Re-Branding in Indian e-Commerce Space

As per a study by ASSOCHAM-Deloitte, by end of 2015 the Indian e-commerce industry is set to cross $16 billion. This sector has grown steadily from $.4.4 billion in 2010 to $13.6 billion in 2014. This sun-rise industry is flooded with many startups, whereas some established players are diversifying their business offerings as well as adding new business lines and some has gone for REBRANDING. The recent example is Quikr, the online classified business firm with a new logo and new tag line ‘Aasan hai badalna’. Prior to Quikr the largest Indian e-retailer Flipkart has also undergone for rebranding, similarly with a new logo, new tag line ‘Ab Har Wish Hogi Poori’ and 2 minutes 30 seconds long TV commercial. The real estate search portal, Housing.com also has undergone for rebranding during Holi 2015 with a new logo for LOOKING UP. Having discussed these examples, one question comes to mind- Has the value proposition been changed? Let’s understand that.

What is a Brand?: As per bookish definition brand can be defined as “A distinguishing symbol, mark, logo, name word, sentence or combination of these items that companies use to distinguish their product or service from others in market.” This definition is more from the organization or company stand point, but from a customer prospective, brand is something that is provides confidence, passion, belonging, action and security to the customer. There is a very thin, still very distinguish line between the product (or service) and brand. A product (or service) can be defined as a bundle of benefits but brand as a set of unique values. So brand is always made by the customer, for the customer & of the customer.

Quikr Rebranding: Changing the funky logo to a more formal one Quikr, has gone for a fresh look. New business lines like QuikrHome, QuikrCars, QuikrServices & QuikrJobs have been added to the traditional classified business. During inception in 2008, the company aimed to be a simple, reliable C2C (Customer to Customer) market space and they have very much achieved that. Quikr NXT, the instant chat (between buyer & seller) and free home delivery service is bold yet valuable step taken by Quikr.

Flipkart Rebranding: (#AbHarWishHogiPuri) The story is bit different for Flipkart. In 2011-12, this home grown e-retailer used to be a undisputed player in the market but now, the intense competition from global player like Amazon and also from other desi e-retailers like Snap Deal and PayTm making its difficult for Flipkart. Various strategies have been tried and tested for Flipkart- new category addition, digital music, cash on delivery, from a e-retailer to e-market place etc. The current strategy is rebranding. It has came up with a new refreshing look- the logo of a shopping bag with "F" on it and also the new catchy tag line- "Ab Har Wish Hogi Puri". It's very difficult to say anything about the tag line (Har Wish...), but as per industry experts, this logo is mobile friendly and Flipkart is trying to go mobile-only. So the question remain same- has the value proposition been changed for Flipkart or this rebranding is an answer to Amazon's Aur Dikhao (#AurDikhao) and Snap Deal's Dil Ki Deal (#DilKiDeal) campaign?

Rebranding is not just to change the logo or tag line or changing the TV campaign. There must be some visible changes in the offerings. So let's see which e-commerce company in India will go for the change in offerings at the first place, rather than going for changing the logo or tag line.