pestle analysis for supermarket industry in sri lanka
Subscribe now to get your discount coupon *Only Major political instability and distressed government finances have blighted Sri Lanka, which is mostly unfree for economic freedom. Consumer Foodservice By Location in Mexico, Analysis of the country's political and macroeconomic stability, An overview of the economic structure and major industries. Out of these 40,000 stores, more than 26,000 are simple grocery stores. People save their money for products of necessity. Cargill A. operates in a complex and dynamic environment characterized by regulatory changes, growing environmental activism, collective social trends, technological changes and evolving legal system. Other small name companies cant compete on the same scale. Developing strategic business models and competitive advantage in the digital sector. This is because grocery stores mainly buy food and beverage products from wholesalers. This PEST country analysis report on Sri Lanka provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis. Studying and forecasting the consumers purchasing power based on relevant economic indicators is important to analyze the customers interests and spending patterns. Sri Lanka SWOT Analysis Market Research Report: Oct 12 2017: 27: USD 100.00: Sri Lanka Risk Analysis Market Research Report: Oct 12 2017: 28: USD 100.00: Sri Lanka PESTEL Analysis Market Research Report: Oct 12 2017: 32: USD 100.00 The online shopping trend is growing among people and it has given rise to many local e-commerce stores. 2. A detailed understanding of the economic environment can help Cargill A. estimate the growth trajectory of industry and organization. If you need help with something similar, Economists are predicting a global recession. The country imports it fromMalaysia,Singapore,UAE, India, and China. The public authority is a combination of the parliamentary and official framework. It is important for Cargill A. to study the current trends in the country's political scenario as changes in government may alter the government's priorities towards the development of different industries. (2012). Cargill A. should carefully analyze the protests by pressure groups, social/environment activists and worker unions as such protests play an important role in the policy making process. A stronger economy allows consumers to buy products they want. It requires Cargill A. to prioritize and focus on marketing the eco-friendly nature of their products over customary value propositions. This negative current account balance indicates the Sri Lanka is net borrower from the whole world. It also maintains good foreign relations with powerful neighbours such as China and Pakistan. Its one of the few industries who managed to scrape through. That doesnt mean they should avoid having a business website or showcase their products online. - As Ceylon modernized, becoming the Republic of Sri Lanka in 1972, social and political change helped drive JK's expansion and diversification. High taxation affects international trade and prevents exports. The organization should also carefully consider the interest rate and its influence on borrowing ability and attitude towards investment. Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. For instance, smaller stores are making the shift to computers or iPads at the register. By 2020, the industry may see global sales nearing $30 trillion. Thats when pre-existing grocery stores started to force the new and not financially strong stores to leave the market so that they could enjoy greater market share. British colonists arrived and colonized the island from 1815-1948. Entering in countries with high taxation level will directly influence the profitability of Cargill A. Use of social media has become common in a modern business environment. The government should address issues like food price inflation, create and save employment opportunities in the apparel industry, protect the rights of ordinary workers, and stabilize the countrys economy. ~ 0.0 Page). This PESTEL/PESTLE analysis reflects a number of opportunities and threats that Unilever must prioritize in its strategies for growth and global expansion in the consumer goods market. The presence at international stage increases the companys sensitivity to changes in political environments of different countries. Hence, Cargill A. should study how intellectual property rights are protected in the host country and make the business strategies accordingly. of the box and hire Case48 with BIG enough reputation. Sri Lanka has made some good progress in science and technology over the years. Sri Lanka is one of the worlds beautiful countries and it attracts tourists from across the world. The supplier power in the grocery industry is very low. 11.12 Sri Lanka 11.13 Thailand Ignorance in this regard can cause undesired circumstances for Cargill A., such as- hurting competitive advantage as a result of intellectual property rights violation and harmed organizational image due to violation of consumer/employee/environment protection standards. Pearson Education. Legal is the sixth factor of PESTEL analysis. Because we just dont know. The growing inequality in many countries is altering the power structure, which has serious implications for international business organizations like Cargill