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In fact, this form of retailing was available in the country with many small and medium sized retailers, mainly family owned, dealt in specialized items. But this was never been highlighted and was in a much unorganized way.
The concept has been organized with the entry of many corporate and the format is highlighted. The areas where I believe, the specialized retailing is going to play a significant role are: -

Health & Beauty Products

The rising per capita income has given a new direction to the way Indians looked up to health and beauty. They are now more focused to have a good appearance as well as healthy body. At present, many a single-store dominates the sale of health and beauty products but in recent times many specialized retail stores have sprung up which sell these items. There is a huge opportunity for the corporate to have a specialized retail outlets having stores selling only health and beauty products.

Home furnishings & Households Goods

The boom in the real estate sector has also given a fillip to the retail sector in India. The rate at which residential and office spaces are setting up are huge. With these increasing trends in the development of real estate has given a huge demand for household and home furnishing items. At present, the sector is dominated by small players and it has a great potential for expansion. The entry of a specialized retailer will have a great advantage to capture the market share.

Leisure & Personal Goods

Again, the rising per capita income due to the boom in economy has given consumers a chance to spend on leisure and use of personal goods. The specialized retail store dealing in music, books and other items of personal use could be a great business opportunity.

Consumer Durables

This sector has a lot of competition. The entry of many foreign companies has created a great confusion on the mind of consumers regarding the purchase of items in this sector. A specialized store dealing in consumer durables items and offering services like after sales, training, telling the features, etc., could help in the purchasing decision and makes a good business opportunities.

Concluded.

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