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On one hand, the concepts of hypermarkets and supermarkets are increasing every day, on the other hand, there is a new format of organized retailing ready to grip the nation, which will change the experience of shopping in the national horizon and further enhance the growth of retailing in India.
This format is the concept of specialized retail store which was unheard in India some time back. All the big players which want to enter into the retailing are thinking on this new format of organized retailing. Reliance has already formed a company named "Reliance Digital", which will be an exclusive provider of electronics products. TATA is talking to a major retailer in Australia, Woolworths, to open an exclusive retail store for consumer durables. The new venture called "Infiniti Retail Limited" will be a 100% subsidiary of Tata Sons and will offer more than 6,000 products across eight categories. Landmark Group of Dubai is planning to open up exclusive food retail store in India and is approaching Carrefour as an ally.

A specialized retail store is something which keeps products in any one vertical, like a mall for consumer's electronics only, malls for high fashion garments, etc. This concept is started in India by the formation of Gold Shuk, in Gurgaon some years back which is a mall exclusively for the jewellary. Reliance Retail, which already has an electronics retail venture, Reliance Digital, may bring the Apple Store to India. Apple Store is a specialized retail outlet which apart from selling Apple products, offers workshops, training and support services. This will be only second exclusive store of Apple in Asia, first being in Japan.

The format of specialized retailing has got some meaning and is heading towards a great business proposition in the future. The rate, at which malls are opening in the country, has now somehow created a lot of confusion in the mind of consumers regarding the purchase decision. Also, the space constraints at the metros are taking the shine away from the malls as more and more products are being offered at small places. Nowadays, majority of visitors in malls and hyperstore are those, who just want to roam around in the air-conditioned environment rather than real buyers. Also the big brands like to maintain its brand equity, and so, are afraid to sell its exclusive products alongside other's company's products of lower brand value. A specialized retail format could solve some of these problems as it will sell only specialized products and offered services for them. The number of real buyers could increase as they will go for a particular product and could find shops dealing in the same. This could ease the decision making process a bit and make shopping pleasurable.

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* Contributed by: -
Deepak Verma (Campus Associate),
PGD-GMT from National Institute of Fashion Technology,
Currently persuing PGDBM from Welingkar Institute of Management, Mumbai.