Question

what is a key trend for each letter of PESTEL and one industry or firm that would be affected by that trend ?

Answer 1

PESTEL A​​​​​​nalysis -

It is kind of tool used by the marketers to check and analysis the macro environmental factors that will effect the organization.

P - political

E- economic

S -social

T - technological

E - environmental

L - legal

​​​​​It's effect on Retail industry :

• POLITICAL - as the working of the retail stores are on government policies as these effect the consumer buying habits and International trade laws , covering from complying with health guidelines to the capacity of stores even the online stores are also regulated as there had been anti trust cases along with data breaches
• ECONOMIC - Even in this time if recession the retail industry has been able to stand up by 2020, the global sales from retail outlets are nearing to $30 trillion.
• SOCIAL - the buying trend of customer along with shift in customer behaviour tend to effect the profits, which can be analysed by collecting the data or have track record of what people are buying
• TECHNOLOGICAL - to manage storehouse or money after sales , bringing effeciency in these aspects the retail stores are adopting new softwares and hardwares to make work better
• ENVIRONMENTAL - Blockchain Technology , is one which is helpful for environmental aspect as in this farmers will be able to give information about the product in real time so farmers themselves can tell if the farm products are safe or have got contaminated over the time
• LEGAL - for these can be tax laws, labor laws, and once opening overseas than the laws of that nation also applies. On account of not following them can lead to legal troubles and also things like bankruptcy and foreclosure.

Sir/Mam kindly please rate the answer and do feel free to ask in case of any doubt