U.S. retailers reported Canadians boosted business on the weekend as cross-border bargain shoppers tested their buying power with the loonie just under par.
"They are keeping us in business, basically," said Judy Schaefer, the manager of a discount shoe store in Niagara Falls, N.Y. "And thanks to them. Right now our Canadian-based customers I would say are close to 60 per cent."
Ed Healy, a spokesman for the visitors centre in Buffalo, N.Y., said traffic has always been steady between the two countries but travel across the border has increased as the loonie ascended.
Bruce Cran, president of the Consumers' Association of Canada, said there's no excuse for the price differential.
"There's absolutely no justification for this," he said. "Somebody is making windfall profits … and they can't be weaned from this."
Cran said consumers should do price comparisons between stores in the U.S. and shop accordingly.
The Canadian dollar reached parity with the U.S. greenback for the first time in almost 31 years on Sept. 20. Since then, it has hovered a little under parity. U.S. retailers have reported a boom in business, while Canadian consumers have complained that retailers at home haven't changed sticker prices to reflect the current exchange rate.
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We want to hear what you are finding when comparing prices between Canada and the United States. The dollar is almost at par - what about prices on products from toasters to automobiles. Let's hear from you.
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"They are keeping us in business, basically," said Judy Schaefer, the manager of a discount shoe store in Niagara Falls, N.Y. "And thanks to them. Right now our Canadian-based customers I would say are close to 60 per cent."
Ed Healy, a spokesman for the visitors centre in Buffalo, N.Y., said traffic has always been steady between the two countries but travel across the border has increased as the loonie ascended.
Bruce Cran, president of the Consumers' Association of Canada, said there's no excuse for the price differential.
"There's absolutely no justification for this," he said. "Somebody is making windfall profits … and they can't be weaned from this."
Cran said consumers should do price comparisons between stores in the U.S. and shop accordingly.
The Canadian dollar reached parity with the U.S. greenback for the first time in almost 31 years on Sept. 20. Since then, it has hovered a little under parity. U.S. retailers have reported a boom in business, while Canadian consumers have complained that retailers at home haven't changed sticker prices to reflect the current exchange rate.
Full Story
We want to hear what you are finding when comparing prices between Canada and the United States. The dollar is almost at par - what about prices on products from toasters to automobiles. Let's hear from you.
More...