This market research report covers SWOT (strengths, weaknesses, opportunities and threats) analysis forSri Lanka. ENVIRONMENTAL ANALYSIS PESTEL Analysis Analysis of Political Factors Cinnamon is one of Sri Lanka's main exports. 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 It means that the countrys economy is moving towards urbanization and industrial manufacturing from small rural areas. This can happen when unemployment rates spike. The marketing department of Cargill A. can use the information retrieved from social, environmental analysis to target the consumer groups and increase the appeal of offered products to potential buyers. Heres what you need to know. It has very close cultural interactions with India as well. Legal is the sixth factor of PESTEL analysis. The business practices of the Cargill A. are influenced by the prevailing economic structure. 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. The last factor of Porters Five Forces Model analyses the threats already existing companies face from new entrants. Porters five forces model helps analyze the competition level in an industry. Thank you for your email subscription. 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. Moreover, there are laws to set the maximum price, ensure a certain quality standard and protect consumers from fraudulent marketing claims. Issa, T., Chang, V., & Issa, T. (2010). The maturity stage leads to the decline stage. Since grocery stores are a lot more than supermarkets, they are responsible for providing employment to many people. If you purchase a report that isupdated in the next 60 days, we will send you thenew edition and data extraction Free! Similarly, market segmentation based on social class may be ineffective where social class stratification is low. Antitrust issues and data breaches are causing the government to look into how data is stored, used, and shared. Grocery stores are one of the sub-sectors of the retail industry, along with six other sub-sectors. 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 . It would allow farmers and manufacturers to input information about food products in real-time. The capital of the country is Sri Jayawardenepura Kotte, whereas Colombo is the trade hub and largest city. Service, Dissertation The country imports it fromMalaysia,Singapore,UAE, India, and China. The organization may also study the industry specific taxation policies to understand the host government's priorities and interest in developing industries. Hence, Cargill A. should study how intellectual property rights are protected in the host country and make the business strategies accordingly. Help, Academic All rights reserved LCHW. Grocery stores are afraid to get substituted since a huge number of homogeneous stores exist that offer the same products. 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). Its top imports are refined petroleum, knitted fabric, cars, gold, and broadcasting equipment that mostly come from China, India, UAE, Singapore, and Malaysia (OEC, 2021). 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. I cant even imagine how difficult my life would be. Political stability creates economic growth, due to which the disposable income of consumers increases. Majority of the people live in rural areas and rely significantly on agriculture for their livelihood. In FY22, the company obtained three new patents; in addition, it submitted 36 new designs and applied for about 44 more patents across several . Back then, there wasnt enough technology for e-commerce, and few supermarkets were present. 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. In this way, grocery stores are essential for the economy. Hence their products are identical. Each society has distinctive norms and values that play an important role in shaping consumer behavior. Sri Lanka is a beautiful country with fascinating attractions such as beautiful beaches, UNESCO sites, national parks, tea gardens, islands, scenic landscape, unending bird chirping, trumpeting animals, and seafood to name but a few. This affects the retail industry, particularly big names like Wal-Mart and Amazon, who provide products online. Like a point of sales system. Organizational culture derives strong influence from the societal norms, values and trends. The demand and supply of labor determine the wage rates and supply of skilled workforce. This investment will also increase stakeholder satisfaction and expand the customer base due to enhanced brand image. Frequent changes in government policies harm business performance by increasing environmental uncertainty. Cargill A. must study and predict the labor market conditions to understand how it can attract talented workers and leverage their skills to improve business performance. The consumers spending patterns are influenced by their purchasing power of money. Thats when shops began to establish. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. 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. As the population is increasing over the years, the grocery industrys customer base increases if they can attract new customers. Cargill A. must consider these factors to ensure compliance with consumer protection laws. In the grocery industry, buyers have great power. Cargill A. cannot enter a new market without studying in detail the legal environment and regulatory structure of the new consumer market. Most companies have a business website. Besides that, grocery stores are not owned by huge chains, unlike supermarkets. These stores specialize in food items. 1, pp. There are almost 40,000 stores in the US that sell groceries. This is the third major source of revenue generation to the economy. Therefore, governments in some countries might take action against stores for keeping items packed in plastic packaging. Political factors: Anti-trust issues. This is why grocery stores in the industry feel threatened. 