Likewise, some shops in other countries have to pay a tax for offering fatty foods. Sri Lanka PESTEL Analysis - Comprehensive Country Outlook. This market research report covers current and future business risk analysis forSri Lankaalong with macroeconomic factor analysis. As more people join, the competition in the industry increases. (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). Political - turmoil, Economy - shambles, Social - upheaval, Technology - fallout as no power, Environment - distraction due to poor policy implementation, Legal - politicised hence no consistency. Warning! Grocery stores and supermarkets are interchangeable terms. Retailers who offer products online can collect data provided by their customers. As the population is increasing over the years, the grocery industrys customer base increases if they can attract new customers. 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. 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. A careful evaluation of legal aspects is required to avoid getting into some serious trouble. 1. Total Sri Lankan oral care market share is approximately Rs. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. PESTLE Analysis Political Factors In Sri Lanka it is a socialist republic state. The government regularly organizes elections among a limited number of political parties, and the majority vote holding party comes to dominance. Consumers prefer the natural toothpastes to the synthetic, artificial flavored toothpaste that is commonly found. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). Sri Lankan Island has an area of25,330square miles, and its the120thlargest country in terms of size and area. Big name companies are able to offer a selection online. Consumer Foodservice By Location in Mexico, Analysis of the country's political and macroeconomic stability, An overview of the economic structure and major industries. 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. Every industry has a different buyer power. These products arent bought by retailers on a whim. 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. Cargill A. should also carefully analyze the availability of skilled human capital as a shortage of skilled labor can affect business efficiency and make talent attraction and retention more challenging. Besides that, grocery stores are not owned by huge chains, unlike supermarkets. 5 Market Analysis 5.1 Regulatory Scenario . However, they are quite different. As well as cash registers to manage money after a sale. So I did it on Sri Lanka. Since grocery stores hold great significance, today we have decided to conduct a Grocery Industry Analysis. This will cause the demand for grocery stores to fall significantly. SWOT analysis is a business technique to highlight an organizations strengths, weaknesses, opportunities, and threats. After that, it reaches the maturity stage, and then finally, it goes through the decline stage. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. Our General Mills SWOT Analysis examines internal and external factors that impact the company's operations, What is root cause analysis, the goal, and why is it important? Such changes can also influence the consumers' spending patterns, causing the organization to revise its product and marketing strategies. For instance, people enjoy buying products in bulk. Country Background 5 Page For conducting external environmental analysis of Coca-Cola, the country selected is Sri Lanka. Market Research Reports, Inc16192 Coastal HwyLewes, DE 19958, USA. Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. This stage of the industry life cycle represents growth in the industry when more people begin to join. This is costly for the companies. Sri Lanka is a democratic republic with a semi-presidential system where elections are held regularly. This repels customers. Proposal, Question In this way, grocery stores are essential for the economy. Grnig, R., & Morschett, D. (2017). Access and download reports and data purchased through Euromonitor.com. ~ 0.0 Page). Porters five forces model helps analyze the competition level in an industry. Environmental factors affecting Sri Lanka. Incomes could face challenges in the short term, whilst poverty is set to rise, but the middle class is growing longer term. The grocery industry has a large customer base in every part of the world, especially in developing economies where large supermarkets are rare. In the first stage, we constructed the grocery industry life cycle. Where should we focus our expansion strategy? Amnesty International (2021) Sri Lanka Human rights, available at: https://www.amnestyusa.org/countries/sri-lanka/ (accessed 08 March 2021), BBC (2019) Sri Lanka country profile, available at: https://www.bbc.co.uk/news/world-south-asia-11999611 (accessed 01 March 2021), Condiliffe, J. Economic factors affecting Sri Lanka. It would allow farmers and manufacturers to input information about food products in real-time. Moreover, even if the grocery store tries to charge a different price from the market, buyers will simply switch to other grocery stores since many substitutes are available. Commercial Bank of Ceylon PLC is one of the largest private sector commercial bank and the third-largest bank in Sri Lanka in terms of total assets. We are here to help. Out of which, the per capita income of the country was3697dollars, and its113thworlds highest. Once a food, like lettuce, has E.coli, every store needs to toss out their lettuce. civil wars, political power struggle, and suppressing dissent and activism in the past. Hou, J., Lu, Q., & Han, Y. Accordingly, we never encourage or endorse its direct It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. Offering luxury products at premium prices to a market where the high-end market is considerably small in number will require Cargill A. to adopt the niche marketing strategies. Technological environment is the next element to discuss in the PESTEL analysis of Sri Lanka. Developing international strategies. Synopsis. Sri Lanka has made some good progress in science and technology over the years. The minimum monthly wage according to the National Minimum Wage Act is 10,000 Rupees worth 50 US dollars. However, the country has also developed very relations with regional countries likeChinaandPakistan. Demography. PESTEL. Academic writing has no room for errors and mistakes. Growing tensions and instabilities in the global political environment can affect the Gold industry growth and limit the growth opportunities available to Cargill A. 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Understanding the impact of technology on firms business models. Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of Cargill A. M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. Sri Lanka has conflicted relations withIndiain the past, but both countries have managed to resolve their conflict amicably. High unemployment signals the availability of surplus labor at comparatively lower wages. Hence, Cargill A. should study how intellectual property rights are protected in the host country and make the business strategies accordingly. Since grocery stores are a lot more than supermarkets, they are responsible for providing employment to many people. Not following these laws exactly as outlined will lead to legal troubles like bankruptcy and foreclosure. British colonists arrived and colonized the island from 1815-1948. Approximately more than21million people are populating Sri Lanka. Some countries offer subsidies for encouraging investment in renewable technologies. Hence, the grocery industry suffered. All Rights Reserved, more than 26,000 are simple grocery stores, Assessing the Competition: Porters Five Forces Model, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. PEST Analysis: Sri Lanka. IEEE. Its non-negotiable. The industry life cycle helps in highlighting the stage where an industry currently lies. This change in consumer behavior impacts the grocery industry negatively. Aug-22-2018. Springer Berlin Heidelberg. Hence, no competition exists at that time. Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. At this point, the industrys growth rate decreases since it is already operating at its full potential. 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. . PESTEL analysis is a widely used strategic planning and management tool. The economic and regulatory environment in a monopolistic or oligopolistic structure will be different from the monopolistic competition and perfect competition. To conclude, the PESTEL model is an important business tool that involves a detailed analysis of macro-environmental factors that shape the business environment. 2. It is worth noting that Sri Lanka faced a number of political challenges e.g. They arent producing anything on their own. The Sri Lankan economy is going through a massive . 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. In fact, Sri Lanka has received the highest investment from China. 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. In this stage of the industry life cycle, some companies emerge as larger and more financially stable than others. Also developed very relations with regional countries likeChinaandPakistan, people enjoy buying products in bulk covers. And its the120thlargest country in terms of size and area companies are able to offer a selection online in. 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Made some good progress in science and technology over the years are the... Strait and the countrys economy is going through a massive encouraging investment in renewable technologies demand for stores! Dissent and activism in the PESTEL analysis of macro-environmental Factors that shape the business....
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