Jiminy Christmas! | Canadian Pricing Ripoff

Last updated on August 5th, 2012 at 05:00 pm

I picked up the Green Lantern Omnibus Volume 1 this weekend at a discount bookstore.  I was shocked a just shipped item could be discounted more than 50% its first week but that’s another story.  Anyway I checked the printed price on the back of the book: $75 U.S. and $88 Canadian.  Say what?  For some reason DC feels the U.S. dollar is worth $1.175 Canadian.

2010 – Canadian Dollars to 1 USD (invert)
Average Rates
January
1.0427 CAD   (20 days average)
February
1.05611 CAD   (20 days average)
March
1.02363 CAD   (23 days average)
April
1.00447 CAD   (21 days average)
May
1.03967 CAD   (21 days average)
June
1.03819 CAD   (22 days average)
July
1.04334 CAD   (22 days average)
August
1.03991 CAD   (21 days average)
September
1.0344 CAD   (22 days average)
October
1.01833 CAD   (21 days average)
November
1.01203 CAD   (21 days average)

Here’s a nice chart of the Canadian dollar for 2010: as you can see the worst it’s been was in February at $1.056.  Looking back to find a rate close to what DC is using took us to June 2009.  Hmm, is DC privy to something about the Canadian economy the rest of us aren’t?  Is Madame Xanadu using “voodoo economics” to determine the printed price on DC books?

I started to look at other books I had handy.  Madame Xanadu Volume 2 published in February 2010 has a $12.99 U.S. $15.99 Canadian cover price, putting the U.S. dollar at $1.23 Canadian. November 2010 DC and Marvel hardcovers have been priced at $24.99 U.S. and $27.99 Canadian, U.S. dollar at $1.12 Canadian.  It seems reasonable but still more than double the actual rate.

For a long time Canadian retailers were in support or at least quietly ignored the fact that printed exchange rates were ridiculously high: the extra money contributed to their profit.  You see, most comic books are purchased through Diamond Comic Distributors whose inventory and ordering is all in U.S. dollars.  Canadian retailers get a total in U.S. and then Diamond converts that into Canadian; they like to add a few points for their trouble.

This came to a head in 2009 because DC and Marvel decided to have the same U.S. and Canadian cover price.  Since Diamond was adding a few points on the orders Canadian retailers were now losing money on the exchange rate.  The big publishers then decided to remove the Canadian printed price all together and leave it up to the retailer to determine price: the local comic shops I visit decided 10% was going to be their markup with a round-up to the next dollar, giving themselves a little extra profit.  Now a Canadian price is appearing on DC and Marvel material again; pretty much every other publisher just has a U.S. price.

Don’t think it’s only brick and mortar stores.  Amazon.ca and Chapters.ca use vastly different exchange rates when left to their devices.  Let’s use Torpedo Volume 2 from IDW as an example: it’s $24.99 U.S. cover price, with Amazon.ca listing it as $31.99 Canadian and Chapters.ca as $26.50 Canadian.  They both apply a discount but that’s their cover or list price.  Amazon must use the same magic eight ball as DC while Chapters is using an actual exchange rate: shocking.  The same pricing applies to Adele Blanc-Sec Volume 1 from Fantagraphics, with the same exchange rates.  Book Depository lists them as $25.24 Canadian.  Hmm: a British retailer selling to Canadians has the most accurate exchange rate.

I’m giving retailers a hard time with their liberal views on exchange rates but most comic shops offer a discount to subscribers, keep shelves well stocked and provide customer service: all that costs money.  I’m officially off topic, but it’s good to question store pricing and exchange rates: keeps everyone honest.  If you don’t like how the store handles it shop elsewhere; speak with your money.

Marvel and DC take note: don’t put a Canadian price on your trade paperbacks and hardcovers.  You’re not good at the basic math required to calculate the exchange rate so leave it for the Canadian retailers.

Scott VanderPloeg Written by:

Editor-In-Chief. Scott works in I.T. but lives to eat and read. His other ramblings can be found at eBabble. Art collection at Comic Art Fans. Joe Shuster Awards Harry Kremer coordinator.

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2 Comments

  1. Marc
    December 1, 2010

    Scott,

    On books with no printed CDN cover price, the CDN distributors set the CDN price, not the retailers. They will actually sticker right on to the books.

    And if you thought the pubs were bad, you’d pull out your hair at the distributors. I have seen +50% on brand new items when the exchange was +5%. I am receiving some product from Diamond 1 week later and at a lesser discount than I would from CDN distributors because the net cost per unit is still significantly cheaper through Diamond, even with free freight factored in from the Canadians!

  2. December 2, 2010

    That’s true of books distributed in Canada through Canadian wholesalers: my focus here was comic books distributed in Canada through Diamond.

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