Comprehension
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ARCHIES KNOWN FOR Popularising greeting cards in the 90’s, Archies is now banking on quick commerce platforms such as Zepto, Swiggy’s Instamart, and Zomato’s Blinkit to drive a revival in sales. The pandemic had pushed the gifting retailer into losses. “It’s going to be a game changer for our brand. We are already available on Blinkit and expect to finalize talks with other quick commerce players by the fourth quarter,” Varun Moolchandani, executive director, Archies, said.
Archies began listing its products on Blinkit about two-three months ago and has so far seen strong sales on the platform, particularly for its paper products such as wrapping paper, gifting envelopes, bags, and greeting cards. “We have never seen this kind of sales numbers for our products,” he added.
With competition intensifying in the sector, quick commerce players are aggressively expanding their category offerings to attract more users. Legacy brands such as Archies are cashing in on this rivalry and getting their products closer and faster to customers.
Once famous for its Valentine’s Day greeting cards, Archies has been struggling for many years to attract the younger generation to its stores, who prefer social media posts and other digital alternatives. Moreover, the pandemic had worsened the company’s financials as lockdowns had forced it to shut stores, some even permanently.
Archies now runs about 300 physical stores across India, including company-owned ones and franchises. Prior to the pandemic, it had 450 retail stores. Between FY20 and FY22, the company had posted a total net loss of ₹12.2 crore, while the revenue had nearly halved during the period.
The company is also making investments to increase the number of retail stores and franchises. “Our major focus will be high street and north India for at least a year and a half. For both company-owned stores and franchises, our idea is to capture the tier 2 and 3 markets,” Moolchandani said. The company plans to add at least 25-30 physical stores a year and increase its partnerships with third-party brands, which sell their gifting category products through Archies. At present, personal care brands such as Mamaearth and mCaffeine sell their gift packs through Archies outlets and their website.
“We will not achieve the numbers which we had 15 years ago, but we will try to innovate to have new and unique greeting cards so that people are excited to see our products,” he added
ARCHIES KNOWN FOR Popularising greeting cards in the 90’s, Archies is now banking on quick commerce platforms such as Zepto, Swiggy’s Instamart, and Zomato’s Blinkit to drive a revival in sales. The pandemic had pushed the gifting retailer into losses. “It’s going to be a game changer for our brand. We are already available on Blinkit and expect to finalize talks with other quick commerce players by the fourth quarter,” Varun Moolchandani, executive director, Archies, said.
Archies began listing its products on Blinkit about two-three months ago and has so far seen strong sales on the platform, particularly for its paper products such as wrapping paper, gifting envelopes, bags, and greeting cards. “We have never seen this kind of sales numbers for our products,” he added.
With competition intensifying in the sector, quick commerce players are aggressively expanding their category offerings to attract more users. Legacy brands such as Archies are cashing in on this rivalry and getting their products closer and faster to customers.
Once famous for its Valentine’s Day greeting cards, Archies has been struggling for many years to attract the younger generation to its stores, who prefer social media posts and other digital alternatives. Moreover, the pandemic had worsened the company’s financials as lockdowns had forced it to shut stores, some even permanently.
Archies now runs about 300 physical stores across India, including company-owned ones and franchises. Prior to the pandemic, it had 450 retail stores. Between FY20 and FY22, the company had posted a total net loss of ₹12.2 crore, while the revenue had nearly halved during the period.
The company is also making investments to increase the number of retail stores and franchises. “Our major focus will be high street and north India for at least a year and a half. For both company-owned stores and franchises, our idea is to capture the tier 2 and 3 markets,” Moolchandani said. The company plans to add at least 25-30 physical stores a year and increase its partnerships with third-party brands, which sell their gifting category products through Archies. At present, personal care brands such as Mamaearth and mCaffeine sell their gift packs through Archies outlets and their website.
“We will not achieve the numbers which we had 15 years ago, but we will try to innovate to have new and unique greeting cards so that people are excited to see our products,” he added
Question: 1
Archies cards can be purchased presently at:
Archies cards can be purchased presently at:
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Pay attention to the details in the passage where specific platforms or retailers are mentioned for purchasing products.
- Zepto
- Instamart
- Swiggy
- Blinkit
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The Correct Option is D
Solution and Explanation
The passage mentions that Archies has already listed its products on Blinkit and has seen strong sales on the platform. Therefore, the correct answer is Blinkit.
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Question: 2
Archies wants to take advantage of:
Archies wants to take advantage of:
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In questions about motivations or strategies, focus on the specific competitive elements or market dynamics highlighted in the passage.
- Strong sales of its paper products.
- Rivalry between quick commerce players.
- Its status as a legacy brand.
- Its investments to increase the number of retail stores and franchises.
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The Correct Option is B
Solution and Explanation
The passage mentions that Archies is capitalizing on the rivalry between quick commerce players, expanding its product availability on multiple platforms to attract more users.
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Question: 3
Archies will be available on many quick commerce platforms by:
Archies will be available on many quick commerce platforms by:
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Look for specific timelines mentioned in the passage, such as dates or quarters, to answer questions about when events will occur.
- January onwards
- April onwards
- July onwards
- October onwards
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The Correct Option is D
Solution and Explanation
The passage clearly states that Archies has already listed its products on Blinkit and expects to finalize talks with other quick commerce players by the fourth quarter. This suggests that it will be available on many platforms starting from October onwards.
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Question: 4
Archies has a third-party brand partnership with:
Archies has a third-party brand partnership with:
Show Hint
For questions about partnerships, carefully read for mentions of specific companies and their relationships to the subject company.
- Blinkit and Zepto
- Instamart and Blinkit
- Retail stores and franchises
- Mamaearth and mCaffeine
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The Correct Option is D
Solution and Explanation
The passage mentions that Archies has third-party brand partnerships with Mamaearth and mCaffeine, which sell their gift packs through Archies outlets and website.
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Question: 5
Choose one word for the given group of words: ‘done as part of a plan that is meant to achieve a particular purpose or to gain an advantage.’
Choose one word for the given group of words: ‘done as part of a plan that is meant to achieve a particular purpose or to gain an advantage.’
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In vocabulary questions, focus on the context of the passage to determine which word aligns best with the described concept.
- Equity
- Strategic
- Benefit
- Subscription
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The Correct Option is B
Solution and Explanation
The word strategic best fits the description of something "done as part of a plan that is meant to achieve a particular purpose or to gain an advantage."
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