As we have seen the dollar depreciate pretty fast in the past months, the Canadian dollar had been growing stronger.
I don’t know if people notice but on books prices are printed on the cover and cannot be changed without a certain sale and to do so to every book would be very costly.
For example, a book that was given to me free at Conservative Political Action Conference last year by Amanda Carpenter called “The Vast Right-Wing Conspiracy’s Dossier on Hillary Clinton” would have cost me $19.95 in the U.S. and $24.95 in Canada.
If you convert the $24.95 it should equal close to $19.95USD but today it doesn’t it equals $24.88 USD.
Canadians have to basically pay $5 U.S. dollars more for their books than Americans.
Now the Economist reports that some bookshops are only making the Canadian pay the American dollar amount. This is making them sell the book at a loss. They are left with no option because people will go on Amazon.com and buy them.
Is this competition or sticky prices?