Pest analysis that influences the grocery market in the uk Essay

Pest analysis that influences the marketplace market in the uk - Essay ExampleBy use of PEST model, the analysis result expound on the following macro factors political, sparingal, social and technological factors prevailing in the market.UKs grocery market has been authoritatively impacted by the judicature regulations. As a pertinent congruent of the UKs economy, the government has instituted regulatory policy framework aimed at monitoring the sector. The regulatory framework provides the guidelines for a incalculable key of keys issues including business registration, health and hygiene standards. Through the integration of EU provisions by the Food Standard Agency (FSA), UKs grocery assiduity is takings to food hygiene standards, business set up, food safety and marketing guidelines. The government has further revised the competition law in conformism with the provisions of European Commissions white paper dated 2014. Under article 101 of EUs treaty on the surgical oper ation of the European Union, grocery enterprise are banned from engaging in agreements that could either lead to prevention or restriction of competition in the subject market (IGD, 2015). The Scottish independence referendum was also a key factor in UKs grocery market in 2014. With the prospective of a positive vote for the independence of Scotland, grocery stores were bound to experience increased overhead cost that would have eventually been passed to Scottish consumers.The positive outlook of the UKs grocery market has been underlined with the intensified competition in the industry. UKs economy continues to recover from 2013 with the real GDP growth projections for 2015 and 2016 standing at 2.5 % and 2.3 % respectively (PWC, (2015). Consequently, UKs economic growth has given rise to disposable income of UK consumers thereby leading to heightened consumer purchasing power. The leading grocery stores in the UK have further globalized their operations to fortify their fiscal reso urces through