24 Feb Growing opportunities for Thai companies in Myanmar

Written by Mizzima Published in Economy Read 1916 times
Yangon residents shopping at a supermarket in Myanmar's commercial capital. Photo: Hein Htet/Mizzima
Yangon residents shopping at a supermarket in Myanmar's commercial capital. Photo: Hein Htet/Mizzima

Convenience and modernisation are major factors for Thai companies keen to attract Myanmar consumers, according to the Bangkok Post on February 24.

These are the findings of a survey by the market research and consulting firm Envirosell Thailand.

Managing Director Ms Sarinporn Jiwanun said people in Myanmar were becoming more modern, with changing lifestyles driven by technology and innovation along with new brands and fashions, all of which have made inroads in recent years.

Some 77 percent of Myanmar people are low-income earners, while 14 percent are middle class and the rest upper class, according to the recent survey.

The phone-use rate has risen to 97 percent from 72 percent in 2013, while most people prefer smartphones to feature phones thanks to high competition among telecoms.Myanmar people are also interested in online communications.

New York-based Envirosell has partnered with Index Creative Village Plc to conduct consumer research in Myanmar and other ASEAN countries.

Digital media has had a major effect on Myanmar society.Messaging app Viber is the most popular social platform, ahead of Line and WhatsApp.This is attributed to the high penetration rate of IT devices including PCs, notebooks and tablets.

"Myanmar people are ready to try products they've never used before such as liquid detergents and floor cleaners," Ms Sarinporn said.

She said Myanmar consumers were seeking products that made their lives easier such as refrigerators and air conditioners. Their well-being has improved considerably with more convenient transport.

At the same time, there has been a change in lifestyles as more people hang out with friends at shopping malls rather than staying at home or going to fresh markets.

Last modified on Tuesday, 24 February 2015 14:24