According to a report by Statistics Canada, Canadian purchases for across the border have increased by 72 per cent from 2006 to 2012, rising from $4.7 billion to $8 billion. Total retail salesfor Canada also grew 20 per cent, rising to $468 billion. The results are due to the rising currency in that time period, averaging about 95 U.S. cents.
Canadians who live close to the U.S. border also choose to cross over for cheaper gas and grocery prices, Statistics Canada said in the report, also pointing out the retailer landscape difference, duty-free limits and economic conditions as factors that weigh in on the cross-border trend. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
