Snapdeal gets a brand new brand identity

Having been overtaken by Amazon India earlier this year, e-commerce company Snapdeal has gone for a massive brand identity overhaul. The rebranding will see Snapdeal unveil a new logo with the new vermello colour along with a new tagline, "Unbox Zindagi”. Highlighting the philosophy behind the brand re-positioning, Kunal Bahl, Co-founder and CEO, Snapdeal, said, “Snapdeal will be the platform that will enable users to unlock their aspirations. That is why we are moving the narrative to the users and to their desire to upgrade to a better life. With this new positioning, we also focus on the next phase of our growth, as we seek to engage with the next 100 million online shoppers from all parts of an increasingly connected India.”
Snapdeal is backed by SoftBank Corp, Foxconn and Alibaba Group¬, the country's online retail market has been estimated to grow at a slower pace compared to key rival China. In a report released earlier this month, Kotak Institutional Equities estimated gross sales or the value of merchandise sold on ecommerce platforms, referred to as GMV, to reach $28 billion by 2020. With Amazon India overtaking the company and Flipkart still at top position, Snapdeal will have to make an impact if the company wants to move ahead in the sector.
For the new look, design and feel, the company engaged London¬ based DesignStudio, the lyrics of “Unbox Zindagi” have been written by Prasoon Joshi himself and soundtrack has been done by Shankar, Ehsaan & Loy. Rohit Bansal, Co-founder Snapdeal, said “Our new logo is visualized from the perspective of the happiest moment for an online buyer i.e. when she receives her ‘box’. We understand that every box that we deliver contains not just a product but represents a new opportunity, an aspiration or the start of a journey for our consumers. Our entire new brand identity right from the brand mark to its extensions, reflects the box – a representation of untold potential and possibilities.”
Clearly, the e-commerce segment has become highly competitive and in order to survive the cutthroat environment companies will have to revamp. While a new brand identity at this point can give a long term benefit, the change is also ahead of the festive season which is usually most lucrative period for the online commerce companies.