The rate of financial literacy is going up. Therefore, if the government creates favorable laws and conditions, that will be helpful for the banking business. Cargills Food City, Kings Supper City, Sentra, EH Super Pola, Sunup, Laughs, Crystal, Arpico super are some of the supermarket operators in Sri Lanka while Lanka Sathosa the state operated publics shop is also being revamped and develop to the Mega Stores concept. It could be observed that there had been times in the process meat and dairy products industry the local supplies have not been adequate and the companies had to import the material to supply the current demand and high cost was absorbed by the company. 1. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. Sri Lanka has membership and alliances with the worlds top institutions like Asian Development Bank, World Bank, IMF, SAARC, the Colombo Plan, the Commonwealth of Nations, Non-Aligned Movement, G77, and the UN. According to an estimate, the annual nominal GDP of Sri Lanka in 2020 was81.120billion dollars, and its66thworlds highest. In some countries, the government controls the banking sector to ensure a smooth monetary flow in the economy. Nestle S.A. is a Swiss food & beverage multinational company. Encourage the management of the company to source where possible for open source software as to counter the affect of the increasing cost of licensed software. It examines the political, economic, social, technological, legal, and environmental elements of the operating marketthat may have either positive or negative effects on your company or organization. Government has clearly identified the importance of the IT sector and supports the growth of this sector by giving focus to IT education and improving the IT infrastructure in the country. The Essay Writing ExpertsUK Essay Experts. 2023 Euromonitor is privately owned & trademarked. It has very close cultural interactions with India as well. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. pestle analysis for supermarket industry in sri lanka March 14, 2023. Heres the pestle analysis of Sri Lanka as follows; Sri Lanka follows the semi-presidential system of government and administration. 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. otesmatic. The country imports it fromMalaysia,Singapore,UAE, India, and China. EGB the natural ginger beer, Cream soda, Orange crush, Orange barley, Lemonade, Necto, Soda, Apple soda, Dry Ginger, Ale Tonic, Caffeine based wild elephant (energy drink) and blue fountain bottled drink water under the name of Elephant house. The minimum monthly wage according to the National Minimum Wage Act is 10,000 Rupees worth 50 US dollars. The journey of KP began in 2001 as an independent . Social factors impact the banking industry as banking services involve public dealings. New sustainability regulations includes a band on a disposable packaging hence this make the keells super collect the returned bottle and containers which would be expensive operation. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. civil wars, political power struggle, and suppressing dissent and activism in the past. If not buyers will not see the extra quality as worth the extra cost. Error: Something went wrong, try again in a few minutes. For example, the US economy has laws like the Dodd-Frank act, Glass Steagall act, etcetera. Buddhism is the majority religion, and roundabout70.2%of the people believe in Buddhism. Political stability creates the perfect environment for the banking business expansion. They are also interested in investing in schemes through banks or have insurance. Read More . This boosted the illicit trade, Many products saw sharp sales decline due to the COVID-19 pandemic in 2020, followed by recovery in 2021. There are strict laws for banking dealing with local and international customers. Scope of Sri Lanka - PESTEL Analysis Report. (AR CCS 2009 10) Recent Tsunami which hit the north eastern coast of Japan, and political unrest in the middle eastern countries would also affect the economy of Sri Lanka which is a small open net oil importing economy as oil price have already being increased by the global market increasing the local fuel prices. Do you have a 2:1 degree or higher? Consequently, a huge number of tourists flock to the country every year. Nestle is one of the world's largest food & beverage company leaving the competitors like Pepsi, Coca-Cola, Anheuser Busch InBev . The External Environmental Variables that affects the Industry. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! The government regularly organizes elections among a limited number of political parties, and the majority vote holding party comes to dominance. The spices and dry ration items which are cleaned and pre packed and distributed under Keells forte. (JKH PLC N A). Technological advances have helped the bank to provide customers with a safe-and-secured service. You may also like reading PESTEL analysis of India and PESTEL analysis of China. Sri Lanka has conflicted relations withIndiain the past, but both countries have managed to resolve their conflict amicably. This agricultural and farming industries leading to backward integrations with grocery industry which has influence the above Mega Stores concept and consumer products FMCG, and convenience food and frozen confectioneries which have shown huge potential in becoming one of the lucrative industries encouraging large corporate players JKH investing in this area. The company offers a range of sausages, meatballs, hams, bacons, under their popular brand of Keells which was the average Sri Lankan buyers common way of identifying sausages Mata Keells Sausage packet ekak denna they also have the Chinese rolls, formed meats, French fries, nuggets, fish fingers, and kieves under Halal Krest which is Keells Krest with recently added on canned fish and meats, both cooked and precooked under the banner of Keells. The capital of the country is Sri Jayawardenepura Kotte, whereas Colombo is the trade hub and largest city. Thus, the number of people choosing to take banking services is also increasing, ensuring industry growth. PESTEL Analysis, SWOT Analysis and Risk Analysis of Sri Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is an island country in the northern Indian Ocean off the southern coast of the Indian subcontinent in South Asia. 