Snapdeal pumps in Rs 200 crore for brand overhaul
Eyeing an "aspirational India", Snapdeal has invested Rs 200 crore in rebranding activities and also unveiled a new logo as the e-commerce major focuses on wooing the next 100 million potential online shoppers.
New Delhi: Eyeing an "aspirational India", Snapdeal has invested Rs 200 crore in rebranding activities and also unveiled a new logo as the e-commerce major focuses on wooing the next 100 million potential online shoppers.
The SoftBank-backed company has pumped in over Rs 200 crore for the re-branding initiative, which will include a 360-degree marketing campaign ahead of the festive season.
"There are about 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," Snapdeal Co-founder and CEO Kunal Bahl told PTI.
With this new positioning, Snapdeal is focussing on the next phase of growth, engaging with the next 100 million online shoppers, he added.
The re-positioning by the company comes ahead of the festive season. Snapdeal like competitors Flipkart and Amazon is lining up offers to woo customers to shop on its platform. These companies are also ramping up logistics to ensure timely delivery of packages even at peak demand.
According to a report by Kotak Institutional equities, Indian e-tailing market could reach USD 28 billion by 2019-20, registering a compounded annual growth rate of 45 per cent over the next four years. It forecasts the number of online buyers to touch 110 million.
"The new positioning is focussed 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," Bahl said.
"I think we have spent Rs 200 crore or north of that in the entire campaign," he said, adding that the overhaul is based on the insights of interactions of key members of its leadership team with existing and potential users in metros as well as cities like Guwahati, Bhopal, Rajkot, Nagpur, Madurai.
Snapdeal has done away with its blue and red logo, replacing it with a Vermello (red)-coloured box.
"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," he said.
The campaign has been conceived by Prasoon Joshi and his team at McCann while Shankar, Ehsaan and Loy have worked on the jingle.