The only secret to survive in this cut throat competition of ecommerce marketplace is continuously reinventing oneself. With the festive season knocking at the door, which has statistically proved to boost high sales for etailers, all are gearing up heavily.
The latest company to showcase its arsenal is Snapdeal, which has revamped its logo to exhibit a new brand identity.
Reports of the unveiling of the new logo before Diwali have been ripe since past few weeks, with sources stating that Snapdeal co-founder Rohit Bansal is reportedly working closely with advertising agency McCann Erickson in the project.
Declining to reveal the cost incurred in the rebranding, told ET, “We have to be ready for the next 100 million ecommerce buyers that are going to come online in next five years.”
The new and different colored logo comes along with a new tagline, “Unbox Zindagi”. The long-standing colour palette of red and blue has given way to vermello.
The SoftBank Corp, Foxconn and Alibaba Group-backed company that pivoted into a etailer from a deals site six years ago, had engaged London-based DesignStudio, which undertook a similar exercise for online home rentals venture Airbnb.
A part of the design overhaul, which kicked off in March earlier this year, is noted ad-man Prasoon Joshi, chairman, McCann Worldgroup Asia Pacific, and music director trio Shankar Ehsaan and Loy.
Snapdeal has also committed to spend about Rs 200 crore towards marketing over the next two months in the run up to festival season, which.
Snapdeal has been going through a rough patch as it has slipped down the pecking order in the ecommerce sector. Amazon India had overtaken it earlier this year with Flipkart sitting steady as market leader.
Consumers have for a long time complained against the service quality of the etailers that have highlighted the gaps in the supply chain and logistics operations. The Ministry of Consumer Affairs has appointed a team that will attend to the problems of the victims.
The focus, clearly, is on delivering a superior delivery experience for ecommerce consumers now. In its latest report released last week, research and advisory firm RedSeer Consulting stated that Snapdeal had recorded the fastest delivery times in five of the first seven months of calendar year 2016, followed by Amazon and Flipkart.
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