The market of online shopping has undoubtedly grown bigger by leaps and bounds and it is expected that number of potential online customers will increase in near future. For the same, the e-commerce giant Snapdeal spent a whopping sum of Rs. 200 crores to rebrand actions, focusing on “aspirational India”. Not only this, it has uncovered a new logo as well in order to woo 100 million prospective buyers.
In the words of Kunal Bahl, CEO and Co-Founder of Snapdeal, “There are 50-60 million online buyers in India currently and for e-commerce to become larger, the next 300-400 million people coming online would be very important… Things like discounts, fast shipping, functional benefits are already there, but going ahead, e-commerce brands will have to stand for something of a higher order.”
The firm is naturally intended to crack down on more development and progress with this so that they can engage well with 100 million probable customers, as said by Bahl. Snapdeal rebranded its activities prior to festive season and is on the way to line up various discounts and offers for attracting shoppers, just like Amazon and Flipkart. What’s more, such firms will ramp up logistics too for making sure that products are delivered on time, no matter how high demand is.
Kotak Institutional equities reported that by 2019-2020, e-tailing market of the country is expected to reach as high as $28 billion which means that there will be a compound annual growth rate (CAGR) of 45% over the coming 4 yrs in addition to growing number of shoppers of about 110 million.
As stated by Kunal Bahl, “The new positioning is focused on the aspirational India. It is about understanding that each purchase is not just a transaction, but an opportunity to upgrade to a better life as is expressed in the new brand identity — Unbox Zindagi.”
Kunal further added, “I think we have spent Rs 200 crore or north of that in the entire campaign.” Base of this rebranding is insight of leadership team’s prominent members’ communication with prospective plus existing customers living in metros and places such as Nagpur, Rajkot, Guwahati, Madurai and Bhopal.
The company has now replaced its red & blue logo with a box of Vermello, i.e., red color, as the CEO says, “Our delivery boxes will be in the shade of red, which we are calling Vermello. The new logo, with two arrows forming a box, conveys Snapdeal’s journey as partners and enablers, indicating progress, onwards and upwards.”
Prasoon Joshi along with team conceived this overhaul, whereas jingle was prepared by Shankar, Ehsaan and Loy.
How did you find the new logo of Snapdeal? Do you think this rebranding will take the firm to new heights? Let us know your views in the comments section below.