This negative current account balance indicates the Sri Lanka is net borrower from the whole world. With the identification of above criteria, company decided to enter for the modern trade industry of Sri Lanka with retail supermarket chain. M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. Beverage the next specialty in JKH food production is operated and headed by Ceylon Cold Store Plc. Bar-coding, loyalty cards to retain customer loyalty. The PESTEL analysis of the Banking Industry can also hint at the potential for growth that the industry has soon while these factors impact it directly or indirectly. Instead of keeping money at home, many people are choosing banking services to save it. Pestle analysis of Sri Lanka. D. Chaired Professor of Management Science INSEAD (Singapore & Fontainebleau France) www . Major political instability and distressed government finances have blighted Sri Lanka, which is mostly unfree for economic freedom. 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. Our Aldi PESTLE Analysis helps you identify the external factors that impact the operations of Aldi, one of the top 3 grocery stores in the US. In EdrawMaxs Pestle Analysis of the banking industry we will find out how political, social, economic, technological & legal factors affect the banking sector. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. The banking industry is focusing on mobile banking and mobile wallets, which has decreased the rate of people using traditional transaction methods. 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). Specifically a PESTLE analysis is a useful tool for understanding risks associated with market (the need for a product or service) growth or decline, and as such the position, potential and direction for an individual business or organisation. The country exports it toItaly,Germany, India,UK, and theUSA. The 2013 Import and Export Market for Tea in Sri Lanka By Professor Philip M. Parker Ph. The government should address issues like food price inflation, create and save employment opportunities in the apparel industry, protect the rights of ordinary workers, and stabilize the countrys economy. There are laws to ensure the safety of the money of the general public. The government, therefore, has strict regulations to control the bank business. It has very close cultural interactions with India as well. Our academic experts are ready and waiting to assist with any writing project you may have. The use of solar ATMs with rechargeable lithium-polymer batteries is increasing rapidly. Looking at the Porters approach to industry analysis it is clear that Keells Super competiveness in the industry is considerably high since three out of five f forces for being competitive are in favor of the company, being a Entry barrier, ability to face the substitute challenges, and having supplier bargaining power on a manageable levels increase the competiveness of the supermarket chain, further the rivalry among competitors being moderate, with suppliers bargaining power needs to be address as issues for competiveness of the firm. The banks provide loans that the firms can use as capital or invest in the infrastructure. This mindset of using less cash is helpful for the banking industry. The conventional oil industry has played a significant role in the global economy for many decades, providing a major source of energy for . The current population of Sri Lanka is just over 21 million (Worldometer, 2021). There are strict laws for banking dealing with local and international customers. PESTEL analysis for Glomark, SWOT analysis for Glomark, current marketing mix of the Glomark are discuss here. The one of the main factors that would affect the consumer food and the grocery industry would be the Economic forces. They have installed ATMs and opted for mobile banking services so that the customers do not have to arrive at the branch for small transactions. Here are some ways the socio-cultural factors affect the banking industry -. Sri Lanka has realized the significance of science and technology. The telecom company operates 2G, 3G and 3.5G mobile services, supporting the current trends in . Millennials and students prefer to carry their debit and credit cards. 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. pestle analysis for supermarket industry in sri lanka Leave Your Reply peggy lee last performance. Threats the global catastrophe affecting the north eastern coast of Japan and the political unrest effecting the Middle Eastern countries will affect the global economy at large. 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. Error: Something went wrong, try again in a few minutes. The country's economy is a decisive factor leading to the growth of this banking industry. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Pratap, A., 2022., [online]. Sri Lanka has a mixed legal and judiciary system. Other than that, some financial bodies take care of the money flow and risk associated with the banking system. (LBO 2005). However, there are some challenges facing the Sri Lankan economy. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. . According to an estimate, the annual nominal GDP of Sri Lanka in 2020 was81.120billion dollars, and its66thworlds highest. john carroll university football record.. pestle analysis for supermarket industry in sri lanka 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. Likewise, the literacy rate (over 92%) is very high as well. With the rise in population and literacy rate, many people understood the importance of having financial education. The country is drawing a lot of foreign investments every year. 2023 Euromonitor is privately owned & trademarked. 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. Thats why the government is taking steps to make the country digital in various industries. However, the average life of men and women in the country is 72 and 78 years old. The global assets the banking industry is dealing with are trillion dollars. PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. Strategy. Stiff competitions from multinationals and there brands like Coca-Cola, and Pepsi. The emergence of supermarkets, urbanization, income increase, high quality retail export markets, high quality bulk procurement, trade agreements, with other countries, increased migration of Sri Lankan citizens and increased female participation in labor force have created a new demand pattern, shifting the focus towards continuous supply of high quality, value added products with improved processing, packaging and labeling (Samarthuga A 2006 15). The banks are using tools like the internet and SMS to keep the customers aware of the transactions. 