Consumer Foodservice By Location in Mexico, Analysis of the country's political and macroeconomic stability, An overview of the economic structure and major industries. 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 . Cargill A. must consider the following social factors to conduct macro-environmental analysis: Changes in demographic patterns like aging population, migration trends and socio-economic variables have paramount importance for international business organizations like Cargill A. Operating in such a market can lower the production cost of Cargill A. Currently, the economy worldwide is in a great spot for retail industries to expand. Daidj, N. Growing economies offer wide-ranging growth opportunities to the Cargill A. High unemployment signals the availability of surplus labor at comparatively lower wages. Cargill A. must study the specific environmental regulations of the country under consideration to understand which resources (like water, electricity etc.) Big name companies are able to offer a selection online. Likewise, the computer literacy rate needs improvement as it was only 27.5% in 2019 (Hewage and Munasinghe, 2019). Because when contamination happens, every store in the chain has to get rid of the product. Out of these 40,000 stores, more than 26,000 are simple grocery stores. A., & Gomez, o. This detailed PESTEL analysis of Sri Lanka aims to explore some of the powerful macro factors that impact on Sri Lanka today and may continue doing so in the future. Particularly, Chinese investment has been massive. There are almost 40,000 stores in the US that sell groceries. This is why grocery stores in the industry feel threatened. Industry analysis provides complete insight into an industry. 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. This article is only an example High GDP also signals the consumers ability to spend more on offered products. The growing environmental pollution coupled with technological advancement has compelled business organizations to adopt innovative recycling and waste management practices. 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The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. Hence, the grocery industry suffered. I cant even imagine how difficult my life would be. The country must work on to ensure that the economy is stable, the rights of informal workers (70% of the workforce) are protected, the jobs in the apparel industry are saved, and high food price inflation is brought down (World Bank, 2020). Demography. Subscribe now to get your discount coupon *Only Developing international strategies. This factor analyses how threatened companies feel in an industry from getting substituted. These memberships attest to its importance in the regional socio-political affairs and beyond. Sustainable business strategies and PESTEL framework. Hence all the suppliers have identical products. If you need help with something similar, Entering in mature industries can be more challenging due to market saturation than industries at the growth stage. 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. Customers have more disposable income to spend on friverous products. After the growth stage, an industry undergoes the shakeout stage. Wall, S., Minocha, S., & Rees, B. Moreover, the business performance of Cargill A. is also influenced by the extent to which the host country government has spent on core infrastructure development. Here's what you need to know. are considered rare or which species are endangered whose excessive consumption can cause trouble for the organization. The organization may also study the industry specific taxation policies to understand the host government's priorities and interest in developing industries. The number of international tourists who have arrived to Sri Lanka during the year 2019 is 1.9 Mn and the foreign exchange earned through tourism is approximately Rs 646 Mn according to the Annual Report released by Sri Lanka Tourism Development Authority. What are the country's risks and vulnerabilities? These steps can help you get back, Copyright 2020 Weberience LLC. 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. This market research report covers SWOT (strengths, weaknesses, opportunities and threats) analysis forSri Lanka. Help, Academic Grnig, R., & Morschett, D. (2017). (vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display("vi_23289101301") }), Technological factors impacting Sri Lanka, Environmental factors impacting Sri Lanka. Cargill A. should invest time on understanding the consumption motivations and social trends that define the consumption behavior. Hence, no competition exists at that time. The products are either shipped to the customers home or the closest store for pickup. However, Indian and Sri Lankan cultures are almost the same. Once a food, like lettuce, has E.coli, every store needs to toss out their lettuce. Cargill A. should carefully consider the on-going technological innovations to stay ahead of the competition. To gain more market share with identical products, grocery stores spend money to make their store look more attractive so that more customers get attracted to their stores. and cannot be used for research or reference purposes. Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). They can easily see which products people are buying, leaning towards, or completely ignoring. Consumer preferences are the main social factors affecting the retail industry. Technology' is the fourth factor of PESTEL analysis. The country is drawing a lot of foreign investments every year. Here you can find food products, clothing, and electronics, in large quantities. For instance, smaller stores are making the shift to computers or iPads at the register. Yksel, I. When labor markets are flexible, Cargill A. can take advantage of higher labor productivity. Environmental factors affecting Sri Lanka. Its standard for any store. Check your email Service, Dissertation As the population is increasing over the years, the grocery industrys customer base increases if they can attract new customers. Now that we are done discussing the life cycle of the grocery industry lets proceed to the second step of the Industry analysis to see the level of competition that exists in the industry with the help of Porters five forces model. The power distance within any society shows the acceptance of hierarchy and income inequality. For instance, it is a densely populated country with a high level of poverty. Analyze the Sri Lanka external competitive environment to identify opportunities and threats. However, now people prefer groceries from supermarkets. Country Profiles examine the economic and political trends in 210 countries and associated regions, serving as a one-stop-shop for data and analysis on the economy, political landscape and the business environment. There are almost 40,000 stores in the US that sell groceries. A stronger economy allows consumers to buy products they want. Via helps you navigate a fast-changing digital marketplace. Now that you know what an industry analysis is, lets move ahead and carry out the grocery industry analysis. Which countries are moving up the value added chain away from primary sectors? Sri Lanka has a rich and long history dating back to125,000years ago, but the country has a documented record of3000years. It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. British colonists arrived and colonized the island from 1815-1948. If you purchase a report that isupdated in the next 60 days, we will send you thenew edition and data extraction Free! PEST Analysis: Sri Lanka. The growing use of mobile phones and social networking sites must be considered when developing marketing and communication strategies. PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro . However, if the economy is poor, it doesnt matter how many products are offered. Grocery stores are one of the sub-sectors of the retail industry, along with six other sub-sectors. These steps can help you get back, Copyright 2020 Weberience LLC. The retail industry was able to hold itself up even during the recession. As Cargill A. looks to expand and leverage its competencies and core capabilities, conducting the PESTEL analysis is imperative for developing effective strategies and achieving long-term growth objectives. A strategic framework for technology evaluation. Follow this link to learn more about our cookie policy and how we use cookies. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. Springer Berlin Heidelberg. Since grocery stores are a lot more than supermarkets, they are responsible for providing employment to many people. Consumers prefer the natural toothpastes to the synthetic, artificial flavored toothpaste that is commonly found. Cargill A. needs to understand the online shopping behavior by considering the generational differences as younger consumers are more inclined to shop online than older customers. Help, Academic As a result, the revenue of the grocery industry will fall. Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affecting output, which is pressurised by hyperinflation. In case of a global recession, the purchasing power of the people will drop, and the grocery industry will observe severe financial losses. Its basically a digital catalogue for their products. 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. Are buying, leaning towards, or completely ignoring networking sites must considered! Many people from getting substituted the shakeout stage at the register which resources ( like water, etc! 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