Canadians Taking Advantage of Level Loonie

(Video: WIVB TV-Buffalo • Story: Montreal Gazette)



After nearly two years of being abused by the economy, can the Canadian consumer learn to love again?

With the dollar flirting with parity, and e-commerce making discounts more accessible, analysts say the answer is a resounding “yes.”

The real question is whether shoppers will commit to retailers at home or seek a cheap fling with their U.S neighbours.

“Given the combination of the currency returning to par, and the fact that Canadian consumer confidence has bounced back miraculously in the last year, I think we’ll see a real upswing in cross-border shopping,” says Douglas Porter, deputy chief economist with BMO Capital Markets.

“We’re already starting to see some response, both in the three-hour long lineups at the border this past weekend and in companies beginning to cut prices.” Read more here.