As the Canadian dollar soared early today to its highest level since 1960s and postal warehouses filled up with goods bought online from U.S. retailers, another major Canadian retailer announced price cuts aimed at luring customers into its stores.
Indigo Books and Musics Inc are lowering its book price by 10 to 20 cents off on any books. They said that there will be higher discount is rewarded for costumers who belong to its "irewards" loyalty program. The reason that they are lowering its price is because many people are buying books from U.S. online system not from Canadian book stores.
The discount does not completely close the gap between the printed prices of Canadian and U.S. books. But in a notice to customers handed out in its stores, Indigo says books in Canada will always cost up to 10 per cent more due to differences in the scale of the business here.
The Canadian dollar rose another 0.3 per cent early Wednesday to $1.0513 U.S. and is up 22.6 per cent against the U.S. greenback so far this year. Yet consumers have pointed out that prices for many goods remain as much as 30 to 40 per cent higher in Canada.
Several major retailers have responded by publicizing their efforts to lower prices for consumers, including discount retailers Zeller's and Wal-mart.
The price gap on books is particularly evident to consumers as both the U.S. and Canadian prices come pre-printed on the book cover, Huie said.
Many consumers don't understand that the price printed on the book is set by the publisher, not the retailer, often six months before the book appears on stores shelves, Indigo also explained.
In my opinion, I think that because the book's prices are going down, it will be very good for all of us in Canada. However, because my father is working in Korea, he has to send more money for the same amount of money to be received. I wish that the book prices go down as much as possible.
Article from: http://www.thestar.com/Business/article/272284
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