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5 Online Trading Behavior in Myanmar

Myanmar has been an emerging market with high growth rates over the years, according to the Asian Development Bank, its economic growth rate has continued to range from 5.9% to 8%. meanwhile, Myanmar’s per capita income has also grown steadily over the past three years.

An important factor contributing to the continuous growth of Myanmar’s economy is the expansion of the retail sector with social media as one of the key mechanisms. After the Mobile Revolution phenomenon in 2014, where 84% of Burmese citizens have become the owner of a mobile phone number, the price of a mobile phone SIM is very cheap at only $USD 1.50 after a high price of $USD 2000 in 2008-2009.

Interesting online trading behavior

• There are currently 53.98 million phone numbers in use, which is equivalent to 101% of the country’s population. That means quite a few own two numbers, and 99% of them are Sim Pre-Paid.
• The number of Internet users increased by 29%, with the largest increase in social media usage by 23%.
• Facebook marketing spends a lot of money on reaching reach, with 20% of page owners paying for reach, and reach generated in pay-driven countries reaches 50% of total reach. Occurred with the engagement rate at 5.5%
• Myanmar is a country where online trading has not yet fully expanded. This is mainly due to the low rates of the population’s access to banking, only 23% of the population have bank accounts, and credit card issuance to Burmese residents is very low
• The content sent out on Social Media is therefore an advertisement for product recommendations. and agreeing to order and collect money on delivery by sending goods made by both bicycles and motorcycles
• Shop.com.mm is Myanmar’s largest online shopping platform. It has an average of 625,000 visits per month.
  The most sold items online are clothing and gadgets.

Even today, online shopping still has a major hurdle is the banking system. But it is expected that other types of e-wallet systems will be available in Myanmar within 2020 and that will be another big turning point for online trading in Myanmar.

Entrepreneurs are interested in marketing Therefore, it should focus on building the brand and the product to be known first in the early stages in order for the brand to be popular in the market. It is familiar to consumers first. When all sales barriers are broken Then the opportunity for expansion will be faster.