The cosmetics market in Myanmar is growing fast but obstacles remain as Jessica Mudditt reports from Yangon
Personal care product investors and traders are eyeing Myanmar with a “gold rush mentality,” Marita Schimpl, Head of Qualitative Research and New Business Development at Yangon based Myanmar Survey Research (MSR), has told SPC.
Now that Myanmar is slowly opening up to foreign trade and investment, and international sanctions are lifting due to increased democratisation, Schimpl said: “Everyone thinks they can’t miss out. In a way they’re right – it’s difficult for latecomers because people are more brand loyal when it comes to cosmetics. That said, the door is never closed when a brand has a great product and advertising.”