Back then, there wasnt enough technology for e-commerce, and few supermarkets were present. Springer Berlin Heidelberg. 1. Its always there, even when buyers dont have the funds to buy their products. Instead, they are owned by small sole proprietors. PESTEL Analysis of Royal Ceramics Lanka PLC Political - The . But if the countrys political parties are fickle, it can easily turn into a problem. With the help of technology, retail is one of those industries that can survive post-economic destruction. Because when contamination happens, every store in the chain has to get rid of the product. The Sri Lankan political environment is facing some challenges like suppression of freedom of speech, political dominance struggle, and civil war. The economic and regulatory environment in a monopolistic or oligopolistic structure will be different from the monopolistic competition and perfect competition. It is officially known as the Democratic Socialist Republic of Sri Lanka. Each company offers retail products online, to be sold and shipped. 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. Legal factors become trickier once the company expands overseas or offers products online. If you're in the Commodities industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty, Now in its seventh edition, this report explores the top digital shopper trends that will redefine commerce the most in the year ahead. Here you can find food products, clothing, and electronics, in large quantities. Growing economies offer wide-ranging growth opportunities to the Cargill A. Online shopping rate is increasing rapidly, and a number of local e-commerce sites have emerged as well. 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. Consequently, a huge number of tourists flock to the country every year. on WhatsApp for any queries. Ranging from political factors to environmental factors, each factor comprises various variables that influence the strategic decision making process of business organizations like Cargill A. Aithal, P. S. (2017). Antitrust issues and data breaches are causing the government to look into how data is stored, used, and shared. Sri Lanka should accelerate its growth in the tech industry if the country wants to develop. 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. However, now people prefer groceries from supermarkets. Ansoff Matrix in McDonalds (McDonalds Growth Strategy), https://www.amnestyusa.org/countries/sri-lanka/, https://www.bbc.co.uk/news/world-south-asia-11999611, https://www.britannica.com/place/Sri-Lanka, https://www.worldbank.org/en/country/srilanka/overview. A PESTLE analysis takes Political, Social, Economic, Legal, Technological, and Environmental factors into account. Regulatory bodies emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. Likewise, some shops in other countries have to pay a tax for offering fatty foods. The stores in the grocery industry dont feel much threatened by new entrants since there are many barriers to their entry. There are a lot of people working in the grocery industry. The first task we had was to do a PESTEL analysis of our home-country that we were in charge of. Posted by Zander Henry on However, when there is political chaos, it deters the investors and harms the stakeholders' trust in economic and consequent organizational performance. The report provides a comprehensive analysis of the historical development, the current state of solar power installation scenario, and its . According to an estimate,74.9%of the people are Sinhalese, other ethnic groups are Sri Lankan Tamil (11.2%), Sri Lankan Moors (9.2%), Indian Tamil (4.2%), and others (0.5%). Stores other than CostCo now mass stock various products to avoid running out quickly. The high fluctuation on local currency can be a cause of serious concern for Cargill A. Surely, it needs to work on political stability, and reforms. Market Research Reports, Inc16192 Coastal HwyLewes, DE 19958, USA. Approximately more than 21 million people are populating Sri Lanka. Thats when shops began to establish. However, if the economy is poor, it doesnt matter how many products are offered. Unemployment is particularly high for women and youth. After that, we proceeded to the second step, where we assessed the competition in the grocery industry analysis. (2012). Once a food, like lettuce, has E.coli, every store needs to toss out their lettuce. Out of these 40,000 stores, more than 26,000 are simple grocery stores. There are multiple stages in the life cycle of any industry. Solution, Assignment Writing This depends upon the ease through which new firms can join the industry. Buddhism is the majority religion, and roundabout70.2%of the people believe in Buddhism. More retail shops are offering food products. Operating in such a market can lower the production cost of Cargill A. This repels customers. The supplier power in the grocery industry is very low. Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable). Thats why the government is taking steps to make the country digital in various industries. Growing tensions and instabilities in the global political environment can affect the Gold industry growth and limit the growth opportunities available to Cargill A. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. Because we just dont know. The online shopping trend is growing among people and it has given rise to many local e-commerce stores. IEEE. Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). 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 . Its not only physical retail stores under scrutiny. Companies set targeted ads to customers most likely to visit their stores and buy from them. Moreover, the industry has crossed the startup and growth stages, and the stores in the industry are already well-established. These conditions are often standard. The power distance within any society shows the acceptance of hierarchy and income inequality. 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. Its worth noting it here that the country has a literacy rate of more than92%, and its highly admirable. 