Groupon India recently announced that it will be renamed 'Nearbuy' as part of a marketing effort that focuses on the brand's mobile business efforts. Recognizing that most of its sales come from mobile devices, Groupon India wanted to transform its brand identity to one that better reflects its money-saving values.
In addition to saving users money on dinners, beauty treatments and other products, Groupon is also a staple in over 48 countries. Zoning in on 60 percent of its consumers -- mobile users -- the company's 'Nearbuy' rebranding aims to make this demographic's experience on its site more memorable.
In addition to access from everyday users, the brand hopes to "connect buyers with deals in their localities" and to ultimately grow its business to greater heights.
Rebranded Discount Platforms
Groupon India Becomes Nearbuy in an Effort to Grow its Mobile Market
Trend Themes
1. Mobile Discount Platforms - Groupon India's 'Nearbuy' rebranding targets mobile users as a way to stay competitive and grow market share in the discount platform industry.
2. Localized Deal Offerings - Nearbuy aims to connect mobile users with deals specific to their local area, representing an opportunity for discount platform businesses to leverage geo-targeted advertising for enhanced personalized experiences.
3. Personalized Experiences - Nearbuy personalizes the user experience by connecting buyers with deals in their localities, creating an opportunity for businesses to lean into personalization and provide tailored recommendations for their customers.
Industry Implications
1. E-commerce - The 'Nearbuy' rebranding suggests opportunities for e-commerce businesses to develop mobile-first platforms or adapt existing strategies to capture a larger share of the growing mobile market.
2. Digital Advertising - With the rise of localized deal offerings in the discount platform industry, digital advertising companies can explore new strategies to capitalize on these trends and reach mobile-first audiences in targeted, hyper-localized ways.
3. Branding and Marketing - The 'Nearbuy' rebranding highlights the importance of mobile-first marketing and creating memorable brand experiences for customers, offering opportunities for branding and marketing agencies to stay ahead of the curve and drive innovation in this space.