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GfK Asia Releases First Ever Taiwan Contact Lens Industry Retail Measurement

GfK Asia Pte Ltd
2008-09-17 12:53 3500

Taiwan Consumer Retail Contact Lens sales to reach USD200 Million by Year End 2008

SINGAPORE, Sept. 17 /Xinhua-PRNewswire/ -- GfK Asia releases its first ever Taiwan contact lens retail measurement for the optical industry today. The initial report estimates the total value of Taiwan contact lens consumer retail sales to be worth around 200 USD million by year end 2008. GfK forecasts 2009 to be in line with market expectations, exceeding 2008 by a minimum of 5% in market value growth.

GfK Asia Commercial Director, Stanley Kee said "It is already known that about 60% of the Taiwan population needs eye sight correction and to date only about 30% wear contact lens. In Taiwan, disposable contact lens take up 71% of the market, 54% of the contact lens purchased are daily disposables."

While local Chinese brands do have a strong foot hold in Taiwan, a single foreign brand commands the lead in both value and unit sales sold as observed in July 08 performance. Collectively, foreign brands take up about 59% of the island’s contact lens market; however, the Taiwan market is very competitive for both foreign and local brands with more than 4000 optical shops across the island. "Consistent channel efforts and reaching out to consumers seems the only way to maintain sturdy market share" added Mr. Kee.

GfK Asia July 08 results show organized chain Opticians stores commanding a crucial role in distribution. They take about 42%, both in value and volume, of contact lens over the counter transactions. Organized chain Opticians stores are well spread across the island which determines their success; Taipei city itself commands 22% of the market while the North, Central and South regions are 32%, 26%, 20% respectively. "To do well and excel in the Taiwan contact lens business, distribution must be massive and rather than in selected geography or trade partners. "added Mr. Kee.

More than 20% of consumers visiting Optical stores are shopping for spectacles. Other than contact lens; spectacles lens, spectacles frames and sunglasses play a very critical part of the total Optics industry. GfK will begin to track spectacles lens and other optical products imminently to provide the industry with a more complete view of the market. These much needed studies do not exist from any other research company. The initial survey by GfK shows that major spectacle lens brands are well received by local Taiwanese included major foreign brands like Hoya, Nikon and Zeiss.

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 .

Media Contact:

Lisa Williamson

Bryant Williamson Communications

Tel: +65-9100-4097

Email: Lisa@bryantwilliamson.com

Source: GfK Asia Pte Ltd
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