Confidence in contact lenses covers fall in frame sales

In June the GfK Consumer Confidence Index, which provides a measure of economic confidence among UK consumers, achieved a level measure of ±0, reflecting an equal proportion of respondents who hold generally positive and generally negative economic sentiments.1

Although the index remains in neutral territory, this is the highest level of consumer confidence measured by GfK since 2005, well before the credit crunch and recession hit the UK, and shows a rapid improvement in sentiment over the past 12 months (in June 13 the index sat at a lowly -21).

Similarly, the Office for National Statistics’ monthly total retail sales bulletin shows an increasing level of sales volumes over the past year.2 Unlike the previous five years from 2008 to 2013, where sales volumes were broadly flat and sales value driven only by price inflation, we are now seeing an increase in consumption driving retail value growth as consumers’ improving economic confidence is manifesting itself in their buying behaviour.