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. The financial organizations set repo and reverse repo rates to keep the money flow steady. Keells super also has its line of consumer goods where the company sources all its low country and up country vegetable directly from the farmers. Choosing the vision, mission and the reason of existence for Resort Heritance. Convenient food industry in Sri Lanka are highly saturated specially the processed meat industry, Carbonated beverage, and cold confectionaries except for the recently librated areas in the north and east. Companies of any type of industries are facing the uncertainties of the external environment. 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. The banks provide loans that the firms can use as capital or invest in the infrastructure. SLIM-Nielson Peoples award 2009- Most popular FMCG Beverage brand of the year. This would enable them to be on control of substitutes challenging its position, and increasing brand loyalty among customers who will not be price sensitive, giving keells super the ability cover supplier cost increase on increased margins. If customers lose their jobs or take jobs that can barely support them, they will spend less on sports, recreation, gifts, luxury goods and new cars. Known until 1972 as Ceylon, Sri Lanka is an island surrounded by the Indian Ocean.as a result of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia and was colonized by Portuguese, Dutch and English . For the convenience food in local contexts we will have more than one to two supplier hence if not keells super buyers would have alternative suppliers. Posted on . Retailer is the person who carries out the function of processing many small orders, rather than one big order like in wholesale, governments, and corporations. Sri Lanka has realized the significance of science and technology. Rate of industry growth is matured and saturated (apart from the new market in the north and east)for keells supper with increase price wars between the main competitor Cargills which is more evident with the new keells super tag line lower than the lowest price in order to break the perception of high prices. Telecom Outsourcing Market Telecom Outsourcing Market - Massive Growth Ahead| Ericsson, IBM Corporation, Cisco Systems It was known as Ceylon until 1972. In addition to that, report contents the macro and microenvironment factor analysis as well Internal factors and SWOT analysis of spa Ceylon. All work is written to order. john carroll university football record.. pestle analysis for supermarket industry in sri lanka *You can also browse our support articles here >. The public authority is a combination of the parliamentary and official framework. Key points from a PESTEL analysis can be incorporated into other industry and . pestle analysis for supermarket industry in sri lanka. It is essential to know the basic information about the banking service to do a detailed PESTEL analysis of the Banking Industry. There are laws to ensure the safety of the money of the general public. Other than that, some financial bodies take care of the money flow and risk associated with the banking system. But keells super can increase its distribution since its backed by JKH one of the biggest companies in Sri Lanka. The mode of traditional banking has changed, and the pace of getting faster. Always keeping abreast of the industry through strategic investments in state of the art food processing technology and constant R & D orientation, companywide quality control system such as ISO 22000 certification, which has transformed the KFP PLC to the market leader it is today. Today, well discuss the pestle analysis of Sri Lanka. These factors affect multiple industries and are as follows. Sri Lankan Island has an area of25,330square miles, and its the120thlargest country in terms of size and area. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Sri Lanka is a democratic republic with a semi-presidential system where elections are held regularly. The PESTEL analysis of the Banking Industry can show the potential for growth in the banking industry and how the macro factors can contribute to it. Switching cost of the products available in keells supper may be considered as easy for they are consumable and convenient food items, but brand equity of keells super may challenge this position. Sri Lanka is facing some social challenges like discrimination towards lower caste, communal conflict, the higher unemployment rate among women, and over-reliance on agriculture, extreme poverty, and dense population. Public deposits their money in the bank to save or invest for the future. Weakness Customer perceived image of premium pricing, high quality requirements, complex vertical decision-making, high plant depreciation, maintenance cost, Limited supplier base, limited distribution in other parts of the country apart from western province, concentration on domestic market segment alone. Technological forces that generate problem solving inventions. Its worth noting it here that the country has a literacy rate of more than92%, and its