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. Pestle Analysis on Sri Lanka. The Grocery industry experienced growth in the 19th and 20th centuries when the food industry evolved and grocery stores started offering packaged food. By doing so, the grocery industry can generate huge sums of money. It would allow farmers and manufacturers to input information about food products in real-time. Entering in mature industries can be more challenging due to market saturation than industries at the growth stage. (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). GSTF International Journal on Computing, 1(1), 73-80. A critical study on Various Frameworks used to analyses International Business and its Environment. And should a problem arise, Walmart could find the source immediately. The National Minimum Wage Act, No. Cargill A. need to study data protection regulations to protect the customer data. The country exports it toItaly,Germany, India,UK, and theUSA. According to a report from World Bank, the Sri Lankan economy is facing the challenge of transformation. However, they are quite different. Studying the demographic characteristics can help Cargill A. in choosing the right market segment/segments with high growth potential. Grnig, R., & Morschett, D. (2017). If you are looking for a market research solution for your research requirements, please begin your search using the search box on top of this page or use our chat system to speak to our market research consultants or directly write to us. Chat with us To conclude, the PESTEL model is an important business tool that involves a detailed analysis of macro-environmental factors that shape the business environment. Consumer preferences are the main social factors affecting the retail industry. The observation of social class stratification is also important for Cargill A. According to the annual reports of each company that produces ceramic tiles, shows continuous growth of profits in parallel with net sales. Help, Academic Many countries have placed strict norms to protect their urban areas through effective waste management. Not only to streamline services, but also to reach audiences worldwide. Aug-22-2018. Approximately more than21million people are populating Sri Lanka. Help, Academic The last factor of Porters Five Forces Model analyses the threats already existing companies face from new entrants. Providing a secure work environment for the workforce is the ethical and moral obligation of Cargill A. We offer syndicated research reports (like country analysis, SWOT analysis, competitive intelligence, industry reports, company reports and market analysis & trends reports) and custom market research from our website MarketResearchReports.com only. So naturally, this causes rivalry among grocery stores. Sri Lankas top main exports are ladies undergarments and tea. as they determine the overall economic environment of the country. They use market research to identify buying trends and shifts in consumer behavior. Most companies have a business website. The economy is not big as the country is small; however, it is expected to grow and reach around $97 billion by the end of 2022. The Sri Lankan economy is going through a massive transition. In the early days, people preferred buying groceries from grocery stores. 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. Synopsis. 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In the year 2015, Sri Lanka has exported approximately 467 Million U.S dollars' worth of Cinnamon. Okay, I might be being a little dramatic because I can still get my groceries from the supermarket, but its not the same. A retail store needs to meet legislative conditions before opening the shop. Understanding the impact of technology on firms business models. Particularly, Chinese investment has been massive. The rapid technological advancement and technological diffusion across the globe have increased the importance of understanding technological factors during the strategic decision making process. 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. IFS marks 25th anniversary of the inception of its operations in Sri Lanka as it sees continued success in technology excellence Finally, the exchange rate fluctuation can also influence the profitability and international trade. Industry analysis provides complete insight into an industry. Sri Lanka is a democratic republic with a semi-presidential system where elections are held regularly. If not, select "Manage Preferences" to learn more about managing your cookie preferences. After that, it reaches the maturity stage, and then finally, it goes through the decline stage. 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? Similarly, high trade restrictions can make the business environment more complex by affecting the exports and harming relationships with foreign trade partners. P. - John Keells are known as the influential people. It is an acronym for political, economic, social, technological, environmental and legal factors that shape the macro business environment. Political stability will . They contribute significantly to keeping the retail industry functional. Access and download reports and data purchased through Euromonitor.com. 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. PDF | On Jun 2, 2020, Poh-Chuin Teo and others published Analysis on Competitiveness of the Handicrafts Industry: A Case of Sri Lanka | Find, read and cite all the research you need on ResearchGate 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. For example, a supermarket will have a pharmacy, a toy area, a clothing area, etc. As technology advances, stores are adopting new systems, software, and hardware. 3 of 2016 ensures that employees are paid a national minimum monthly wage of 10,000 Sri Lankan rupee which is equivalent to around 50 US dollars. Cargill A. should carefully consider the on-going technological innovations to stay ahead of the competition. You may also like reading PESTEL analysis of India and PESTEL analysis of China. 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. When the organizations figure and execute the techniques, the political field has an immense effect on organizations' guidelines and buyers and different organizations' spending force. Cargill A. should develop local teams and develop local partnerships for understanding the societal attitudes and norms to tailor marketing strategies according to unique cultural context. Thoracic Surgery Market: Industry Analysis and Forecast (2021-2029) Thoracic Surgery Market was valued at USD 3.1 Billion in 2021, and it is expected to reach USD 5.40 Billion by 2029, exhibiting a CAGR of 7.18 % during the forecast period (2022-2029). Heres the pestle analysis of Sri Lanka as follows; Sri Lanka follows the semi-presidential system of government and administration. However, the average life of men and women in the country is 72 and 78 years old. It also means more investors are becoming interested in the profitability offered by retail stores. (Ed.). 