Allardyce watched his side beat Serie A club Juventus 2-0 at St James' Park on Sunday thanks to goals from Albert Luque and Andrew Carroll, but the former Bolton boss wants to add experience to his squad.
At the final whistle youngsters Darren Lough, Charlie Barnett, Matthew Pattison, James Troisi and David Edgar were among the Newcastle 11.
"We are still very much in the transfer market," Allardyce said. "If we started the season with the same side that ended this match it would be a disaster.
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"They played well, but it doesn't change anything: we're still light on numbers. We're still after experienced, quality players."
The manager said recently that winger Kieron Dyer, who played against Juve, would be allowed to leave the club after eight years with the club - and confirmed after the game that nothing had changed.
"We used him for 45 minutes because we were short of numbers," he said. "He played very well, but I don't think we can [keep him] for the reasons I gave on Thursday.
"The only way I can see to resolve this is for Kieron to move closer to his family.
"Nobody has come in with the right money yet. Nobody has offered anything like the money we want.
"If they don't come in [with the right offer] then all I can do is sit down with Kieron and see if there's something else we can do."
Newcastle ended last season down in 13th position after horrific injury problems under Glenn Roeder, prompting the Allardyce's appointment. The north-east club are also under new ownership following the takeover by Mike Ashley.
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