Low loonie keeping a lot of shoppers on this side of the border

VANCOUVER (NEWS 1130) – With the low Canadian dollar, have you been heading across the border to shop? If you’re like a lot of people across the country, you probably aren’t.

About two thirds of people say cross-border shopping is no longer worth it because of the money lost on the exchange rate, according to a survey from RetailMeNot.ca.

That seems to match up with what the Retail Council of Canada has been noticing.

“BC consumers spent eight per cent more in the month of May, 2015 compared to the month of May, 2014,” says Vice President Mark Startup.

He thinks the weaker dollar is one reason for that.

“Interestingly, here in British Columbia, we registered the largest sales increase in total retail sales in the month of May compared to all provinces in Canada,” he adds.

The survey also finds just 31 per cent of Canadians are confident the dollar will strengthen by the end of the year.

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