Myanmar Ecommerce

Myanmar Ecommerce

Myanmar Ecommerce

UNCTAD is helping to create a plan to promote the development of e-commerce in sectors like food supply, internet distribution, and mobile payments. During lockdowns in Myanmar, e-commerce companies have seen a rise that includes COVID-19, with shoppers storing sanitizers, dry food, endowments, and other vital products on hand. The government prioritized the strengthening of e-commerce, as a consequence of the pandemic, although the country still has smaller numbers of internet buyers only 3 percent of the population shopped online in 2017.

According to the World Bank, the COVID-19 struck Myanmar harshly, with growth in the amount of GDP expected to fall from 6.8% in 2018 to 201 9 and 0.5% in 2010 to 2020. UNCTAD supports the Southeast Asian country to improve the country's national e-commerce policy, as part of its eTrade alliance, to help it rebound from the impact of the pandemic. The study is financed by an Enhanced integrated framework (EIF).

Myanmar's efforts to increase eCommerce support are commendable.Continuous cooperation between private and public is essential to establish strong control and support of the e-commerce national strategy.

Climbing The E-Commerce Ladder

And before the pandemic, Myanmar climbed the e-commerce ladder. The UNCTAD B2C E-commerce Index, which marks the growth of e-commerce in recent years, has jumped seven spots from 133 to 126 out of 152 economies. The Government has taken steps to create a national e-commerce policy consistent with the UNCTAD e-commerce readiness evaluation guidelines and with the country's roadmap on the digital economy.

A webinar was recently organized by the Minister of Commerce to submit a draft plan. Over 90 organizations engaged in Online Consultations with many recalling, in the course of the COVID-19 crisis, that e-commerce has been a significant pillar of the Myanmar economy.

Director-General of the trade department in the minister of commerce, U Minn said, 'E-commerce is becoming rapidly a necessity for greater sustainable economic development and productivity in developed countries. Chaw Khin Khin, the Myanmar computer joint secretary said, 'The e-commerce strategy will help increase access to regional and foreign markets, build jobs locally and promote synergies among government initiatives and national plans.'

In line with its e-commerce obligations in the Association of the South-East Asian Nations and multilateral efforts in the World Trade Organization, the Plan is also intended to promote the international integration of Myanmar.

Overcoming Challenges

In Myanmar, many companies face major obstacles despite pandemic booms in e-commerce. THE latest UNCTAD survey of e-commerce companies and networks around the world identified problems including supply and logistics chain instability, higher lock-down cost, and market closing, transport, and storage.

In addition, companies received financial and monetary aid from the government's economic stimulus. Its incentive plan contains tax exemption incentives, company credit, food aid and transfers to households, and exchange and investment-enabling policies. E-commerce initiatives include encouraging mobile payment systems and launching a marketplace on which supermarket companies are able to market their goods. The government also plans to award grants to technology companies in Myanmar that propose creative ideas in the fight against COVID-19.

Help Countries Use E-Commerce

Since 2017, UNCTAD has carried out 25 e-commerce readiness tests in the Asia-Pacific and Africa regions of emerging and least developed countries. These evaluations allow countries to recognize and overcome e-commerce challenges to driving economic development, fostering integrated trade, and creating employment. Different nations, with the assistance of UNCTAD, are adopting evaluation guidelines.

Myanmars New Ecommerce Consumers

In 2013, Myanmar's first hosting of the biennial Southeast Asian Games (SEA Games)launched the latest Rgo-47 Royal Golden Owls (RGO)customer from Myanmar. RGO was in charge of manufacturing official products for SEA Games, including t-shirts and fashion accessories for show and marketing, through the leveraging of their family fashion business at 2 weeks event.

It was a good chance to give Myanmar a strong picture and as an official event sponsor and operator, hitting a huge audience with their new apparel company. And it was around that period that the corporation saw a change in customer behavior and that was the beginning of the country's online shopping potential. 'To inquire if we should sell SEA Games souvenirs to their houses, people can email us or contact our Facebook page,' Win said. 'We weren't able to do it at the time and we didn't think that our citizens of Myanmar would want to shop too much.'

In April 2014, the year that marked the 'Internet Revolution' of the country when mobile penetration jumped at 83% in just five short years, RGO, which was now rebranded as rgo47, chose to start its online channel. The company continues to market its most famous segment across its eCommerce outlets to this day: fashion clothing that includes daily clothing, sportswear, slippers, and bags, and its most recent additional range: cosmetics, kitchen appliances, and electronics and home-building products.

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Overview of Myanmar Ecommerce

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