Question

Discuss the social factors that influence the retail industry in Brazil such as culture, religion, technology and government regulations

Answer 1

There are many factors that affect the business structure in any country. It is not only the political and economic factors that affect but also the social factors that influence. Morevoer, retail industry itself comprises of the direct consumers and consumers are the people who make the social structure of any country. Following are the social factors that influence the retail industry...

Culture
People make the culture in any country. culture plays an imprtant role in the business too. The type of culture a country follows has an impact on the goods and products bought in a country. In Brazil too it is the same situation.

Religion
Brazil is a strict follower of Christianity influenced by the Roman Catholics. Therefore, their way of lifestyle is all dependant upon the religion they follow. Thus the products that come into the retail market definitely will be related to that particular religion.

Technology
Technology is the major thing that influences any type of market or industry these days. Brazil has a very fast growing technology. therefore, the retail industry too is influenced by it. The things in the industry are getting faster due to technological development.

Government regulations
The market or the business in any country is solely dependant on the government of that particular country. The rules and regulations are decided by the current government and these rules definitely has an influence on the retail industry too. The government should of course make these rules keeping in mind peoples interests and need. But it is not necessary always it happens so, the rules may be influenced by external factors too which may be unavoidable. So these government rules are a major factor that influences the peoples mind and the things they buy. Thus, the retail industry is affected by the govenment rules too.