More consumers in Myanmar trust global brands they encounter online than in other countries in the region, and many are willing to share personal data with these companies, according to a global research agency.
“Over half [54 percent] of connected consumers in Myanmar trust global brands, compared with 41pc globally,” the Kantar TNS said in a statement. “Only 12pc [of Myanmar respondents] are concerned about the amount of personal data that companies have on them, compared to 40pc globally.”
Kantar TNS surveyed 70,000 people across 56 countries and conducted 104 in-depth interviews as part of the 2017 Connected Life study. The research explored consumer trust in brands in relation to four themes: technology, content, data, and e-commerce.
The survey findings showed that optimism around connectivity is still high in Myanmar, and filters through to how people feel about sharing personal data, according to the statement.
“For the most part, consumers have not realised the trade-offs intrinsic to a connected lifestyle that has caused other countries to become more cynical about the way companies are using this information,” added the statement.
“In comparison with the rest of the world, the Myanmar consumers are less skeptical of the content they see and more accepting of brands online,” according to the study.
Kantar TNS said the trust should give impetus to these global brands “to continue to earn this trust through appropriate interactions or risk the rise of doubt and cynicism.”
The survey, however, noted that despite their relaxed attitude to brands and data sharing, people in Myanmar are skeptical of the content they see online.
“Only 15pc of connected consumers think that what they see on social media channels is reliable,” it said.
Jason Copland, country leader of Myanmar, Kantar TNS, noted that Myanmar consumers’ high trust on global brands they see online might be due to the fact that many people only got access to Internet recently.
“Three years ago [mobile phone]sim cards were an unaffordable luxury in Myanmar – now they are commonplace,” he said. “This has resulted in an explosion in connectivity, and an enthusiasm for what this connectivity allows people to do.”
But Copland warned that Myanmar consumers “have had to learn quickly” who they trust online and how they share their data.
“However, now is a great time for brands to demonstrate just how much value they can add to people’s lives via online channels, and build these relationships from the ground up,” he said.
The mobile-first environment of Myanmar has also resulted in connected consumers who are willing to try newer forms of interaction with brands – 41pc of consumers are happy to interact with chatbots online, with only 27pc saying that they want brands to have an offline presence, Kantar TNS said.
“This progressive view on digital interaction also translates to mobile payments. More than one third [36pc] of people in Myanmar say that they are willing to pay for products using their mobile phone, compared to only 14pc in Vietnam,” it said.
“Providing these innovative services can prove their reliability and benefits to consumers, this positive attitude towards innovative payments will support the emergence of ecommerce in the country,” it added.
Source: The Myanmar Times
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