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. Pestle analysis of Sri Lanka. A PESTLE analysis is used in business to assess the industry which an organisation is in. Life expectancy is very good as evidenced from the fact that it is 72 years for men, and 78 years for women (BBC, 2019). 1189 Words; 5 Pages; Jun 15th, 2018 Published . Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of Cargill A. This report coversSri Lanka's PESTEL (political, economic, social, technological, environmental and legal) analysis. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. When retail stores branch into other countries, they need to abide by the policies in that country too. What are the best sectors for investment? Likewise, the computer literacy rate needs improvement as it was only 27.5% in 2019 (Hewage and Munasinghe, 2019). This stage of the industry life cycle represents growth in the industry when more people begin to join. Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). The health and efficiency of financial markets will determine Cargill A.s ability to raise the capital at fair prices. 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. Not following these laws exactly as outlined will lead to legal troubles like bankruptcy and foreclosure. Buddhism is the majority religion, and roundabout70.2%of the people believe in Buddhism. All retail stores need to meet the environmental requirements for consumer and employee safety. Big name companies are able to offer a selection online. Therefore, they wont let newcomers come and snatch their market share. He holds an MSc in Tourism & Hospitality from the University of Sunderland. If they dont, not only will the food by pulled from the shelves, but it could also lead to legal troubles for the company. Sri Lankas top main exports are ladies undergarments and tea. 2. of the box and hire Case48 with BIG enough reputation. Choosing the vision, mission and the reason of existence for Sri Lanka. Thats when customers got attracted to grocery stores, and as a result, the number of grocery stores increased. The major social networking sites in the country in terms of number of users are Facebook, Instagram, Messenger, and LinkedIn. Other relevant articles for you are: PESTEL analysis of the Fashion Retail Industry in the UK. Sri Lanka has a rich and long history dating back to125,000years ago, but the country has a documented record of3000years. The first task we had was to do a PESTEL analysis of our home-country that we were in charge of. Economists are predicting a global recession. We are here to help. So without wasting time, lets proceed and analyze the competition in the grocery industry. Therefore, grocery stores and supermarkets may sound like synonyms. This is the exact premise behind CostCo, a Canadian retailer. 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. The economic and regulatory environment in a monopolistic or oligopolistic structure will be different from the monopolistic competition and perfect competition. Retailers who offer products online can collect data provided by their customers. According to an estimate, the annual nominal GDP of Sri Lanka in 2020 was81.120billion dollars, and its66thworlds highest. 2. The growing use of mobile phones and social networking sites must be considered when developing marketing and communication strategies. Okay, I might be being a little dramatic because I can still get my groceries from the supermarket, but its not the same. Copyright 2017 2025. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. Now that you understand the difference between grocery stores and supermarkets lets proceed further and conduct a grocery industry analysis. Major political instability and distressed government finances have blighted Sri Lanka, which is 'mostly unfree' for economic freedom. PESTLE analysis is a business tool that analyses the external factors affecting an organizations operations. 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). Although, Limited-service restaurants in Indonesia saw impressively strong growth in terms of overall transactions in 2022 a turnaround from 2021s continued decline.. The industry analysis consisted of three stages. The organization should also carefully consider the interest rate and its influence on borrowing ability and attitude towards investment. Its basically a digital catalogue for their products. Total Sri Lankan oral care market share is approximately Rs. These conditions are often standard. Imagine a world without grocery stores. Via helps you navigate a fast-changing digital marketplace. Whether their food is actually contaminated or not. For instance, corporations fear a soda tax; its an increased tax for selling soda in stores. P. - John Keells are known as the influential people. Its not only physical retail stores under scrutiny. 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. And should a problem arise, Walmart could find the source immediately. The industry life cycle helps in highlighting the stage where an industry currently lies. Operating in such a market can lower the production cost of Cargill A. 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. Check your email 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 adoption of new technologies has shortened the lifecycle of new product development. It also maintains good foreign relations with powerful neighbours such as China and Pakistan. The retail industry was able to hold itself up even during the recession. Marketing and human resource strategies in a traditional, patriarchal society with clearly distinguished gender roles will be different from societies with low gender stereotypes. 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 grocery industry requires political stability to make a profit. 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. These steps can help you get back, Copyright 2020 Weberience LLC. Grocery stores and supermarkets are interchangeable terms. More retail shops are offering food products. Hou, J., Lu, Q., & Han, Y. Particularly, Chinese investment has been massive. Therefore, if there is high inflation, people will be reluctant to buy more. In 2008 International Conference on Information Management, Innovation Management and Industrial Engineering (Vol. Revista ESPACIOS, 39(16). on WhatsApp for any queries. 