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By buying a month -long goods from DMART, you save a lot of money. There is a huge discount given by DMART behind this. But have you ever wondered how DMART can sell goods at such cheap prices? And if he sells, how does it profit? Let’s know
Deemart is famous all over India for cheap goods. From newly developed cities to metro cities, DiMart is present everywhere. Dimart’s reputation has increased so much that it is considered synonymous with cheap goods. Many middle -class families of the country shop for their monthly ration today from Dimart. Even regular wear clothes and kitchen items buy people from Dimart.
In today’s online era, Deeram is competing with many big e-commerce platforms. The reason for this is clear – here the goods are available at very cheap prices. An interesting fact is that the land prices starts increasing in the area where DMART opens. People feel that DiMart has invested in the area whose future is bright.
Mastermind behind DMART: Radhakishan Damani’s mind is behind Dimart’s success. This is the same personality whom late veteran investor Rakesh Jhunjhunwala considered his guru. Radhakishan Damani is included in the list of richest people in the country. His assets are more than Rs 1 lakh crore. But you will be surprised to know that Radhakishan Damani has studied only till 12th. Nevertheless, today he owns the property of Arabs on the strength of his sharp intelligence and commercial understanding.
When Damani, who was once in the stock market, decided to start his own business, in the beginning he faced failure several times. In 1999, he took the first franchise in Nerul, which failed. After this, he started the work of making borewells, but it could not work.
In 2002, he opened the first Dimart Store in Mumbai. He decided that he would not open a demet store at a rented site. Today, Dimart has more than 300 stores across the country. This means that Radhakishan Damani has 300 big land not only in Dimart stores, but also in India. These stores are spread in 11 states.
As far as selling cheap goods, it is also related to Radhakishan Damani’s private stores. Dimart does not open the store at the place of rent, which reduces their running cost significantly. They run a store on their land, so that they do not have to pay regular fare. They take advantage of this savings in giving cheaper goods to customers.
DMART sells its stock within 30 days and asks for new goods. This gives them big discounts. There is nothing better than discount to woo people.
DiMart immediately pays companies from which the goods take. Since money is handed hands, manufactures give them additional discounts. This discount passes the demot customers or uses to increase its profits. Overall, the discount he gets from the company making the product, passes it forward. He does not give anything from his pocket, his profit remains as much as it should be.
Apart from this, some companies give additional discounts to their product to give good displays or also pay directly. The customer usually neither sees nor buys the goods kept very high in the rack and the rack. The item in front of his eyes attracts him more. So overall, by selling good space in your store, Deemart also earns money.
DMART saves 5-7 percent on its expenses and gives it to customers as a discount. This is the reason that DMART still remains the cheapest and trusted retail chain in India.
