Asian Optical Retailers Upbeat about 2010

GfK Asia's survey across five key Asian regions shows 70% of Asian Optical Retailers believe 2010 business will be better or the same

SINGAPORE, Nov. 2 /PRNewswire-Asia/ -- 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, Cambodia and Vietnam. For further information please visit our website: http://www.gfkrt.com

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 information, visit our website: http://www.gfk.com

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