In the recent past, we have seen unprecedented growth in the retail market with various supermarket stores entering this market to meet the customers' insatiable demand. In this article, we will be analyzing the D'mart rise to prominence against all the odds, competing with some of the best retail stores in India. I am quite sure that you have heard about some of these retail giants that include;
- Vishal Mega Mart.
- Future Retail.
- Shoppers Stop.
- Spencers Retail.
Among many others. In the same cluster, some big retail shops competing for the same market are big international retail corporations, for instance, Walmart. In your mind, you might be thinking, Walmart; given their prominence in the retail market across the globe, they must be the retail giant in India, but that is far from the truth. The prime retail store in India is D'mart Supermarket.
How D'mart Rose To Power
D'mart is not new to this market but has always been operating in some of these big companies' shadows. It was founded in 2002, with some of its very first stores being set up in Powai. In 18 years, D'mart has well over 200 stores all across the various regions in India which include;
- Madhya Pradesh.
- Andra Pradesh.
Compared to its competitors, D'mart has been performing well when you look at its profitability. This is because it has implemented some strategies that most of its competitors are not following.
The Strategies Adopted By D'mart.
Branding. D'mart has always wanted to be viewed as a place of incredible discounts that offer customers most of the items from major brands. In addition to that, D'mart stores are set up in places where there is a massive inflow of people and mainly operate in three formats which include;
- Hypermarkets- these are usually set up across 30,000-35,000 sqft.
- Express formats- these are set up across an area over 7,000-10,000 sqft.
- Super Centers- these are set up across an area that is over 1 lakh sqft.
When it comes to its consumer focus, D'mart main customers include the middle-income groups and mainly use the price cuts and discounts to attract new customers and retail the old ones. Looking at D'marts business model, you will find out that the giant retail's success is tied to;
By simply targeting the middle-income earners in India, the store set up has to be set in close proximity to these people, setting up the stores in residential areas and not in malls as other retailers do. In addition to that, D' mart's mantra has been to meet the regular customers' daily needs while providing great value for their money.
Striking a good relationship between D-mart and its vendors is the second pillar that has enabled the super retail store to outdo its competitors.
Looking at D’mart success in such a short period, we can only come to one conceivable conclusion that to succeed; you need to do differently and become different.