CouponDunia is moving its business focus from coupons to cashbacks, the company announced today. The cashback is provided over and above any other deals or discounts that the online store provides.
The new business direction comes along with a complete brand makeover with CouponDunia undergoing a complete brand identity makeover with a new logo which aims to signify ‘big savings’.
The new logo is created by creative agency Enormous, which is co-founded by industry veterans Ashish Khazanchi and Ajay Verma. It features a piggy bank in the shape of an elephant. The idea is to highlight the ‘big savings and earnings’ offered by CouponDunia.
Additionally, the company also launched a new CouponDunia browser extension for Firefox and Chrome that gives users quick access to cashback, coupons, deals, and price comparison.
“Moving over to cashbacks is a natural transition for a coupon website. A year back we launched GoSwag because we wanted to understand what all running a cashback platform includes,” said Ankita Tandon, COO at CouponDunia. When asked about the timing of the shift in direction, Tandon said, “We think right now we are reaching a significant number of people at a reasonable scale. We get 10 million visits per month, which includes about 5 million repeat users. The neares cashback rival is at around 1-1.5 million visits per month. Cashback is an inherently sticky model so this further reduces cost of acquisition for consumers.”
However, CouponDunia will still continue it coupon business though at a much smaller scale. The affiliate marketing segment is about 13-15 per cent of all e-commerce transactions with CouponDunia accounting for 2 per cent of this segment currently.
With the revamped business strategy, CouponDunia expects to substantially increase its user base and sales. Currently, CouponDunia facilitates a gross merchandise value (GMV) of Rs.1,000 crore, and is looking at scaling this up to Rs.4,000 crore in the coming year. Also, the company is looking to grow its app downloads threefold, to 7.5 million from the current 2.5 million downloads.
To communicate the change of strategy, CouponDunia is initially planning a large scale digital campaign this quarter. Tandon informed us that the company has kept aside a budget of Rs 12-15 crore for this advertising this. She further said that the company might consider a 360 degree campaign including a TVC around the shopping season which comes near to Diwali.