Gunners boss Arsene Wenger is keen on strengthening his attacking line after scoring just three goals in the opening four Premier League outings.
And Giroud - who has netted just once - believes it's a shame his French compatriot Benzema didn't opt to join north London.
"It is true that every year here there is speculation about a new striker signing," Giroud, 28, told BeIN Sports.
""There were seasons when we signed Sanchez and Welbeck, others when we were talking about Suarez.
"It is obvious that in a club, a team, where a lot is expected, we need several good attackers and I understand that the fans want that we spend more money.
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Olivier Giroud would have liked to see Karim Benzema join Arsenal
"It is not up to me to answer this question, the coach knows very well what he is doing, and sometimes you should not buy just to buy, and sometimes there are not players out there that you need, who are available.
"We have a very good squad, with quality, and I am sure that with this squad we can go very far.
The Frenchman added: "Aside from that, it would have been good if Karim had signed too, eh?"
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