Snapdeal, the SoftBank backed company has invested INR 200 crore in the re-branding initiative and has also unveiled the new logo ahead of the festive season, eyeing on the next 100 million potential online buyers.
“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,” said Snapdeal’s CEO and Co-founder, Kunal Bahl.
The re-positioning comes ahead of the festive season. Snapdeal, which is at number 3 online players after Amazon and Flipkart, will be spending INR 200 crore on marketing and advertising during September and October.
The company has changed the previous tagline, Dil Ki Deal, to Unbox Zindagi. With this tagline, Snapdeal aims to go beyond the assurances, narrative of discounts and basic introduction to online shopping.
Despite having lower sales than the two rivals, the company had proved to be the speediest delivering network in July which took just 3.8 days to deliver products against 4.5 days for Flipkart and 4.9 days for Amazon. Snapdeal, that didn’t have its own logistics unit, until 2015, when it acquired a stake in Gojavas. The company has now created an in-house logistics and delivery unit called Vulcan Express Pvt. Ltd.
The company has changed its previous logo, which had a combination of blue and red, to vermelho (a shade of red) box.
With the new re-positioning, the company is focusing on engaging with the next 100 million online buyers in the next phase of growth.
Snapdeal to Invest INR 200 crore for Re-branding Initiative
