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Welcome to Canada, home of the over converted SRP and constantly fluctuating dollar. As we’ve all heard by now, the Canadian dollar is hovering at par with the US and publishers of comics, magazines, books and more choose not to either A) adjust their cover prices or B) just remove them all together. I guess it’s better to look silly than professional.
Many blogs and columns have addressed the issue with a lot of people who aren’t in the know trying to speculate why publishing houses are doing (or, more acurately, not doing) when it comes to cover prices. I won’t go there cause the only people that can answer that are the head honchos at Marvel, DC, Random House and more and currently, they refuse to do so. What I will touch on is what the people on the front line ARE doing about it.
In Edmonton about 3 weeks ago, a BIG news item came out talking about how Audrey’s Books was now charging the US cover price instead of the Canadian. A nice gesture, sure but not without it’s flaws.
First, they didn’t institute this policy until the dollar actually touched par. Why didn’t they feel the need to not overcharge customers when 3 weeks earlier the dollar was sitting at 1.04? Was the 4 cents too much to lose? Hard to image when you’re charging cover prices based on a 1.35 exchange rate. So, even though it was too late in the game they manged to get some media attention and look like darlings. (And I’m not meaning to pick just on them, many businesses did this - car and applicance dealers, etc. - but Audrey’s got a lot of media attention over it.)
The second issue is how they and several other businesses have decided to just start charging people the US cover price, basically giving people this huge discount against what they were paying the week previous (even though the week previous the dollar was only about 2 cents more costly). Again, a nice gesture but what happens in a month or 6 time when the dollar drops again? Will these stores just flip back to the overinflated Canadian price? Probably except the issue then becomes that the covers prices won’t be adjusted properly and stores will be taking a loss.
Charging the US price is a short term solution that only plays customers like a yo-yo which is why HH, who started discounting Cnd cover prices more than a year earlier, has adopted the policy of pricing all of their product based on the exchange rate they are billed at by their US distributors. Pepole pay what we pay. That seems fair.
And for full disclosure, this was not a concept we came up with. Kelly Dowd, owner of Red Skull Comics in Calgary, began this policy back in 1998, when the dollar was in the gutter and it was a gamble since he was then charging more for many books. Most publishers wouldn’t price comics with the actual Canadian exchange rate becasue it was so high. So if the dollar was sitting at 1.65, they would use 1.5 in hopes to keep more customers. Sadly, this cost retailers money but Kelly discovered that if you have a good store and your prices are fair and honest, it won’t matter what the price tag is, people will still come and buy from you.
So thank you Kelly for helping us help the Geeks of the world. Well, at least the Geeks in the Edmonton area.
* First Rant in a while and I’m a bit dreary so my apologies if this lacks it’s usual venom.