A. Cargill A. need to study the traditionally assigned gender roles to align its marketing and communication practices accordingly. Political stability will . There are multiple stages in the life cycle of any industry. A high level of competition exists in the grocery industry since grocery stores are only retailers. Close collaboration with such groups may enhance the Cargill A.s ability to collaborate with community and achieve long-term corporate goals. The power distance within any society shows the acceptance of hierarchy and income inequality. The supermarket industry in Sri Lanka is set out for an explosive growth in the recent years this is with the western lifestyle of modern Sri Lankans where convenience is a key benefit sought . Dutch colonists overpowered the Portuguese and kicked out the Portuguese. Similarly, it is important to understand the industry lifecycle stage. Service, Dissertation Herbal Toothpaste is made of natural ingredients. Some examples of environmental factors that Cargill A. need to consider are given below. Industry analysis provides complete insight into an industry. USD 300. These regulations impact the economy, consumer buying habits, and international trade laws. These products arent bought by retailers on a whim. This stage of the industry life cycle represents growth in the industry when more people begin to join. Particularly, Chinese investment has been massive. Sri Lanka has a mixed legal and judiciary system. This article is only an example Then, finally, we carried out an environmental analysis of the grocery industry, We hope you would have enjoyed reading this article and are now completely aware of the grocery industry. What are the best sectors for investment? Buyer power is similar to supplier power. The observation of social class stratification is also important for Cargill A. The retail industry is everywhere. Entering in mature industries can be more challenging due to market saturation than industries at the growth stage. 5 Market Analysis 5.1 Regulatory Scenario . Rather than spending weeks trying to locate where the contamination started. Most recent surveys suggest that around 76 % students try professional Tea and womens undergarments are the two top exports of Sri Lanka that mostly go to countries such as the USA, the UK, India, Germany, and Italy. Its non-negotiable. Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). Such changes can also influence the consumers' spending patterns, causing the organization to revise its product and marketing strategies. However, the country has also developed very relations with regional countries likeChinaandPakistan. Environmental factors affecting Sri Lanka. (2019) The Week in Tech: Data Doesnt Support Sri Lankas Social Media Blackout, available at: https://www.nytimes.com/2019/04/26/technology/sri-lanka-social-media.html (accessed 01 March 2021), Hewage, K. and Munasinghe, D. (2019) Technology and economic transformation: Is Sri Lanka prepared to ride the 4IR wave?, available at: http://www.ft.lk/opinion/Technology-and-economic-transformationIs-Sri-Lanka-prepared-to-ride-the-4IR-wave-/14-676196 (accessed 08 March 2021), OEC (2021) Sri Lanka, available at: https://oec.world/en/profile/country/lka (accessed 07 March 2021), Peiris, G. (2021) Sri Lanka, available at: https://www.britannica.com/place/Sri-Lanka (accessed 08 March 2021), Trading Economics (2021) Sri Lanka GDP, available at: https://tradingeconomics.com/sri-lanka/gdp (accessed 09 March 2021), World Bank (2020) Sri Lanka Overview, available at: https://www.worldbank.org/en/country/srilanka/overview (accessed 09 March 2021), Worldometer (2021) Sri Lanka population, available at: https://www.worldometers.info/world-population/sri-lanka-population/ (accessed 09 March 2021). Retail stores use a variety of technology everyday. Moreover, if the government of the country under consideration is not serious about protecting the intellectual property rights of business organizations, it will deter the entrepreneurs from investing in organizations due to high risk of ideas being stolen. Blackridge Research's Sri Lanka Solar Power Market Outlook report consolidate the developments and build a perspective on growth from the point of view of the solar sector, in its current and future role. Issa, T., Chang, V., & Issa, T. (2010). Stores offering food products must comply with health guidelines proposed by the government. Cargill A. can leverage the opportunities offered by social media marketing to improve business performance. Cargill A. must consider these factors to ensure compliance with consumer protection laws. If not, select "Manage Preferences" to learn more about managing your cookie preferences. It is worth noting that Sri Lanka faced a number of political challenges e.g. At this stage, the industry is booming and has reached its peak. This can only happen if the suppliers are low in numbers or they are supplying something very unique or scarce. International business. Big name companies are able to offer a selection online. Retailers who offer products online can collect data provided by their customers. Supermarkets make shopping easy. This is the third major source of revenue generation to the economy. The global expansion strategies of the Cargill A. are influenced by the financial market efficiency as operating in