GAP of Singapore, Gillette might want to expand the shaving and personal care products in Singapore. And also in Singapore there is no competition from domestic companies as the entire GAP of Singapore is based on imports from other countries.
- Singapore are very competitive in nature. Singapore have a mindset of "Aka- us" which means afraid of losing out to others. Due to which Singapore work very hard for fulfilling their materialistic desires.
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Due to which business companies like Gillette can expect a higher purchasing power from the buyers.
- The ruling party of Singapore is PAP (People's Action Party). Due to the political stability of the PAP party for the last decade, international investors are more comfortable to invest money in Singapore. Due to these reasons businesses like that of Gillette can expand themselves into the market as they do not have the fear of changing policies of the governments.
- The income levels in Singapore are Singapore $5040 as of November 2014. Due to this Gillette will not face any problems in their sales.
As even low income people of Singapore can also buy Gillette products. So basically Gillette can increase their amount of stock of their products as it is a necessity for both men and women.
- Singapore is a multi religious and multi cultural country. Singapore has an ethnic mix of 75. 2% Chinese, 13. 6% Malay and 8. 8% Indian.
- Most of the Singapore dislike blue collar Jobs due to which Singapore have to import foreign workers to do blue collar Jobs With cheaper labor from neighboring countries, Business companies like Gillette can enjoy cost saving and therefore more can be invested for further expansion.
- Singapore always welcomes foreign investors to invest all types of sectors of business. So this is a great opportunity for Gillette to increase the sales of razor blades and various other shaving products. Also Gillette also have the opportunity of investing in other sectors if they wish to.
- The corporate tax rate in Singapore as in 2014 is 17%. Singapore has one of the lowest corporate tax rates in the world and business friendly environment which will be helpful for Gillette to start up direct selling using vending machines.
And also cause of low corporate tax rates there are chances of foreign competitors of Gillette to also enter in this market.
- Singapore has very high literacy rates(Primary Education 96% and Higher qualification holders 89%). This high literacy rates are due to compulsory primary education for all children and also English is the primary language in the Singapore Education system due to which Singapore have a good command on English. This factor helps attract international organizations like that of Gillette in Singapore.
on PESTLE Analysis of Singapore for Gillette
I have added a PESTLE analysis of Singapore. PESTLE is a business tool used to study the macro-environmental factors. It is an acronym for political, economic, social, technological, legal and environmental factors. Let’s see how each of these factors impacts the country.
PESTLE is a business tool used to study the macro-environmental factors. It is an acronym for political, economic, social, technological, legal and environmental factors. Let’s see how each of these factors impacts the country.
It is an acronym for political, economic, social, technological, legal and environmental factors. Let’s see how each of these factors impacts the country. The political risk in Singapore is quite low. In fact, the Political And Economic Risk Consultancy (PERC) states that the country enjoys the lowest political risk in the continent.
However, it is worth mentioning that as Singapore is a low-lying island state, it is very vulnerable to sea level rise and coastal erosion. Likewise, industrial pollution, and limited resources for freshwater are two big environmental challenges facing the country.
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