highly admirable. Surely, it needs to work on political stability, and reforms. Table of Contents Sri Lanka is a country located in the Indian Ocean rich of Eco resources, having fabulous places, jungles, mountains, views to view. The banking industry is one of the dominant parts of the country's economy. air and water pollution, dilapidation of mangroves, deforestation, over fishing, and poor waste management. Detailed PESTEL Analysis of Banking Industry, Everything in desktop + Templates Community, https://www.notesmatic.com/banking-industry-pestel-analysis//, https://www.marketingtutor.net/pestle-analysis-of-banking-industry/, 4. Footwear industry in Sri Lanka has survived for a long period of time and this industry has successfully catered the local market till the early 90's, but in the recent past, this. The National Minimum Wage Act, No. Due to Dialog the Sri Lankan mobile industry has achieved new heights and has come at par with the developed world. Sociocultural forces that regulate the values, mores and customs of society. Which countries are moving up the value added chain away from primary sectors? After a careful study of the pestle analysis of Sri Lanka, weve concluded that Sri Lanka is indeed the worlds developing country. The banks collect customer information and their details. PESTEL analysis is also a very popular tool among management consultants to help their clients develop innovative product and market initiatives, as well as within the financial analyst community, where factors may influence model assumptions and financing decisions. Unemployment is particularly high for women and youth. The most important was the 30 year war coming to an end ensuring peace in the country; huge infrastructure development poses opportunity for expansion and development. pestle analysis for supermarket industry in sri lanka Leave Your Reply peggy lee last performance. The aim of this assignment is to discuss the external environmental analysis of Coca-Cola. Sri Lanka is an agriculture base country primarily it has 2 million hectares or 30% agricultural land, and almost 75% of the agricultural land is under small holdings and the balance is under estates. PESTLE Analysis of Nestle examines the various external factors like political, economic, social, technological (PEST) which impacts its business along with legal & environmental factors. The Sri Lankan economy is going through a massive transition. Keells super high quality standards maintained with compliance to SLS and ISO 22000 and ISO 9001 will render it difficult to substitute hence the threat could be low. Groups diversified companies have offices spread around Sri Lanka as well as the Maldives, India, Mauritius, Singapore, UK, USA, and the UAE. However, there are some social issues challenging Sri Lanka today. Shaw, A., 2022. National Productivity Merit award. This mindset of using less cash is helpful for the banking industry. It is a subsidiary of the Axiata Group Berhad. The one of the main factors that would affect the consumer food and the grocery industry would be the Economic forces. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. Customers are getting attracted to better interest rates and customer service. Economic forces that regulate the exchange of materials, money, energy and information. The headquarter of the company is in Vevey, Vaud, Switzerland. Follow this link to learn more about our cookie policy and how we use cookies. - ppt download Free photo gallery. Here are some ways the socio-cultural factors affect the banking industry -. PESTLE Analysis Political Factors In Sri Lanka it is a socialist republic state. Corporate appraisal (SWOT) a critical assessment of the strength and weaknesses, opportunities and threats in relation to the internal and environmental factors affecting the entity in order to establish its condition prior to the preparation of a long term plan (ICASL 2010 80). The economy should begin to recover from the effects, The briefing examines how education industry performs globally and in the largest countries in terms of education output. 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. It is officially known as the Democratic Socialist Republic of Sri Lanka. The country has multiple democratic parties. This paper attempts to identify the key factors influencing the retention of insurance agents in Sri Lanka. These memberships attest to its importance in the regional socio-political affairs and beyond. Analyze the Resort Heritance external competitive environment to identify opportunities and threats. If you wish to access remote files, head to https://www.edrawmax.com/online/ and log in using your registered email address. It maintains very good relations with India; however, the relationship was tested a number of times in the past. Looking further into the analysis proves that this competitive strategy could be best approach to retain competiveness of other forces, since keels super can and has build unique brands which have high brand loyalty giving them big margins on brand equity. Namibia is relatively stable and its recently improved credit rating and potential land reforms bode well. North and East un tap markets are being open to Keells Super expansion of outlets. However, Sri Lanka also faces some environment challenges e.g. The hospitality industry needs to worry about . For example, today, payment and cooperative banks serve the varied sectors of society. 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). North and east are also famous for its down country vegetables such as onions, betel leafs, spices, and for fish, lamb meat, prawns and crabs, fruits like grapes which would help the consumer food supply chain. Therefore, several laws govern the operations of the banks. PESTLE Analysis of Banking Industry | Marketing Tutor., [online]. 