Pestel Analysis of Department Store in Thailand
Political
The long-term political consequences of the crisis are as yet unclear. The crisis, and the siege of Suvarnabhumi Airport, saw a rise in international press coverage on Thailand, with numerous high-profile articles breaking Thai taboos about public discussion of the role of the monarchy in the crisis as well as the succession. Thailand political situation is described uncertain. The crisis escalated and increasingly affected the economy. ZEN Department Store can lose some revenue due to the tourist segment that scare to travel to Thailand. Also this incident might draw lot of investors out from Thailand too.
Economic
Refer to World Bank, its forecast for Thailand’s 2008 GDP growth to 5% from the previous 4.6%, citing the expected recovery in domestic demand and the Thai Government’s short-term economic stimulus measures as the main factors. However, the Bank also warns that there are significant risks that this growth might not be achieved, particularly because of the uncertain global environment and the rise in food as well as energy prices. This would result in a loss in ZEN Department Store revenue (indirect impact) because during this time people might choose the benefit competitor that can serve them with lower price.
Social
People lifestyles tend to have more social activities within the Department Store. It becomes a place to hang out to meet with friend. The Department Store can be a good indicator of social status because they will choose the Department Store that match their taste and monetary. Therefore, ZEN Department Store should have clear positioning and provide suitable facilities, which can fulfill the target’s needs.
Technology
Information Technology (IT) becomes important in the Department Store industry. With IT the Department Store can store the customers’ data and millions of transactions into their database in order to automate their operation. Next step is to be able to analyze the customer data to launch the right strategy
The long-term political consequences of the crisis are as yet unclear. The crisis, and the siege of Suvarnabhumi Airport, saw a rise in international press coverage on Thailand, with numerous high-profile articles breaking Thai taboos about public discussion of the role of the monarchy in the crisis as well as the succession. Thailand political situation is described uncertain. The crisis escalated and increasingly affected the economy. ZEN Department Store can lose some revenue due to the tourist segment that scare to travel to Thailand. Also this incident might draw lot of investors out from Thailand too.
Economic
Refer to World Bank, its forecast for Thailand’s 2008 GDP growth to 5% from the previous 4.6%, citing the expected recovery in domestic demand and the Thai Government’s short-term economic stimulus measures as the main factors. However, the Bank also warns that there are significant risks that this growth might not be achieved, particularly because of the uncertain global environment and the rise in food as well as energy prices. This would result in a loss in ZEN Department Store revenue (indirect impact) because during this time people might choose the benefit competitor that can serve them with lower price.
Social
People lifestyles tend to have more social activities within the Department Store. It becomes a place to hang out to meet with friend. The Department Store can be a good indicator of social status because they will choose the Department Store that match their taste and monetary. Therefore, ZEN Department Store should have clear positioning and provide suitable facilities, which can fulfill the target’s needs.
Technology
Information Technology (IT) becomes important in the Department Store industry. With IT the Department Store can store the customers’ data and millions of transactions into their database in order to automate their operation. Next step is to be able to analyze the customer data to launch the right strategy