MEDIA RELEASE PR36899
Asian Optical Retailers Upbeat about 2010
SINGAPORE, Nov. 2 /PRNewswire-Asia-AsiaNet/ --
GfK Asia's survey across five key Asian regions shows 70% of Asian Optical Retailers believe 2010 business
will be better or the same
GfK Asia releases its Pan Asia optical retailers and consumers preference survey information in line with
the 17th Hong Kong Optical Fair, hosted by Hong Kong Trade Development Council. The five key regions
surveyed in October 2009 include China, Hong Kong, Korea, Singapore and Malaysia. The survey shows that
70% of optical retailers indicate business will be better or the same in 2010.
GfK Asia Regional Commercial Director, Stanley Kee said "In line with the general economic recovery signs
across Asia, our survey results show Optics industry upbeat and confident as we head towards 2010. GfK
also sees the industry reinventing itself through personalized service logistics solution by direct delivery to
consumers. Change of retail strategy is also observed. Some large Chain stores are expanding their
distribution not by setting up new shop outlets but populating their presence by having dedicated retail space
in department stores etc. achieving a "shop-in-shop" approach" "In Korea, some shops even invest in Karaoke
facilities to appeal to their shop customer profile needs. Such unique approach in retailing creates a whole
new excitement as we move forward into a promising 2010 business year" added Mr. Kee.
According to GfK Asia survey for sunglasses and frames, result shows that 55% of consumers see design
as the key deciding factor to purchase sunglasses, spending an average of 140 USD per pair. Surprisingly,
retailers see price as the biggest motivator for consumer purchase. The survey also shows that 62% of
consumers who purchased sunglasses wanted to protect their eyes from the Sun. "From the results, Asian
consumers are willing to spend more for their sunglasses if the design fits their fashion lifestyle appeal."
commented Mr. Kee.
GfK Asia Regional Account Manager, Anthony Tan said "For contact lens, silicone hydrogel segment is the
emerging trend likely to take the retail contact lens market by storm in near future. GfK's retail audit data in
Asia Pacific already shows 13% share for silicone hydrogel segment compared to total contact lens market
within a short span of one year until September 2009. Growth for this segment has been encouraging;
consumer preference for high quality contact lens products is evident. We foresee good times ahead for this
category."
Mr. Kee said "The recent recession has allowed the optics industry to re-examine its business, adjust its
distribution strategy, personalizing its services through efficient logistic solution to create convenience, while
innovating products and infiltration of niche segments within the markets." Both Mr. Kee and Mr. Tan are also
invited guest speakers at the 17th Hong Kong Optical Fair on the 4th of November 2009.
About GfK Asia Pte Ltd
GfK Asia Pte Ltd (GfK Asia), part of the global GfK Group, is a leading research company with over 20
years experience in providing reliable Asian retail and technology market data. Our analysts track a broad
range of consumer technology markets, including: consumer electronics, telecommunications, IT, household
electrical appliances (large and small), optics, entertainment, gaming as well as digital imaging. GfK Asia
covers more than 55 product groups and over 350,000 models, collecting monthly data from over 6,000
specialist / independent shops as well as over 170 organized retailers with approximately 15,000 outlets. This
disciplined methodology, together with tight field operational control in every country, allows GfK Asia to
produce high quality reports containing reliable information that our clients can use with confidence.
Based in Singapore, with other offices in China, India, Japan, Australia and New Zealand, GfK Asia offers
coverage of the following countries: Singapore, Malaysia, Thailand, Indonesia, Korea, Taiwan, Hong Kong,
The GfK Group
The GfK Group is the No. 4 market research organization worldwide. Its activities cover the three business
sectors of Custom Research, Retail and Technology and Media. In financial year 2008, the Group achieved
sales of EUR 1,220.4 million. The Group has a total of 150 companies operating in more than 100 countries.
Of the 10,267 employees (as at March 31, 2009), more than 80% are based outside Germany. For further
Editors Notes:
-- GfK Asia currently tracks contact lens market in China (3 cities: Beijing, Shanghai and Guangzhou),
Korea (5 Regions: Seoul, Inchon, Kyonggi, Kyongbuk, Kyongnam), Taiwan, Hong Kong, Singapore and
Malaysia.
-- In November 07 GfK Group took over the optics panel from The Nielsen Company in Japan. This
acquisition allows GfK a very strong measurement representation to the world market for Optics industry.
-- In January 2009, GfK Group acquired The Nielsen Company's optics panel in the USA.
Media Contact:
Lisa Williamson
Bryant Williamson Communications
Tel: +65-9100-4097
Email: Lisa@bryantwilliamson.com
SOURCE: GfK Asia Pte Ltd
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