The Gunners have returned from a successful Asia tour to host this weekend's Emirates Cup, which did not take place last year because of the London Olympics, with matches against Rafa Benitez's Napoli and Galatasaray.
However, while chief executive Ivan Gazidis talked up the club's new "financial firepower" at the end of last season, that has yet to be transformed into any concrete deals.
A move for Gonzalo Higuain from Real Madrid never materialised as the striker eventually signed for Napoli instead, while the Gunners' pursuit of Liverpool's wantaway striker Luis Suarez appears to have hit the buffers following their £40m+£1 bid.
Despite reports of interest in Brazil goalkeeper Julio Cesar, Swansea defender Ashley Williams and Everton midfielder Marouane Fellaini, not to mention England frontman Wayne Rooney, so far France Under-20 forward Yaya Sanogo is the only confirmed new recruit - and that on a free transfer from Auxerre.
Wenger, though, stressed everyone remains busy behind the scenes looking to bring in the right type of player to supplement a squad full of promise as Arsenal aim to end the best part of a decade without silverware in 2013/2014.
Speaking during the Emirates Google+ Hangout with Arsene Wenger, the Gunners boss said: "We are still working on improving our squad, but we have a base of young players who get a chance here, who started in the Premier League, like (Wojciech) Szczesny, Jenkinson, (Alex Oxlade-)Chamberlain, (Jack) Wilshere, (Aaron) Ramsey, (Theo) Walcott - that is unique, nobody else has done that.
"These players can have a special bond and they are on the way upwards, they are not over the hill.
"They will be better next year and that is why I am confident we will be stronger next season."
Wenger continued: "We had a fantastic end to the season, because we won eight of the last 10 (league) games.
Source: PA
Source: PA