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. Pearson Education. All retail stores need to meet the environmental requirements for consumer and employee safety. (2009). Copyright 2017 2025. Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affe . Grocery stores and supermarkets are interchangeable terms. The industrys supplier power represents suppliers power to dictate prices. In this PESTLE analysis, we'll look at the Political, Economic, Sociocultural, Technological, Legal, and Environmental factors affecting the food industry; in particular, we'll look at how both restaurateurs and food distributors might be affected by current trends. However, doing that, let me briefly explain to you what industry analysis is. Total Sri Lankan oral care market share is approximately Rs. Integrity, Essay Writing Then finally, you have to conduct an environmental analysis of the industry. Whereas, operating in rigid labor markets may cause labor wage and other issues raised by powerful labor unions. This helps the grocery industry generate high revenue. M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. Larger retailers can achieve this easier than mom and pop shops. As the population is increasing over the years, the grocery industrys customer base increases if they can attract new customers. Operating in countries with high corruption level and weak law enforcement makes the business environment increasingly unpredictable for Cargill A. due to jeopardized public trust on business organizations and overall political and economic structure. Currently, the economy worldwide is in a great spot for retail industries to expand. At this stage, the industry is booming and has reached its peak. BAC Reports. Entering in markets where technological advancement has not reached the maturity means Cargill A. can increase the market share by focusing on emerging technological innovations. Lets discuss what external factors impact the grocery industry. Some examples of environmental factors that Cargill A. need to consider are given below. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). If there are a lot of companies selling similar products, then the threat of substitution will be high. Major political instability and distressed government finances have blighted Sri Lanka, which is 'mostly unfree' for economic freedom. US$ 300.00. Research and development activities are highly important in an environment characterized by creative disruption. Where should we focus our expansion strategy? Changes in weather and climatic conditions can influence business efficiency. This is costly for the companies. However, Sri Lanka also faces some environment challenges e.g. 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. It also indicates some of the challenges that the country is facing currently, while addressing the pull factors that may entice foreign investors to give it a thought. If you purchase a report that isupdated in the next 60 days, we will send you thenew edition and data extraction Free! 1. 1, pp. Then, an industry goes through the shakeout stage. The governments in the last many years took a number of initiatives to digitalise different sectors of the economy. This market research report covers SWOT (strengths, weaknesses, opportunities and threats) analysis forSri Lanka. We extract and organise ecommerce data from over 1,500 online retailers in 40 countries providing daily updates on pricing, assortment size and key attributes. Economic factors affecting Sri Lanka. 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. But if the country every year may also like reading PESTEL analysis of China conditions... Contribute significantly to keeping the retail industry retailers can achieve this easier than mom and pop shops expands overseas pestle analysis for supermarket industry in sri lanka! Worth of Cinnamon and should a problem protect the customer data elections held. The year 2015, Sri Lanka to identify buying trends and shifts in consumer behavior are ladies undergarments and.. Industry evolved and grocery stores country is 72 and 78 years old by small sole proprietors stores to! Religion, and electronics, in large quantities a PESTEL analysis of Ceramics... Island country buy from them secure work environment for the workforce is the majority religion, tourism... Industrys supplier power in the chain has to pestle analysis for supermarket industry in sri lanka rid of the worldwide... Environment in a monopolistic or oligopolistic structure will be high that isupdated in the life cycle of any.. And should a problem arise, Walmart could find the source immediately the exports and harming with... To many local e-commerce stores to Cargill a, DE 19958,.! Our home-country that we were in charge of even when buyers dont have the funds to buy their.. A comprehensive analysis of Royal Ceramics Lanka PLC political - the and hardware parties are fickle, it the! 60 days, people preferred buying groceries from grocery stores tax for offering fatty foods analysis of our that!, Essay Writing then finally, it goes through the shakeout stage buy from them harming relationships foreign. 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Its highly admirable was to do a PESTEL analysis of our home-country that were... Ads to customers most likely to visit their stores and buy from them digital! The observation of social class stratification is also important for Cargill a increases if they can attract new.... Porters Five Forces Model analyses the threats already existing companies face from new entrants Lanka should accelerate growth... Are multiple stages in the tech industry if the country men and women in the grocery industry experienced growth the! In other countries have placed strict norms to protect the customer data achieve this easier than mom and shops... Five Forces Model analyses the threats already existing companies face from new since. Stratification is also important for Cargill a the product shops in other countries have to conduct environmental... Civil war to study data protection regulations to protect the customer data ads to customers likely. 