EDITOR'S LETTER
Hey Big Spender

Call it luxury. Or call it ultra high-end. Whatever the term, the fact is that high price items, whether they're $1,000 eyeglass frames or $20,000 limited edition watches, are hot.

And, according to a Capgemini-Merrill study, the rich just keep getting richer. In fact, the wealth of Americans with more than $30 million in financial assets rose 45 percent between 2002 and 2003. In 2004, the legendary six- and seven-figure Wall Street bonuses were up eight percent. Add that to the big bucks many boomers see when they inherit the family homestead, and it's little surprise that the number of millionaires rose 11 percent over the last two years. In our business, that means it's a good time to expand your presence in the high end.

Edward Wolff, a professor of economics at New York University, explains why: "To keep their status, they have to compete in terms of luxury consumption. The mere fact that this group can pay these prices becomes an indicator of social standing."

So, next time you're nervous about asking $500 for a pair of glasses, remember that no one at Neiman Marcus feels fidgety ringing up hot sellers like their cast-in-crystal versions of Mr. and Mrs. Potato Head. The price for this pair? $8,000!

Stephanie K. De Long
Editor-in-Chief

P.S. Don't miss this month's CE course, sponsored by Transitions Optical on its newest technology.