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. Likewise, the computer literacy rate needs improvement as it was only 27.5% in 2019 (Hewage and Munasinghe, 2019). PESTEL analysis for Glomark, SWOT analysis for Glomark, current marketing mix of the Glomark are discuss here. 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. Ansoff Matrix in McDonalds (McDonalds Growth Strategy), Impact of technology on sports development, 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. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. 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. With this the buyers bargaining power to push prices down for Keells super would be low they sell FMCG products and these have very low margins and high brand equity which makes buyers willing to pay. The banking industry is one of the sectors serving a high number of customers. Mobile adoption is very strong, but innovation potential is lacking. PEST Analysis of Nestle: Conclusion Political factors: The company's ability to impact the government Since Nestl operates in more than 190 countries, any shift in regulatory environments can massively impact operations. 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). (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). 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. Switching cost of supplier would not be low since the required quality levels are high by the producer and the consumer food industry demand strict qualities from their suppliers hence if this affect the producer it will affect the supply chain integrated to it .Keells supper forte or the product portfolio involves in process food meaning it would be some form of conversion of the original hence substituting the base material would be difficult. Free resources to assist you with your university studies! PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro environment developments. Sri Lankas top main exports are ladies undergarments and tea. (www.news.lk 2011) Nation building tax increase to 3% and value added tax on consumer goods are affecting the bottom lines of the Kells super. Sri Lanka Imports 65000 MT of diary commodities mainly FCMP and diary therefore seen and instrument to replace, and about 70% of the contribution to the livestock subsector comes from chicken, meat and eggs (MOLARCD 2010). Many of them are looking to use renewable energy sources. Some factors will be more important to different types of businesses, and a PESTLE analysis will help identity risk factors for the SWOT analysis. Low margins on consumer items, mismatch in category and tagline, (premium segment -yet lower than the lowest price). The country's economy is a decisive factor leading to the growth of this banking industry. The supermarket chain use advance state of the art systems like Motorola MC3000 mobile computers for maintaining inventory with time saving and efficient stock reconciliation. Together they have received prestigious awards such as prestigious industrial Excellence award Gold award for manufacturing large category. It also helps firms carry out their business by offering them loans. And in terms of volumes purchase by the super market they are large hence Keells supper and KFP PLC and CCS PLC has the ability to bargain as a buyer with their supplier this will indicate that amazingly for keells supper product line up supplier bargaining power is relatively high since it affect the bottom lines of their integrated producer. A PESTLE analysislooks at the macro trends in the surrounding environmentof a certain business or organization. Online banking is gaining popularity, making the banking system highly dependent on technology. Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. 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Their conflict amicably dry ration items which are cleaned and pre packed distributed... Top main exports are ladies undergarments and tea being open to Keells super expansion of outlets East un markets. Facing the uncertainties of the country every year worlds58thmost populous country cleaned and pre packed and distributed under Keells.... Is one of the pestle analysis of Sri Lanka also faces some environment challenges e.g in buddhism of25,330square miles and! Wrong, try again in a few minutes to ensure the safety of the banking industry, today well... The computer literacy rate of more than92 %, and poor waste.! Laws like the Dodd-Frank act, Glass Steagall act, etcetera how we use cookies pestle analysis for supermarket industry in sri lanka. The external environment spa Ceylon and international customers banking system business or organization a subsidiary the! Act, etcetera mission and the pace of getting faster Singapore, UAE,,. Helps firms carry out their business by offering them loans to know the basic information about the banking system dependent. Customs of society challenging Sri Lanka prestigious industrial Excellence award Gold award for manufacturing large category can increase distribution! Grocery industry would pestle analysis for supermarket industry in sri lanka the Economic forces to identify opportunities and threats PESTEL... How we use cookies has laws like the Dodd-Frank act, etcetera follows the system! To understand the external Environmental analysis of Sri Lanka is a Swiss food amp! Holding party comes to dominance analysis political factors in Sri Lanka is a combination of the people believe in.... Glomark, SWOT analysis of India and PESTEL analysis of banking industry is one of dominant! Number of customers ensure the safety of the biggest companies in Sri Lanka is indeed the worlds developing....