An interesting discussion here:
https://www.adamsmith.org/blog/if-no...ngs-wouldnt-we
The comment about resoling a pair of £500 shoes but not a £10 pair of trainers is quite a good one: along with the demise of TV-repair shops the once-ubiquitous high-street-cobbler's is also all-but-extinct.
I can even remember the days when people repaired umbrellas.