Why waste time and effort travelling to the States when you can enjoy nearly the same deals without having to go south? All you need to do is look up the best deals online and you can save yourself stupidly long border waits, currency exchange fees, and all those extra duty and shipping costs.
Most years, us Canadians sit around and debate whether it’s a good idea to go south to shop. Not so long ago (okay, it was a long, long time ago), the Canadian Dollar was close to par with the US Dollar. It’s been a rough few years, but us Canadians will be happy to know that the Loonie is back on the rise. It’s worth over $0.80 USD now! That’s pretty nice improvement over a couple of years ago.
While the Canadian dollar may still be lower than the American one, the recent upswing has resulted in many improvements (particularly related to cross-border shopping)! With a stronger dollar, the cost of cross-border shopping has come down significantly for Canadians. Still, it’s expensive. With so many great deals in Canada nowadays, many of us have chosen not to cross the border and shop in our homeland.
Demystifying the hype of shopping in the States
For years, many people have wondered why a Canadian would go all the way to the United States just to shop? The answer: It can be way cheaper to go south. Staples like groceries are significantly cheaper in the US, sometimes by as much as 40% to 50% when compared to Canada. However, this has changed due to the growing popularity of Black Friday in Canada!
The popularity of Black Friday on this side of the border means that many Canadian consumers expect to find amazing deals and discounts at home this year. As the market has changed, Canadian retailers have begun to aggressively slash prices in order to meet our changing expectations.The result: we get some impressive Black Friday deals.
Canadians go south again
According to a 2016 survey, a growing amount of Canadian shoppers (45% to be exact) planned to do some shopping in the US last Black Friday. We get it. Still, with so many American-based retailers now moving into Canada, it seems like a bit of a hassle when you’re able to get similar deals without having to travel to a different country.
Really, there are a lot of advantages to staying in Canada like:
1. Currency exchange savings
Cross-border shopping means converting Canadian Dollars into American Dollars. The swap will cost you up to a 1.5% commission fee (depending on the broker) plus the difference in exchange rates. If you choose to shop at home, you can get great Black Friday deals without all the currency exchange costs.
2. You can find better deals in Canada
To keep us in the county, Canadian retailers have now (finally) begun offering better deals on stuff that we actually want. What that means for us is that we’re now able to take advantage of some awesome deals without needing to hop in the car and drive to the States.
3. No duties at the border
Since you’re no longer buying stuff in the US, you don’t have worry about paying (sometimes very expensive) duty fees on your way back. No travelling, no duties. Easy.