Quote:
Originally Posted by Devils'Advocate
Shouldn't the market take care of itself?
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I think it's starting to do that. Businesses close to the border are noticing the rise in cross border shopping. Then there's the ability to buy good on line. Sooner or later they're going to have to lower their prices if they want to keep thos canadians from shopping in the US.
Consumers have also put considerable pressure on retailers to reduce the price on the goods. Just recently retail ginats Zellers and Walmart have anounced price cuts.
http://www.thestar.com/Business/article/268573
The Hudson’s Bay Co. announced today Friday that it’s using savings achieved thanks the higher buying power of the Canadian dollar — it closed at well above US$1.03 today — to cut prices on nearly 300 targeted items at its Zellers discount department stores.
“We have worked with our vendors to obtain better deals on merchandise at Zellers,” HBC president Rob Johnston said in a statement.
“We understand that the rising Canadian dollar has led to a demand for lower pricing and this is our attempt to provide real savings for Canadian families.”
As for Walmart.......
Earlier this week, Wal-Mart Canada announced it would cut the price of video games to U.S. levels ahead of the pivotal Christmas shopping season.
But the company said today that Wal-Mart Canada, part of the world’s biggest retail chain, has been “seeking and achieving better prices from vendors for more than a year and translating them into lower prices for Canadians,” spokesman Kevin Groh said in an e-mail.
He added that Wal-Mart customers “have effectively been shopping with a higher dollar” all year, with the company able