The Gunners have seen their trophyless run stretched to eight years, with another campaign having come and gone without silverware being secured.
Part of the problem for Arsene Wenger over recent seasons has been an inability to keep his squad intact, with the likes of Cesc Fabregas and Robin van Persie having departed for fresh challenges elsewhere.
Giroud concedes that Arsenal cannot afford to keep losing players of that quality if they are to mount a serious bid for major titles at home and abroad.
The French striker told Sky Sports News HD: "First you need to keep your best players, that's so important. After that, maybe you need more money.
"But Manchester United every year buy one or two players. They manage to keep their best players, I think that's the main thing to do."
Giroud was drafted in by Arsenal last summer in an effort to fill the void created by Van Persie's departure to Manchester United and he claims to be happy with his choice - having come close to joining German giants Bayern Munich at one stage.
He added: "Munich were not ready to take a decision. I was really happy to sign for Arsenal.
"Thierry Henry, Patrick Vieira, Robert Pires, Sylvain Wiltord, Emmanuel Petit - there have been a lot of French players, so that's why I supported this team."