July 2009 registered the strongest month-on-month growth in contact lens sales
SINGAPORE, Aug. 31 /PRNewswire-Asia/ -- 2009-GfK retail audit results registered an increase of 7% month-on-month in contact lens sales, the strongest rate of growth since the start of 2009.
"Despite having a quarter-on-quarter decline of -9% between Q1 and Q2 this year, sales of contact lenses started picking up in May 2009. Heightened market sentiments coupled with promotional efforts by retailers and manufacturers seems to be driving these encouraging signs of growth." commented Ms. Shirleen Kok, General Manager of GfK Singapore. "In the weeks leading up to the Great Singapore Sale (GSS), manufacturers were active with their island-wide promotions of disposable contact lenses. Promotions by global brands included discounts on combination packs, premium gifts and some even utilize SMS as a means for consumers to enjoy discounts", added Mr. Kelvin Koh, New Business Development Manager of GfK Singapore.
The "Daily Disposable" contact lens segment is gaining popularity in Singapore, staking 43% of the total contact lens sales in July 2009. Results from GfK retail audit data showed that the "Daily Disposable" segment registered an increase of 4 percentage points since January 2009.
The next largest segment is "Monthly Disposable" lenses attributing 42% of the total contact lens sales. "Although the daily disposable segment take up the lion's share of the contact lens market, its dominance over the monthly disposable segment is merely marginal. Top four global brands in the monthly disposable segment make up 87% of its sales, leaving little room for competition." said Ms Kok.
GfK Singapore estimates the total contact lens retail sales in Singapore to be worth about USD45 million for 2009.
"With more upbeat economic conditions, consumers would be more attune to switching from monthly to daily disposable lenses. It is also more convenient for consumers to purchase in the city center area with an increasing number of optical stores opening in hip new malls like ION and Orchard Central. We are expecting stronger demand in 2010, a growth of 5% in contact lens sales next year is possible." commented Ms Kok.
Other than providing contact lens information, GfK Singapore offers research on spectacle lenses; spectacle frames studies providing the industry with a wider perspective of the Singapore optics market.
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 India and Japan, GfK Asia offers extensive coverage of the following countries: China, Singapore, Malaysia, Thailand, Indonesia, Korea, Taiwan, Hong Kong, Vietnam, and Australia. 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.
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