highly efficient financial markets leads towards improved liquidity position and strengthened ability to enter new markets. The organization may also study the industry specific taxation policies to understand the host government's priorities and interest in developing industries. Understanding the demographic trends, power structures, consumers spending patterns and shared beliefs can help Cargill A. design effective marketing messages and fulfil corporate objectives through informed PESTEL analysis. These conditions are often standard. Whether their food is actually contaminated or not. Organizational culture derives strong influence from the societal norms, values and trends. By doing so, the grocery industry can generate huge sums of money. Sri Lanka PESTEL Analysis - Comprehensive Country Outlook. Weve seen shifts in how eCommerce retail leaders operate over the last few years. Help, Academic Some countries offer subsidies for encouraging investment in renewable technologies. The economic development in Sri Lanka is causing some severe environmental issues like poor waste management, overfishing, deforestation, the falling rate of mangroves, water pollution, and air pollution. If they dont, not only will the food by pulled from the shelves, but it could also lead to legal troubles for the company. Cargill A. cannot enter a new market without studying in detail the legal environment and regulatory structure of the new consumer market. Similarly, anti-discrimination laws (like equal employment opportunity) also need to be carefully studied when developing human resource practices as discriminatory suits against employer harm the organizational image and affect organizations ability to attract and retain the talent. Focused R&D and innovation at Blue Star driving growth: Blue Star Limited strengthens its R&D ecosystem, enabling it to release new, innovative goods and services to meet various client needs, giving Blue Star a significant advantage. Lastly, Cargill A. should study the consumers leisure interests and should focus more on enhancing the customer experience if customers prefer experiential products over traditional product offerings. In that case, you will prefer to go to a grocery store to buy the essential food items so you can prepare dinner as soon as possible. As a result, the stronger companies acquire the smaller companies or force them out of the industry. Hence, the grocery industry suffered. Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affecting output, which is pressurised by hyperinflation. Economic factors: Nearly $30 trillion dollars in a couple more years. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. The country needs a lot of reforms like equal treatment of minorities, human rights, communal harmony, and a stable political environment in order to compete with the world. Our consulting team answers your commercial questions with data and insights generated by our research experts, industry knowledge and 1,200 on-the-ground analysts in 100 developed, emerging and frontier markets. Imagine a world without grocery stores. Hence all the suppliers have identical products. Some of the trends, In 2022 tissue and hygiene products are experiencing growth in value sales due to inflation, further supported by population growth, rising income levels, and. Its standard for any store. The political environment of a country comprises multifaceted factors. Sri Lanka has been exposed to different cultures throughout the history as evidenced from the fact that it was called Taprobane by ancient Greek geographers, Serendib by Arabs, and Ceylon by European mapmakers (Peiris, 2021). (2018). Accordingly, we never encourage or endorse its direct The industrys supplier power represents suppliers power to dictate prices. Incomes could face challenges in the short term, whilst poverty is set to rise, but the middle class is growing longer term. In this stage, the share of an industry begins to fall as companies start to leave the industry because the demand for the industry falls. Scope of Sri Lanka - PESTEL Analysis Report. 1. An environmental analysis consists of PESTLE and SWOT analysis since these are the two most famous business tools to analyze the factors from the internal and external environment that affect the operation of any organization. There are almost 40,000 stores in the US that sell groceries. PEST Analysis: Sri Lanka. 1, pp. Sri Lanka is a member of some of the powerful and prestigious institutions in the world such as the UN, the Commonwealth, the Colombo Plan, SAARC, IMF, the World Bank, and the Asian Development Bank. We also cant forget about environmental issues inside of the stores either. Understand the political system in Sri Lanka through analysis of key figures in the country and governance indicators. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. Research and development activities are highly important in an environment characterized by creative disruption. Then, an industry goes through the shakeout stage. Amazon and Walmart are going head-to-head. Online shopping rate is increasing rapidly, and a number of local e-commerce sites have emerged as well. PESTLE Analysis Political Factors In Sri Lanka it is a socialist republic state. Not following these laws exactly as outlined will lead to legal troubles like bankruptcy and foreclosure. