Online e-commerce site Snapdeal has undertaken a huge brand identity overhaul and has changed its logo. The new rebranding will see Snapdeal unveil a new logo, along with a new tagline, “Unbox Zindagi,” while the color of the new logo remains the same as the old one- red and blue. 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. “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,” Snapdeal Co-founder and Chief Executive Officer Kunal Bahl told PTI. Also Read - Amazon, Flipkart and others to add labels to Chinese goods sold online in IndiaAlso Read - Lockdown 2.0: Amazon, Flipkart, E-commerce services allowed to operate in non-hotspot areas
With the new positioning, Snapdeal is focusing on the next phase of growth, engaging with the next 100 million online shoppers, he further added. However it is worth noticing that the re-positioning and the new logo of 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 $28 billion by 2019-20, registering a compounded annual growth rate of 45 percent over the next four years. It forecasts the number of online buyers to touch 110 million.
“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,” 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. ALSO READ: Amazon, Flipkart, Snapdeal sale violates FDI norms: Traders body CAIT
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.