Page 49 - myanmar

WPP company TNS has produced an in- depth study into consumers’ lives, called Myanmar Life or MyLife. It compares key indicators in Myanmar with neighboring markets, and shows that two-thirds of households already generate between $126 and $500 per month
In years past, people who had money and opportunity in Myanmar used both to leave; there are small but significant Burmese expatriate communities in Australia and the United States. Now, as living standards improve, they may see reason to stay. Indeed, Burmese who have been living abroad or who are overseas-educated have been returning, often to start their own businesses.
Monthly household income
In Myanmar, there is a sense of modesty about the population, and to be showy about money or the things you have bought is considered gauche. Indeed, for many years, wealthy people were viewed with great suspicion, assumed to have achieved their affluence through corruption or cronyism.
After groceries, education is the
next biggest category of spending in Myanmar, accounting for 12 per cent
of all expenditure – the same as in Cambodia, and slightly higher than in Vietnam. There is an opportunity here for products, services and brands that can link their offering to education.
10% 23%
2% 11%
32% Vietnam 22%
9% 8% 15% 26%
Humility is considered a virtue in Myanmar
Household expenditure breakdown
11% 11%
(% Agreement)
It is important to be humble
78%
(% Total)
13%
3%
8%
5% 5%
5%
■ Groceries
■ Eating/drinkingout ■ Education
■ Transportation
■ Utilities
12% 25% Myanmar 30%
11%
Position/ status in society is most important
49%
What others think about me is very important
23%
38%
5%
12% 6%
■ Communications ■ Toiletries
■ Housing
■ Entertainment
Source: TNS Myanmar Life (urban Myanmar)
16%
■ UnderUS$125
■ US$125-US$225 ■ US$225-US$325
Cambodia
This distaste regarding ostentatious consumerism endures, but is somewhat in conflict with a sense of aspiration. It is this aspiration, for consumers themselves and especially for their children, that has lifted more than a billion people out of poverty across the region in the past 30 years.
■ US$325-US$500 ■ US$500-US$750 ■ OverUS$750
■ Others
Source: TNS Myanmar Life (urban Myanmar)
26%
Source: TNS VietCycle / TNS Cambodia Life / TNS Myanmar Life (urban Myanmar)
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