GfK Asia Releases First Ever Malaysian Contact Lens Industry Retail M... ( SINGAPORE April 17 Asia/ -- GfK A...)

GfK Asia Releases First Ever Malaysian Contact Lens Industry Retail Measurement

Date:4/16/2009

SINGAPORE, April 17 /PRNewswire-Asia/ -- GfK Asia is pleased to release its first ever Malaysia contact lens retail measurement for the optical industry today in line with the 14th MAPO (Malaysian Association of Practicing Opticians) Fair 2009. According to our recent survey in Malaysia, 25% of consumers visit an optical store to buy contact lens. This is close to the Asian average of 28%. "Despite the current financial crisis, there is a steady demand for contact lenses in Malaysia and we see a lot of potential for this industry to grow in the coming years," quoted Jennifer Chan, GfK Malaysia General Manager. "70% of customers who visit optical shops in Malaysia are adults exemplifying more spending power, while other Asian countries only average 57% of adults. This clearly shows that the Malaysia Contact Lens market is less reliant on children and students," added Jennifer.

Strong presence of multinational brands is felt in Malaysia and collectively, they take up about 90% of the contact lens market. Currently the optics market has more than 2,000 optical shops across the West Coast of Malaysia accounting for about 80% of the Contact Lens sales. "Malaysia optics business is still fairly simple in competition. If you compare Malaysia with Taiwan where population level is about the same, Taiwan has more than 4,000 shops. The competition there is more intensive. Good distribution strategy with consistent channel efforts should enable contact lens players to do well anchoring their position as the market grows in the future," commented Stanley Kee, GfK Asia Commercial Director.

Within the disposal range of contact lens, monthly's wear type contributes 66% of value sales with dailies contribution taking another 17% while the rest occupies 17%, showing very simple market structure. "While the market is simple, Malaysian consumers is also price sensitive with more than 60% of market purchase value per box f
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SOURCE GfK Asia Pte Ltd
Copyright©2009 PR Newswire.
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