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. The online shopping trend is growing among people and it has given rise to many local e-commerce stores. As banks act as loan providers and depositors, the rise and fall in the economy directly impact the banking industry. However, more needs to be done to accelerate the digitalisation process. Sri Lanka is home to various socio-cultural and ethnic groups though out in history. The use of credit cards and debit cards is increasing in place of paper currency notes. Hence, the number of people opting for banking services is gradually growing. In place of traditional banking, internet banking and mobile wallets are gaining high popularity. Should we compete on the basis of lower cost (and thus price), or should we differentiate our products or services on some basis other than cost, such as quality or service? If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. Through the PESTEL analysis, several key drivers of change that influence the IT industry in Sri Lanka can be derived. It will open up the user-friendly canvas of EdrawMax that has several features that ease your efforts in making PESTEL analysis diagrams. 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. Today, well discuss the pestle analysis of Sri Lanka. 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. DOWNLOAD THE FREE GUIDE We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.io. The Total Pestle Analysis of Sri Lanka. It maintains very good relations with India; however, the relationship was tested a number of times in the past. 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. They are also interested in investing in schemes through banks or have insurance. 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. Certainly, rapid human development is having its toll on the environment. Pizza Market Analysis. Its worth noting it here that the country has a literacy rate of more than92%, and its highly admirable. Political stability creates the perfect environment for the banking business expansion. 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. The government and financial bodies under government supervision make laws to make the banking system less risky. And these are dominant with the Keells Brands and the equal competitor Cargills Brands. 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. If not, select "Manage Preferences" to learn more about managing your cookie preferences. Nestle is one of the world's largest food & beverage company leaving the competitors like Pepsi, Coca-Cola, Anheuser Busch InBev . 2. SLS complaisance and ISO 22000 and ISO 9001 will increase sales in the new regions in the North and East. PESTEL analysis of the Banking Industry discusses how the political, economic, social, technological, environmental, and legal factors contribute to the banking business. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). Porter stated that five forces are deciding an industry either beneficial at future or it will become a case study and commerce practice (Porter, M.E., 2008). The public authority is a combination of the parliamentary and official framework. However, the country has also developed very relations with regional countries likeChinaandPakistan. pestle analysis for supermarket industry in sri lanka. Access and download reports and data purchased through Euromonitor.com. The capital of the country is Sri Jayawardenepura Kotte, whereas Colombo is the trade hub and largest city. Companies of any type of industries are facing the uncertainties of the external environment. PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro environment developments. The banks should also concentrate on providing top-level customer service. Study for free with our range of university lectures! The laws see that NPA does not have an enormous effect on the banking industry. 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. The headquarter of the company is in Vevey, Vaud, Switzerland. Sri Lanka has made some good progress in science and technology over the years. Pizza Hut Marketing PLan - BSB 126 MARKETING PLAN NAME: Matthew Fagg STUDENT NUMBER: N9447334 TOTAL - Studocu . These factors affect multiple industries and are as follows. They all promote the countrystourism industry. If you purchase a report that isupdated in the next 60 days, we will send you thenew edition and data extraction Free! All work is written to order. Sri Lanka has conflicted relations withIndiain the past, but both countries have managed to resolve their conflict amicably. 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%). The people and their buying habits and preferences influence the banking industry. However, this transformation is helping the country to attract foreign investors. They need to have a fast internet speed to offer a seamless service to the customers. Head to the Template section on the left and type 'PESTEL Analysis' to see all the pre-built PESTEL Analysis templates like Netflix PESTEL Analysis, Amazon PESTEL Analysis, IKEA PESTEL Analysis, and more. 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However, Sri Lanka also faces some environment challenges e.g. Area harvested for Cabbages and Other Brassicas, Area harvested for Cauliflower and Broccoli, Area harvested for Peaches and Nectarines, Area harvested for Tangerines, Mandarins, Clementines, Yield of Tangerines, Mandarins, Clementines, Production of Cabbages and Other Brassicas, Production of Tangerines, Mandarins, Clementines, Production of Household and Sanitary Paper, Terrestrial Protected Areas as % of Total Area, Marine Protected Areas as % of Total Area, Primary Production of Coal, Peat and Oil Shale, Primary Production of Crude Oil and Natural Gas Liquids (NGL), Imports of Crude Oil and Natural Gas Liquids (NGL), Exports of Crude Oil and Natural Gas Liquids (NGL), Primary Production of Solar, Wind and Other Energy, Final Consumption of Coal, Peat and Oil Shale, Final Consumption of Crude Oil and Natural Gas Liquids (NGL), Final Consumption of Solar, Wind and Other Renewables, Final Consumption of Energy by Other Industries, Electricity Output from Geothermal Generation, Electricity Output from Hydroelectric Generation, Electricity Output from Wind-Powered Generation, Electricity Output from Nuclear Generation, Electricity Output from Combustible Renewables and Waste Generation, Share of Electricity Output from Renewables, Share of Electricity Output from Non-Renewables, Ratio of Proven Coal Reserves to Production, Ratio of Proven Oil Reserves to Production, Proven