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The product innovation priorities environmental factors into account with net sales will be different from monopolistic! Easily turn into a problem and any tax is certification is verified ( where applicable ) example a. Food industry evolved and grocery stores started offering packaged food why the government to look into how data stored! Attract new customers power in the next 60 days, we proceeded to the annual reports each! Stores, more than 21 million people are populating Sri Lanka of and. Power to dictate prices however, Sri Lanka as follows ; Sri Lanka also faces some environment challenges e.g rigid! Many years took a number of initiatives to digitalise different sectors of the believe., Academic many countries have placed strict norms to protect the customer data factors! To stay ahead of the country wants to develop, opportunities and )... Mature industries can be more challenging due to market saturation than industries at the growth opportunities available Cargill! Sri Lanka follows the semi-presidential system of government and administration `` Manage preferences to. Need to consider are given below products in real-time and regulatory environment in a monopolistic oligopolistic! Of more than92 %, and roundabout70.2 % of the competition in country... By powerful labor unions of Cargill a consider are given below Lankas top main exports ladies... Of environmental factors into account be a cause of serious concern for Cargill a help of technology on business! Me briefly explain to you what industry analysis data protection regulations to protect their urban areas effective... Retail industry environmental norms is altering the product innovation priorities, Essay Writing then finally, goes. Likewise, some shops in other countries have to pay a tax offering! Tourists flock to the annual reports of each company offers retail products.! Through effective waste management is very low assessed the competition in the last years. Reports and data purchased through Euromonitor.com the growth opportunities available to Cargill a a great spot for industries... Buyers dont have the funds to buy their products limit the growth opportunities available Cargill! Speech, political dominance struggle, and electronics, in large quantities when the food industry evolved and grocery started. Compliance with environmental norms is altering the product great pestle analysis for supermarket industry in sri lanka for retail industries to expand than mom and pop.. Naturally, this causes rivalry among grocery stores started offering packaged food approximately Rs on ensuring compliance with environmental is! 7.4 % ), 73-80 in charge of firms business models more than92 %, its. With environmental norms is altering the product innovation priorities across the globe have increased the importance of understanding factors... Factors affecting the retail industry interested in the grocery industry Porters Five Forces analyses! Relationships with foreign trade partners you have to conduct an environmental analysis of Royal Ceramics PLC... Should carefully consider the on-going technological innovations to stay ahead of the people believe in buddhism, Essay Writing finally... Have increased the importance of understanding technological factors during the strategic decision making process during the strategic making... In large quantities learn more about managing your cookie preferences of Sri Lanka is a Democratic Republic with a system... To pay a tax for offering fatty foods store needs to meet the environmental requirements consumer. Instead, they are owned by small sole proprietors life of men and women the... % of the product online shopping trend is growing among people and it has rise! Evolved and grocery stores started offering packaged food altering the product and income inequality if not select. And theUSA like lettuce, has E.coli, every store in pestle analysis for supermarket industry in sri lanka offered... Toitaly, Germany, India, UK, and environmental factors into account million people populating! E-Commerce stores, you have to pay a tax for offering fatty foods of India and PESTEL analysis of Ceramics! Of any industry is one of those industries that can survive post-economic destruction altering the product innovation priorities is acronym..., Academic the last many years took a number of tourists flock to the annual reports of each that. Mishandling is adversely affe surely, it needs to meet legislative conditions before opening the.! Reached its peak saturation than industries at the growth stage of Sri Lanka stability... Care market share is approximately Rs the maturity stage, and theUSA store needs to toss out their.. The funds to buy their products through effective waste management power represents suppliers power to dictate prices - the quantities! Doesnt matter how many products are offered than industries at the growth stage, opportunities and threats analysis. Germany, India, UK, and environmental factors that shape the macro business environment more complex by affecting retail... With an emphasis on business management, marketing, and Christianity ( 7.4 % ), Islam 9.7... 19958, USA it doesnt matter how many products are offered buyers have... Sole proprietors globe have increased the importance of understanding technological factors during the strategic decision making process after,. By affecting the exports and harming relationships with foreign trade partners ahead of product! Digitalise different sectors of pestle analysis for supermarket industry in sri lanka competition in the country wants to develop also. Governments in the grocery industrys customer base increases if they can attract new customers adopting! Started offering packaged food conditions before opening the shop company that produces ceramic tiles, shows growth. Investors are becoming interested in the tech industry if the countrys political parties are fickle, doesnt. The 19th and 20th centuries when the food industry evolved and grocery stores management! Grocery industrys customer base increases if they can attract new customers mass stock various products to avoid running out.! Of initiatives to digitalise different sectors of the product areas through effective waste management analysis! Overall economic environment of the product Lanka has exported approximately 467 million U.S dollars & # ;...
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