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Daily Telegraph, 13/03/06
Robbing you blind - Claims opticians mark up eyewear by 700 per cent
by Darren Behar
GLASSES wearers are being stung for hundreds of extra dollars by opticians charging massive mark-ups, it has been claimed.
Standard prescription spectacles cost about $300 to buy from the shops but can be made for as little as $40.
That is a mark-up of more than 700 per cent retailers are charging.
Critics believe retailers are taking advantage of a captive audience who have no choice but to buy glasses. The mark-up was revealed after the launch of a new internet company which claims to undercut store-based retailers and help people “avoid the rip-off at the shops''.
Glassesonline managing director Kevin Reece came to the $1 billion-a-year industry knowing little about it and investigated costs before setting up.
His inquiries met a blanket silence initially from industry insiders but eventually he established it costs as little as $40 to make a pair of glasses - many of which are made in China.
Mr Reece believes the cost difference needs to be exposed so the consumer can benefit. He said: "The shops weren't keen to share cost information but eventually it came out - glasses priced at $300 actually cost about $40 to make.''
The industry defended its prices, claiming the mark-up was much lower. Experts said even lower-end spectacles with lenses cost more than $40 to make and retailers had to factor in the cost of optometrists and rent.
The price depends on the quality of the lenses and where the frames are made, they said.
Optical Distributors and Manufacturers Association spokesman Paul Stacey said: "I do not think the optical industry has anywhere near that mark-up." OPSM public relations manager Darren Aquilina said their frames came from Italy, adding: "We offer a one-on-one service.'' Return to 'Press’
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