Pepperfry.com, a leading online player in the Furniture & Home Products market has unveiled a new visual identity. This new logo is built on Pepperfry's core values of - Intensity and Inclusiveness - and represents its key customer promise - "Happiness".
The brand has grown fast through a series of initiatives and innovations, which have enhanced its core capabilities and inherent strengths of the managed marketplace model.
The new logo has been designed by Pepperfry's creative agency L & K Saatchi & Saatchi.
So, we decided to speak to Kashyap Vadapalli, CMO, Pepperfry to know why the brand needed to revamp its visual identity. Excerpts
Q. What was the idea behind the change in the visual identity?
A. Pepperfry has evolved since it was born and our capabilities are much more developed. I think the visual identity of the organization needed to reflect the current capabilities. Our fundamental proposition of providing a hassle-free furniture buying experience to the customer remains intact. However, our ability to serve a customer across cities, offer wide range of designs, and deliver customer support has increased. We realized that it has been quite a journey in last few years since the last logo was formed in Q1 2013 and it made sense to reflect our identity on who we are today.
Q. What does the logo reflect?
A. The new identity reflects our consumer outreach. It is built on three things - intensity, inclusiveness and happiness.
Firstly, Pepperfry has come this far for its superior service in the category. There is a capability involved in moving the logistics around the country. Many consumers faced a problem of assembly after furniture got delivered to their doorsteps. Pepperfry provides free assembly. We saw that third-party logistics team left the furniture on the road if they had to take it to different floors. Our teams ensure that the furniture is delivered to the consumer, no matter which ever floor the house is on. We go an extra mile to find out a solution or service to the customer and we refer it as intensity. We showcase the intensity in the new logo through its colors and bold fonts.
Secondly, the logo is not a single color. P is a dark red, and as we run into Y, it is a flaming orange. It reflects that we serve all kinds of customers unlike other players who serve a narrow segment. We provide entry level value brands made of engineered wood for young couples starting their homes. At the same time, we provide, high end teak and shisham furniture for a GenX who is looking for a second or a third house. We deal in simple utilitarian designs to eclectic bohemian design. The variety or the diversity is the second pillar of the logo.
The third aspect of the logo is that it is built of smiles as we aim to convert an anxiety fueled experience of buying furniture into a happy experience. We started with a smile and smiley and the curved smile or the upturned lips forms the base for each letter of the logo. The letters are much more curved than before. The happiness forms the third aspect of the visual identity.
Q. Why did Pepperfry go for a change in visual identity now?
A. We realized that people are having fantastic experience with Pepperfry and urged them to share their experience on social media. After much deliberation, we understood that Pepperfry is delivering happiness to the people and its visual identity was not reflecting that. Our earlier visual identity was formed showcasing that we want to operate in that category and did not capture the ethos of happiness and intensity.
Q. How are your promoting the new identity?
A. We are doing a bunch of campaigns on social and digital platforms but not directly talking about the identity change. We are talking about different aspects that has driven this identity change such as variety of designs, quality of service, or happiness. There are various media pieces that will be produced over the next two months across Facebook, Instagram, Twitter and our platforms. We have a strong community and can reach and target around 10-15 million people via these channels.
Q. So, what are your plans and targets for the coming 24 months?
A. As this category and consumers evolve, there is a hierarchy of needs that consumer has with it. The first need is hygiene that is where he questions whether he will get the right quality and right price. Second level is advantages of buying from here or a good design or a large variety to choose from. And the third level is that there is a unique design that reflects the consumer and what he stands for.
I think in last 4-5 years we have established the first two layers and in the coming days between 2017-20 we aim to get into a space where we beautify the consumers house. We aim to beautify 20 million homes by 2020 such that each of this house has atleast one product from Pepperfry. Currently, we have 23 studios and want to take it to 48 studios in 6-8 months. They are places of inspiration and are developed with an objective to beautify people's homes.
Q. What is the growth rate for Pepperfry?
A. In the first 2-3 years, Pepperfry was growing at 200-300% y-o-y. After that the size of the brand has increased, the sale growth has reached 100% y-o-y. We are growing strongly and will be happy to clock 50% growth y-o-y.
The overall furniture market by various estimates is between Rs 100-150,000 Crores annually. The organized segment is around 8-10% and of this 15% is online. Pepperfry command 60% share of the online furniture segment.
Q. And finally, who is the audience for Pepperfry?
A. We are still servicing the SEC A customer. When we started in 2012, only NCCS A1 had the appetite to take risk to buy furniture online. Today I think we cover NCCS A1, A2 & A3. I think we must go into the NCCS B category for the future growth.
Previously, 90% of our business came from top 8 cities, but today that number is 75%, and we get a strong contribution from areas beyond top 8 metros.
Our audiences is between between 25 and 50 years of age however our core audience is between 30-40 years. When we first started our journey, the average age was in high 30s, and now the average is in mid 30s, so more young people are on the brand wagon.
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