Comment: Lessons in luxury

While it is clearly premature to suggest that we are witnessing any sort of 'green shoots of recovery', several monitors of the optical market do give cause for guarded optimism.

The annual review of the Optician Index reveals that turnover per eye examination actually rose last year, albeit by a mere 1 per cent, with an average of £141.20 for 2008 compared to £139.90 in 2007.

This may be a small crumb of comfort, but looking at GfK's appraisal of luxury sales (items at £190 and above), this sector is seen to have maintained its 11 per cent value share (January-November 2008). There are two reasons behind this unexpected fillip, that manufacturers are producing more luxury frames and a greater share of new models sold in premium opticians are in this price band. At the same time, the value of luxury sunglasses through optical practices is reported to have grown by 55 per cent over 2007. There is an argument, and it's also touched upon in the Index, that in tougher times consumers can be persuaded to spend more on quality items, rationalising the additional spend as investing in a product that should last longer.