In my opinion I do believe that what the majority of people say and what people actually do with their money are different all together. It may be correct that the economy at the moment is bad, but I recently went to my local camera shop to get a quote for a Canon 50D body only and the local shop wanted $1899. I can get the same camera from the same chain shop interstate for $1699. I can buy locally or save $200. When the $ picks up again a lens purchase can be around 45% cheaper than here in Australia. Each to their own, but saving $600+ then I reckon I know where a lot of people will purchase.
Only got to look at the Supermarket chains and the closing down of small family run businesses to see were the majority spends their $$ Sadly I don't see it changing anytime soon. We will come out of the global recession some day, but it will all be back to the 'free market' model as well....