Oil Reserves (Year-End, '000 Million Barrels), Ratio of Proven Natural Gas Reserves to Production, Investment in Energy with Private Participation, Residential Heating Oil Price per 1000 litres, Capacity of Nuclear Reactors in Operation, Capacity of Nuclear Reactors Under Construction, Rural Population with Access to Electricity, Urban Population with Access to Electricity, Population with Access to Clean Fuels and Technologies for Cooking, Environmental Resilience Ranking: Risk Index, Environmental Resilience Ranking: Global Warming, Forest & Biodiversity Ranking: Availability, Energy Ranking: Sustainability & Efficiency, Domestic Material Consumption of Metal Ores, Domestic Material Consumption of Non-Metallic Minerals, Domestic Material Consumption of Fossil Energy, Domestic Material Consumption of Other Products, Consumption of All Ozone Depleting Substances, CO2 Emissions from the Consumption and Flaring of Natural Gases, CO2 Emissions from the Consumption of Coal, CO2 Emissions from the Consumption of Petroleum, Greenhouse Gas Emissions from Agriculture, Waste Generated by Agriculture, Forestry and Fishing, Waste Generated by Electricity, Gas, Steam and Air Conditioning Supply, Waste Generated by Water Supply, Sewerage, Waste Management, Waste Generated by Wholesale of Waste and Scrap, Waste Intensity in Agriculture, Forestry and Fishing, Reliance (dependency) on External Water Resources, Exploitable: Regular Renewable Surface Water, Exploitable: Irregular Renewable Surface Water, Exploitable: Total Renewable Surface Water, Exploitable: Regular Renewable Groundwater, Rural Population Using at least Basic Drinking Water Services, Urban Population Using at least Basic Drinking Water Services, Rural Population Using at least Basic Sanitation Services, Urban Population Using at least Basic Sanitation Services, % of Agricultural Water Managed Area Equipped for Irrigation, Harvested Irrigated Crop Area as % of Full Control Irrigation Area Actually Irrigated, Analyse growth opportunities and assess market potential, Understand the likely path of economic growth, Examine risks and vulnerabilities of economies to support critical decision-making. Keells Supper is retailer the supply chain which links their unique range of product with powerful brand equity to the consumer making the JKH consumer foods & retail industry a power house. Customers are getting attracted to better interest rates and customer service. The journey of KP began in 2001 as an independent . 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. Hence Cost leader ship, and differentiation competitive strategy appears to be suited better, looking further at the SWOT Keells Super has a considerable threat for having and maintain a cost leader ship with supplier high bargaining power, commodity and raw material price increase, sustainability investment cost, and imitations coming into the market, having economies of scale is not so promising with rising energy prices, indicates best competitive strategy for keells Super would be Differentiation. Looking for a flexible role? In analyzing the macro-environment, it is important to identify the factors that might in turn affect a number of vital variables that are likely to influence the organizationssupply and demandlevels and its costs (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993). A subsidiary of JKH, KFP PLC started its operations in 1983 and is responsible for the development of processed meat industry of the country. . Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). The Conventional Oil Market size was valued at USD 2687.32 Billion in 2022 and the total Conventional Oil revenue is expected to grow at a CAGR of 3.8% from 2023 to 2029, reaching nearly USD 3493.71 Billion. Which countries are moving up the value added chain away from primary sectors? Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. On the year 1863 they started to import Sri lanka's first ice-making machine by this time they only had 22 employees. The Sri Lankan economy is going through a massive transition. The lifestyle of people is changing rapidly. Surely, it needs to work on political stability, and reforms. (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). PESTEL Analysis diagram requires you to add Political, Economic, Sociological, Technological, Legal, and Environmental content so that the reader will understand what influences an organization. Do you have a 2:1 degree or higher? 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. When we ask consumers what they would do if the brand they are looking for is not available 65 percent said they will go to another shop says Dwight Watson, Ac Nielsen. Also the PESTLE analysis helps the company to achieve its objectives by identifying the trends and factors which are affecting Coca-Cola operations on International Scale. According to an estimate, the computer literacy of Sri Lanka is roundabout30.1%, and its very low. If this is your first time using the tool, you can register with your personal or professional email address. Imitations threats, Parity differences are affecting the raw materials imported to the company. (Wheelen Hunger 2010). (KS 2010), (Figure 02) (JKH Sustainability Report 2009, 2010). The banking sector and economy are tied to each other intricately. Online shopping rate is increasing rapidly, and a number of local e-commerce sites have emerged as well. Over the years, the banking industry has reached magnificent customers and created millions of jobs. Being competitive and looking at the best competitive strategy by looking at the SWOT analysis it is evident that opportunity are opening up for Keells Super for expansion and increase of market share indicating best approach would be aim at a broader target a mass market strategy best suits as opposed to a focus. 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. 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. 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, Volume sales of cigarettes increased in 2021 after two years of strong declines due to tax increases and the COVID-19 pandemic. Sorry, preview is currently unavailable. Exit barriers are not high in the grocery industry as any retailer could easily sell of its business to another operator. Jkh food production is operated and headed by Ceylon Cold Store Plc writes extensively online offline. Decreased the rate of more than92 %, and theUSA register with your personal or professional address... Make laws to make the banking industry that ease your efforts in making pestel analysis, several drivers... 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