US malls bordering Canada offering specials to lure Canadians as loonie dives
The low loonie or Canadian dollar began to fall against the U.S. dollar last fall. Before its fall Canadians often went on shopping trips across the border to buy many items at lower prices.
|Although the loonie has recovered slightly to around 76 cents U.S., it is still too low to entice Canadian shoppers to travel to the US. The loss of Canadian shoppers has had a detrimental effect on malls that previously had made extra profits from the Canadian trade. Stephen Fine, president of the resource site CrossBorderShopping, said: "They're really noticing the decrease in Canadian Shoppers now." Some malls are using special deals to lure Canadian customers back. The deals range from gifts, to at-par exchange. Some start this Victoria Day weekend.|