A screen grab from MMRD website
Global information and insights provider, Nielsen Holdings (Myanmar) has announced a joint venture collaboration with Myanmar Market Research and Development (MMRD) effective from March 1, 2014.
The joint venture entity will see the two organisations combine their collective solutions to help companies that are established in Myanmar or have plans to enter the market and need to understand the market and consumer dynamics.
Nielsen told e27 that the financial details of the venture cannot be revealed due to company policies.
“With a population of over 56 million and the second largest land mass in ASEAN, Myanmar represents one of the last remaining untapped frontiers for our clients,” said Suresh Ramalingam, MD, Thailand, Vietnam and Myanmar cluster, Nielsen.
Ramalingam shared with e27 that Nielsen will continue to investigate such opportunities for geographic expansions moving forward.
The main idea behind the collaboration is to extend the capabilities of both organisations, and expand coverage. “Our joint efforts will enable us to provide clients with deeper insights into what consumers are thinking, watching and buying in Myanmar,” expressed Ramalingam.
According to Nielsen-MMRD, close to half of the population (47 per cent) of Myanmar is aged less than 24 years old.
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U Moe Kyaw, Senior Advisor, Nielsen MMRD said,“We’ve seen a substantial increase in demand for insights on Myanmar, evidenced by the 88.5 per cent net growth in market research reported by ESOMAR, and we are now much better positioned to help our clients here and abroad to understand our unique marketplace.”
Nielsen-MMRD further highlights that internet penetration in the country remains weak in Myanmar. Only four per cent of the country’s consumers have internet access, with usage averaging to 3.5 hours a week. Usage in metropolitan areas outweighs urban and rural areas, with average metropolitan internet usage at 16.4 per cent compared to 7.8 per cent and 0.7 per cent in urban and rural areas respectively.
Currently, television is the most heavily used media in Myanmar, with 50.7 per cent of the population tuning in on a weekly basis, followed by radio, which has 43.4 per cent weekly penetration.
“Nielsen MMRD will further build the existing capabilities in Myanmar around retail measurement, media measurement and consumer insights to make it best-in-class and lead in the marketplace,” said Ramalingam.
Image Courtesy: Nielsen