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. The first task we had was to do a PESTEL analysis of our home-country that we were in charge of. A critical study on Various Frameworks used to analyses International Business and its Environment. Literally. The business and marketing strategies are also influenced by migration. As a result, people are now finding e-commerce a lot more convenient and switching to e-commerce. In this stage of the industry life cycle, some companies emerge as larger and more financially stable than others. Where should we focus our expansion strategy? (Ed.). Grocery stores are afraid to get substituted since a huge number of homogeneous stores exist that offer the same products. So I did it on Sri Lanka. Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of Cargill A. Access and download reports and data purchased through Euromonitor.com. The sales of grocery stores depend upon inflation directly. Cargill A. needs to consider the following political factors during the strategic planning process: High political stability provides a stable and friendly business environment with predictable market growth trends. Strategy planning process often requires five steps -. Market Research Reports, Inc16192 Coastal HwyLewes, DE 19958, USA. New technologies such as eCommerce have emerged as technological developments have taken place. Following economic factors need to be considered by Cargill A. to make informed decisions: The economic development of a country directly influences organizational performance. After constructing the industry life cycle and assessing the competition in the grocery industry, lets proceed and carry out the environmental analysis of the grocery industry. Learn how to, Our Mayo Clinic SWOT Analysis examines the Strengths, Weaknesses, Opportunities and Threats of one of, Technology is now taking over, and almost all fields are turning most tasks into digital., Schools and colleges should always take proactive steps to guarantee the safety of its students, Cyberattacks can harm your business on many levels. Larger retailers can achieve this easier than mom and pop shops. Over the years, the trends have changed. are considered rare or which species are endangered whose excessive consumption can cause trouble for the organization. The only thing left for the company to do about these changes is abide by them. Andr Cavalcante, S. (2013). The Latest Released Micro EVs market study has evaluated the future growth potential of Global Micro EVs market and provides information and useful stats on market structure and size. Thats when customers got attracted to grocery stores, and as a result, the number of grocery stores increased. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Which countries are moving up the value added chain away from primary sectors? It means that the countrys economy is moving towards urbanization and industrial manufacturing from small rural areas. According to a report by Condliffe, the usage of Facebook is mostly negative in the country and its to separate people and spread false information. Developing a multi-criteria decision making model for PESTEL analysis. The state of the environment affects the quality of the product and the selection. This is why grocery stores in the industry feel threatened. Wall, S., Minocha, S., & Rees, B. 5.4 Ansoff Matrix Analysis 5.5 PESTLE Analysis 6 Global Healthcare Staffing Market, By Service Type 6.1 Introduction . In case of a global recession, the purchasing power of the people will drop, and the grocery industry will observe severe financial losses. The GDP growth rate will determine the Cargill A.s ability to pursue its long-term growth strategies. Also, graduated from Leeds Metropolitan University with a BA in Business & Management Studies and completed a DTLLS (Diploma in Teaching in the Life-Long Learning Sector) from London South Bank University. Cargill A. must follow the employee/labor health and safety laws as some countries have strict regulations to ensure labor safety. Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. Stores other than CostCo now mass stock various products to avoid running out quickly. Check out our SWOT analysis of the food industry to find out the internal . To conclude, the PESTEL model is an important business tool that involves a detailed analysis of macro-environmental factors that shape the business environment. The current account balance for Sri Lanka was estimated to be negative at USD 1.932 billions for the year 2016 and is expected to decrease at a CAGR of 2.35% and reach USD 2.364 by 2022. It is an acronym for political, economic, social, technological, environmental and legal factors that shape the macro business environment. The stability of the political environment in the country will greatly affect the exports of cinnamon. Regulatory bodies emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. These steps can help you get back, Copyright 2020 Weberience LLC. Our site uses cookies to improve functionality. If other companies used this, they would know whether their lettuce is truly contaminated. In this way, grocery stores are essential for the economy. Finally, the exchange rate fluctuation can also influence the profitability and international trade. In 2008 International Conference on Information Management, Innovation Management and Industrial Engineering (Vol. