Thailand
Myanmar: Consumers willing to spend more on beauty products, services
Consumers in Myanmar are reaching deeper into their wallets for beauty products and cosmetics. As incomes and exposure to the internet rise, many have also opted for famous, higher-end beauty brands such as Revlon, Maybelline and L’Oreal from Europe as well as Asian brands like Kose and Shiseido in recent years.
“More women prefer branded products than before as the quality is better and they can afford those products now,” said make-up artist Ma Nyi Nyi Maung.
That is paving the way for a greater variety of brands at different price points in the Myanmar market.
Today, western brands such as MAC, Clinique and Sephora are easily available on the cosmetics shelves at shopping centers as well as online. Meanwhile, Korean brands such as Nature Republic and Etude House are also popular due to the influence of Korean movies and music.
“Nowadays, people can choose any brand that they like and are able to afford more products,” said U Win Naing, vice chair of Myanmar Cosmetics Association.
According to beauty blogger Ma Win Min Than, the majority of today’s consumers can easily afford products within the price range of K50,000-K100,000.
Demand for services
Notably, demand for beauty services such as facials, spas, botox injections and other aesthetic treatments have also been on the rise in recent years.
“When it comes to considering beauty, we can’t just talk about only makeup and different brands of cosmetics. Today, aesthetic clinics have become a major business in the beauty market,” said Dr Aung Thiha, an aesthetic specialist from My Princess Beauty Clinic.
“In the past, Myanmar women were not familiar with beauty injections and laser treatments. But due to influence and publicity generated by actors and beauty bloggers, ordinary people now want to do the treatments too,” he said.
Indeed, the number of beauty and aesthetic clinics is growing on the back of rising interest and demand. Just five years ago, there were only a handful of beauty clinics in Myanmar. Now, there are more 50 clinics in Yangon alone.
But this is just the start of the beauty business boom in Myanmar. “In the past, people could only receive common skin care treatments at beauty spas. Nowadays, a wide range of beauty options such as laser rejuvenation, facial treatment, body slimming, beauty injection and liposuction are being offered at beauty clinics,” said Dr Aung Thiha.
The treatments are currently priced between K400,000 and K900,000.
Source: https://www.mmtimes.com/news/consumers-willing-spend-more-beauty-products-services.html