The e-commerce competition is only getting fiercer with every company pulling up their socks and strengthening their arsenal. Days after news of Paytm Mall's talk with SoftBank for Rs 3,000 crore emerged, news about Flipkart's repositioning its brand is making the rounds. The homegrown giant's attempt to refurbish the brand comes as they are looking to capture the next 100 million customers, especially from tier II and tier III towns.
The new brand called 'Naye India ke Saath' (with the new India) is likely to push out multiple 'progressive India' initiatives in order to create a more 'relatable Indian brand'. With this brand, the company will also push for more usage by customers in tier III towns.
According to a report by The Economic Times, the VP of marketing, Shoumyan Biswas said that they are going to come up with several methods in the next 6-18 months to address the new wave of 100 million customers. Biswas said that there are only 35 million credit card users, so they would come up with credit options for customers who don't have credit cards among other solutions.
However, not everyone is enthusiastic about Flipkart's India-centric approach. Experts believe that the company's India-centric approach is not going to hold any monopoly, especially when rival Amazon is continuously revamping on the same front. It will be difficult in the future as well with Alibaba in the mix.
Biswas also mentions that the company's advertising techniques have changed since 2014-15, when they launched the 'Ab Har Wish Hogi Poori' campaign. The company spent huge amounts in that campaign, also to create brand awareness, while they are more into a combination of offline and digital marketing now.
Experts point out that digital marketing might not be enough to reach out to the rural customers, which will require a different approach.