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. Posted by Zander Henry on Not only to streamline services, but also to reach audiences worldwide. academic writing services at least once in their lifetime! Learn how to, Our Mayo Clinic SWOT Analysis examines the Strengths, Weaknesses, Opportunities and Threats of one of, Technology is now taking over, and almost all fields are turning most tasks into digital., Schools and colleges should always take proactive steps to guarantee the safety of its students, Cyberattacks can harm your business on many levels. As a result, the revenue of the grocery industry will fall. It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. Sri Lanka should accelerate its growth in the tech industry if the country wants to develop. The startup stage refers to the early days of an industry when there are hardly any companies. A close eye should be kept on analyzing the 5G and determining its potential to deliver positive business outcomes through enhanced user experience, increased speed and expanded access. Similarly, market segmentation based on social class may be ineffective where social class stratification is low. Technology' is the fourth factor of PESTEL analysis. GSTF International Journal on Computing, 1(1), 73-80. Sri Lanka is home to various socio-cultural and ethnic groups though out in history. Here you can find food products, clothing, and electronics, in large quantities. Industry will fall do a PESTEL analysis e-commerce sites have emerged as technological developments have taken place University... Are considered rare or which species are endangered whose excessive consumption can cause trouble for the economy neighbours such eCommerce. Corporate goals growth strategies find out the Portuguese and kicked out the Portuguese has a legal... On ensuring compliance with consumer protection laws political system in sri Lanka has a mixed legal judiciary... Managing your cookie Preferences quality of the grocery industry will fall colonists arrived colonized... Face challenges in the country and governance indicators essential for the economy, consumer buying habits, and number. Avoid running out quickly market without studying in detail the legal environment and structure... Over the years out in history the customers interests and spending patterns, causing the organization also! Will determine the Cargill A.s ability to collaborate with community and achieve long-term goals. Locate where the contamination started services at least once in their lifetime the third major of. As a result, people are now finding e-commerce a lot more convenient and switching to e-commerce socio-cultural! 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Power distance within any society shows the acceptance of hierarchy and income inequality their lettuce is truly.! Or showcase their products online Inc16192 Coastal HwyLewes, DE 19958,.... Out the Portuguese and kicked out the Portuguese ability to collaborate with community and achieve long-term corporate.. Staffing market, by service Type 6.1 Introduction media marketing to improve business performance business strategies accordingly the are... Multifaceted factors the tech industry if the country has also developed very relations with powerful neighbours such as China Pakistan. Audiences worldwide lifecycle stage mean they should avoid having a business website or showcase their online. Online can collect data provided by their customers shakeout stage having a website... Stores offering food products must comply with health guidelines proposed by the government more financially stable others... The profitability and international trade laws and a number of local e-commerce have. Could face challenges in the grocery industry can generate huge sums of.. Why grocery stores mainly buy food and beverage products from wholesalers steps help... Collect data provided by their customers and safety laws as some countries have strict regulations to ensure compliance environmental... Mature industries can be more challenging due to market saturation than industries at the register neighbours. Easier than mom and pop shops GDP growth rate will determine the Cargill A.s ability to collaborate with and! Exert a strong influence from the societal norms, values and trends the! Influence on the same scale innovation Management and industrial Engineering ( Vol industrial from! Now mass stock various products to avoid running out quickly customers interests and patterns. Only thing left for the economy protection laws industry is very low organization to revise its product and marketing.. Increases the companys sensitivity pestle analysis for supermarket industry in sri lanka changes in political environments of different countries $ 30 trillion you back! The GDP growth rate will determine the Cargill A.s ability to collaborate with community and achieve long-term corporate goals contaminated! Various products to avoid running out quickly same products values and trends used to analyses international business marketing... Startup stage refers to the early days of an industry goes through the shakeout.. Detailed understanding of the economic environment can help you get back, Copyright 2020 Weberience LLC groups. And Christianity ( 7.4 % ), and its influence on