Canadian Retailers Pricing in USD

[Regorium]

I've started seeing some places where the retailer will say that this product is $60 USD, and then put a daily exchange rate at the counter. I mean, I know if I go to Cambodia, I can pay directly in US dollars (rather than the worthless real), but to see this kind of thing in Canada is a bit unnerving.

Is this even legal? I mean, they could implicitly raise the price every single day based on currency, but to explicitly just say that it's priced in USD seems like it'd go against what having Canadian currency and doing business in Canada should entail.

[PepsiFree]

Where?

[chemgear]

The Sentry Box has been doing this for years now.

[Regorium]

Originally Posted by chemgear

The Sentry Box has been doing this for years now.

This was where I was thinking. I haven't been there for years, and then I see 1 USD = 1.48 CAD at the counter and everything priced in USD really ground my gears.

[burn_this_city]

Nice to see them turn a tidy profit on the exchange rate. Might as well #### people on both sides of the equation.

[MoneyGuy]

Why would it be illegal? Can't a business charge whatever it wants and customers decide to buy there or somewhere else? I can't see happening in too many cases. Those businesses wouldn't be competitive. Some products (i.e., winter produce) will see large increases as they're bought in U.S. dollars.

[Reaper]

Originally Posted by Regorium

I've started seeing some places where the retailer will say that this product is $60 USD, and then put a daily exchange rate at the counter. I mean, I know if I go to Cambodia, I can pay directly in US dollars (rather than the worthless real), but to see this kind of thing in Canada is a bit unnerving.

Is this even legal? I mean, they could implicitly raise the price every single day based on currency, but to explicitly just say that it's priced in USD seems like it'd go against what having Canadian currency and doing business in Canada should entail.

I've encountered this a few times as well. It happens mostly for companies that get their supplies/raw materials from the United States. Theses companies simply want to keep their revenue in line with their costs. It sucks for the Canadian consumer but it helps them stay competitive if their primary market is the United States.

[PepsiFree]

Yeah, don't know about illegal but I certainly wouldn't shop there.

Thanks for the heads up.

[mikephoen]

We have been doing this for many years. Everything we sell comes directly from the US and we pay in USD. Almost all comic stores do this. It works the other way too, when the Canadian dollar gets better we adjust accordingly.

[bc-chris]

i never seen USD pricing in retail

one of my machine suppliers does all their pricing in canadian dollars but you have to call/email for a quote to get a price as most of their product comes out of either japan or the u.s. (so it's all purchased in USD)

it's amazing how much the price will fluctuate depending on the dollar - especially with the high cost of the machines.

i purchased one machine in 2004 - it was $60K
i added another of the exact same machine in 2007 - it was $40K

i prefer a high canadian dollar

[Yanda]

Originally Posted by PepsiFree

Yeah, don't know about illegal but I certainly wouldn't shop there.

Thanks for the heads up.

That isnt much of an option. Sentry Box is the premier boardgame/tabletop game store in the city, they can do whatever they want and still make 100k a month.

[Drummer]

Stubhub

[DoubleF]

IMO, I prefer this. It's better than looking at a Canadian vs US price and wondering why there's a 20% difference when the dollars are close to par.

I can't see why this is illegal, unethical or any similar term.

[troutman]

Sentry Box explains pricing methods (from 2008 I think):

http://www.sentrybox.com/nmanagerpro...in_Pricing.pdf

[Resolute 14]

Originally Posted by burn_this_city

Nice to see them turn a tidy profit on the exchange rate. Might as well #### people on both sides of the equation.

The rate you see on a Google search isn't what you would pay if you actually exchanged money. i.e.: I paid $2.14 = £1.00 at the bank on Friday, though the posted rate online is about $2.07.

As it is, the posted exchange rate right now is c$1.45 = us$1.00, so Sentry Box isn't exactly turning a "tidy profit" there, even if they were charged that exact exchange rate for their purchases.

[DoubleF]

Question for those that use Sentrybox. Do they charge the converted amount in CAD? Or do they just show that conversion rate and allow your credit card to convert to CAD itself?

[CliffFletcher]

I understand what the Sentry Box is doing. But it does irk me to see stock they bought when the CDN dollar was 0.89 to 0.99 US marked with the US price band. They're not simply passing on their increased costs at that point.

[temple5]

I have never tried at tSB, but do they allow you to pay in USD?

[Enoch Root]

If you purchased with a credit card you would get approximately 1.48 as well. No real gouging from the retailer because it would cost them a similar level to convert at their bank.

And no, it is not illegal to post USD prices.

[Enoch Root]

Originally Posted by CliffFletcher

I understand what the Sentry Box is doing. But it does irk me to see stock they bought when the CDN dollar was 0.89 to 0.99 US marked with the US price band. They're not simply passing on their increased costs at that point.

And that's the thing. They purchased the inventory at whatever rate it was at the time. Price the product accordingly and leave it at that.