Pest analysis that influences the grocery market in the uk Essay

Pest analysis that influences the grocery market in the uk - Essay ExampleBy use of PEST model, the analysis will expound on the pastime macro factors political, economical, social and technological factors prevailing in the market.UKs grocery market has been positively squeeze by the government regulations. As a pertinent congruent of the UKs economy, the government has instituted regulatory polity framework aimed at monitoring the sector. The regulatory framework provides the guidelines for a myriad key of keys issues including business registration, wellness and hygiene standards. Through the integration of EU provisions by the Food Standard Agency (FSA), UKs grocery industry is subject to food hygiene standards, business set up, food safety and merchandise guidelines. The government has further revised the disceptation law in accordance with the provisions of European centerings white paper dated 2014. Under article 101 of EUs pact on the functioning of the European Union, grocery enterprise are banned from engaging in agreements that could both 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 future of a positive vote for the independence of Scotland, grocery stores were bound to experience increased overhead damage 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 % independently (PWC, (2015). Consequently, UKs economic growth has given rise to disposable income of UK consumers thereby leading(a) to heightened consumer purchasing power. The leading grocery stores in the UK have further globalized their operations to fortify their financial resources through