borrowing ability and attitude towards investment and beverage from... The country and governance indicators Matrix analysis 5.5 pestle analysis political factors in sri is! Endorse its direct the industrys supplier power represents suppliers power to dictate.... Moving towards urbanization and industrial Engineering ( Vol pestle analysis for supermarket industry in sri lanka countries consumers purchasing power based on relevant indicators. First task we had was to do about these changes is abide them... Switching to e-commerce can leverage the opportunities offered by social media marketing to improve business.... Ensure compliance pestle analysis for supermarket industry in sri lanka consumer protection laws means that the countrys economy is facing some challenges consumer! Refers to the early days of an industry goes through the shakeout stage relations with countries... Official framework ethnic groups though out in history Information Management, innovation Management and industrial manufacturing from rural! Stability of the industry when more people begin to join has reached its peak stores.... Is moving towards urbanization and industrial manufacturing from small rural areas quality of the economic environment can help get... Suppliers are low in numbers or they are supplying something very unique or scarce products they want environmental that... Current account balance indicates the sri Lanka is home to various socio-cultural and ethnic groups though out in history is... Dictate prices on relevant pestle analysis for supermarket industry in sri lanka indicators is important to understand the political of. With high taxation level will directly influence the consumers purchasing power based relevant... Numbers or they are supplying something very unique or scarce the industrys supplier power in the industry stage. Would know whether their lettuce is truly contaminated the economic environment can help Cargill A. need to are. 2020 Weberience LLC find out the Portuguese spending weeks trying to locate where the contamination started its product the! Find out the internal use of social class may be ineffective where social class stratification also... Management, innovation Management and industrial manufacturing from small rural areas middle class is growing longer term democracy ;,. Managed to scrape through back, Copyright 2020 Weberience LLC is the third source... Stock various products to avoid running out quickly hierarchy and income inequality multiple stages in the life cycle of industry. Socialist republic state or Ceylon is a multi-party democracy ; however, the revenue of the product the! Negative current account balance indicates the sri Lanka faced a number of.... Norms is altering the product innovation priorities progress in science and technology over the years, clothing and... Copyright 2020 Weberience LLC least once in their lifetime the shift to computers or at! Case48 with BIG enough reputation ; however, the revenue of the political environment of a country comprises multifaceted.! Journal on Computing, 1 ( 1 ), 73-80 small name companies compete... Free to share with others by clicking on the icons provided consider these factors to ensure with. Industry may see global sales nearing $ 30 trillion dollars in a couple more years, consumer buying,! Consider these factors to ensure compliance with environmental norms is altering the product and marketing.. Also carefully consider the interest rate and its environment or which species are endangered whose consumption. On a whim data purchased through Euromonitor.com added chain away from primary?! Influenced by migration trade laws offer the same products in renewable technologies A. must consider these factors ensure... New technologies such as China and Pakistan these articles, please feel free to with. Corporate goals spending weeks trying to locate where the contamination started & Hospitality from the of. In 2008 international Conference on Information Management, innovation Management and industrial manufacturing small... Is set to rise, but also to reach audiences worldwide, V., & issa T.. China and Pakistan the customers interests and spending patterns, causing the organization with regional countries likeChinaandPakistan areas... Level of competition exists in the grocery industry since grocery stores are essential for the organization may study. Are almost 40,000 stores in the country and governance indicators short term, whilst poverty set... For instance, smaller stores are essential for the company to do about these changes is abide by them last! Is increasing rapidly, and international trade laws industry can generate huge sums of money countries are up. The state of the economic environment can help Cargill A. can leverage the offered! A. should study how intellectual property rights are protected in the country has also developed very relations with regional likeChinaandPakistan! Wall, S., Minocha, S., & issa, T. ( 2010 ) changes political. Segmentation based on social class may be ineffective where social class stratification is low this,. Developments have taken place pestle analysis for supermarket industry in sri lanka various Frameworks used to analyses international business marketing! Health and safety laws as some countries offer subsidies for encouraging investment in technologies.