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. Moreover, adopting efficient waste management practices in organizational units that are located in or near urban areas is highly crucial for Cargill A. However, Indian and Sri Lankan cultures are almost the same. Today, new products are developed quickly, and supply chain partners have also gained more power. Most recent surveys suggest that around 76 % students try professional Research and development activities are highly important in an environment characterized by creative disruption. Providing a secure work environment for the workforce is the ethical and moral obligation of Cargill A. Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable). In a political context, the key to success in a dynamic international business environment is to diversify the systematic risks. This is set by the government. 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 But just like every other industry, the retail sector is affected by the six principles of PESTLE/PESTLE analysis. So naturally, this causes rivalry among grocery stores. Detailed environmental analysis is imperative before deciding to enter a new market or start a new product line. We work with our associate Global market research firms who are known leaders in their respective domains to obtain right market research solution for our customers needs, be it custom research or syndicated research reports. Likewise, communal tensions and discrimination due to low caste system also need to be addressed. Besides that, in the growth phase, consumers have many alternatives. PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro . 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. 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? The online shopping trend is growing among people and it has given rise to many local e-commerce stores. The environmental standards, laws and regulations vary across different markets. Integrity, Cargill A Case Analysis and Case Solution, 3-Joe-Smith-s-Closing-Analysis-A-Spanish-Version, 4452-China-Versus-Japan-On-the-Verge-of-a-Trade-War, 4453-Alleviating-Poverty-and-Malnutrition-Successful-Models, 4457-Sugar-Daddy-Quotas-and-the-U-S-Government, 4458-Australian-Wheat-Board-Ltd-Becoming-a-Grower-owned-Corporation, 4459-Global-Farmer-and-the-Future-of-Soybean-Production-Spanish-Version, 4460-Global-Wine-Wars-New-World-Challenges-Old-A-Spanish-Version, 4461-Global-Conservation-Trust-A-Foundation-for-Food-Security. A careful evaluation of legal aspects is required to avoid getting into some serious trouble. Regulatory bodies emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. Literally. Legal factors become trickier once the company expands overseas or offers products online. They all promote the countrystourism industry. A retail store needs to meet legislative conditions before opening the shop. Or learn more about our privacy policy and how we use and store your data. For instance, extreme weather conditions can increase the cost of operations and compel the Cargill A. to make the value chain more flexible. If you are happy with this select "Accept All". The supplier power in the grocery industry is very low. However, more needs to be done to accelerate the digitalisation process. Check out our SWOT analysis of the food industry to find out the internal . This market research report covers current and future business risk analysis forSri Lankaalong with macroeconomic factor analysis. The retail industry has greatly benefited because of the internet. As a result, the stronger companies acquire the smaller companies or force them out of the industry. In such an environment, Cargill A. should invest in disruptive technologies to maximize the profits and re-invest the profits for future disruptive technologies. 1. - Political stability and policy continuity is essential for economic and business growth. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. This is because grocery stores mainly buy food and beverage products from wholesalers. Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affecting output, which is pressurised by hyperinflation. November 2022 | 35 pages | ID: S0B95217862AEN. 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. to get Coupon Code. Or when a certain industry is hit harder than others. You might be thinking that there is no difference between grocery stores and supermarkets, but thats not true. (vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display("vi_23289101301") }), Technological factors impacting Sri Lanka, Environmental factors impacting Sri Lanka. Currently, Cargill A. is present in different countries, each having own political tensions. When its on the decline, the opposite is true. Subscribe now to get your discount coupon *Only A stronger economy allows consumers to buy products they want. Because when contamination happens, every store in the chain has to get rid of the product. High GDP also signals the consumers ability to spend more on offered products. 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. ( 9.7 % ) attract new customers, communal tensions and discrimination to. 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Analysis analysis of the internet are laws to set the maximum price ensure... Within PESTEL analysis of our home-country that we were in charge of or force them out the! Life cycle represents growth in the grocery industrys customer base increases if they can attract new customers, people be..., values and trends supermarkets lets proceed and analyze the competition in industry. In rural areas and rely significantly on agriculture for their livelihood environmental uncertainty let newcomers come snatch! This stage of the people believe in buddhism people believe in buddhism covers SWOT ( strengths weaknesses.