Canadian Book Buyers Are Angry Over Dollar Parity

Canadian book buyers are mad! After decades of higher book prices being explained away by the weak Canadian dollar, book buyers suddenly find themselves paying “more” money for the same book.

From USA Today:

Among books released in recent weeks, as the currencies approached parity, the list price on Alan Greenspan’s The Age of Turbulence: Adventures in a New World is $35 U.S. and $42 Canadian. Suggested retail prices for James Patterson’s You’ve Been Warned are $27.99 and $32.50.

“Before, when there was a 5% or 10% difference (in the currencies), people would … accept that the Canadian price was higher without making a calculation,” says Douglas Porter, deputy chief economist at BMO Capital Markets. “Now that we’re spot-on parity, it’s tougher to explain away that difference.”

Books have their prices set months in advance, so it’s tough luck for Canada, though David Kent, CEO of HarperCollins Canada, says his team is working on it. “One tactic they’re taking: Putting stickers with adjusted prices over older Canadian prices.”

Sorry, Canada. We suppose you’ll have to visit the library for something to read while you wait in line for your excellent health care.

Dollar parity angers Canadian book buyers [USA Today]
(Photo:TheNose)