The research also indicates that aboutfast food businesses operate in the United States.
Unlike the micro environment of a retail store, companies in the retail industry usually cannot influence or change the macro environment and must adapt to changes as they arise. The macro environment includes economic, technological, societal and governmental influences.
A retailer must understand the role of each to compete within the retail industry.
The Role of Technology in the Macro Environment Technology not only creates new products for retail companies to sell, but also plays a major role in changing the way retail companies do business.
Technological advancements such as the internet offer retail customers additional shopping options. Technology also opens new retail markets, with auction platforms like eBay and web-based retailers such as Amazon.
Barcoding and computerized billing systems have improved the retail industry by allowing retailers to develop new processes that increase efficiency.
Point-of-sale systems increase sales by allowing retailers to process cash, check, credit- and debit-card payments. The Role of Government Laws, regulations and other government policies can have a number of positive or negative effects on the retail industry.
Government assistance, such as government-backed loans and subsidies, can help fledgling retailers grow or allow an established company to keep costs low for consumers. However, government policies can also hinder businesses by imposing regulations that increase costs, such as requiring the development and integration of new systems or procedures or establishing a minimum wage that small retailers may not be able to afford.
The retail industry also relies heavily on government-supported road and transportation infrastructure to move goods and bring customers to retail locations.
The Role of Economic Factors Retail sales are driven by the economic environment. A robust economy correlates to an increase in consumers' disposable income, increasing sales and allowing retailers to sell more valuable goods, such as high-end electronics. On the other hand, a sluggish economy decreases consumer confidence and can cause people to spend less, leading to declining sales and forcing retailers to lower prices.
Economic and governmental factors often overlap in areas such as corporate taxation, import and export laws, and inflation, which can decrease consumer purchasing power. The Role of Social Factors Changes in social values and trends impact the goods retailers sell and how retailers relate to consumers.
The retail industry is often under pressure to develop and implement socially responsible business practices, such as selling environmentally-friendly products, placing warnings or restrictions on potentially harmful goods, and removing recalled or controversial products from the shelves.
Again, government and social factors overlap in many areas including employment discrimination and, in some states, the recognition of same-sex partners as legally entitled to employer-provided benefits.
Retailers that fail to conform to new social norms often lose business to companies that are willing to adapt to changing societal values. Treadwell provides content to a number of prominent organizations, including Wise Bread, FindLaw and Discover Financial. As a high school student, she offered financial literacy lessons to fellow students.Jun 29, · All retail companies operate within a “macro environment,” or the sphere of influence outside the company that shapes how companies do business.
PESTLE analysis of the Australian Fast Food Industry. Unlike in evaluating the internal environment, organizations desirous of performing detailed analysis of the macro-environment apply the PESTLE analysis approach.
The criterion denotes an acronym of macro-environment elements that influence the industry both directly and indirectly.
Impact of External Environment on the Islamabad, Pakistan The Purpose of this study is to analyze the impact of Political, Economic, Social and Technological macro environmental forces on Pizza fast food industry in Rawalpindi / Islamabad and Pizza food industry, PEST analysis, Pakistan.
Exploring fast food consumption behaviours and social influence A study of the current macronutrient profile of fast food in Australia __ 34 Methods _____ 35 The influence of micro‐environmental pressures on fast food consumption _____ Social influences and fast food consumption _____ PESTLE analysis of the Australian Fast Food Industry Unlike in evaluating the internal environment, organizations desirous of performing detailed analysis of the macro-environment apply the PESTLE analysis approach.
Australia Macro Environment Analysis Fast Food. location-specific green building practices that might be ideal in one climate or setting but not in another. Macro-Environment Analysis An enterprise successful outcome does not only rely on the effective managing methods of the organization.
There are a lot of factors involved on how businesses behave on market.