TORONTO--(BUSINESS WIRE)--Compared to US consumers, Canadians are bearing the brunt of higher prices on most in-demand electronic devices this Holiday Season, according to a new GfK analysis.
Click here to download the full list of Canada vs USA price comparisons on same items - Promotion & Causal Retail (Print Advertising Dec. 1-11, 2014)
Shoppers in the United States are paying significantly less for items such as televisions, tablets, and wearable technology, while Canadians are paying less for printers and multifunction devices, according to GfK’s comparison of advertised prices for electronic goods published between December 1 and 11, 2014. The analysis covered key categories for holiday bargain hunters, including
- Televisions – 88% of the items had better prices in the US, averaging 27.7% savings
- Digital Cameras – 55% of SKUs had better prices in the US, averaging 4.4% savings
- Home Theatre Systems – 80% of the items were available for less in the US, averaging 7.6% savings
- Tablets – 100% had better prices in the US, averaging 20.5% savings
- Wearable Technology (smart watches, fitness bands) – 80% of SKUs had better prices in the US, averaging 13.4% savings
- Printers & Multifunction Devices – only 18% of items had better prices in US– Canadians can save an average of 14%
Click here to download the full list of Canada vs USA price comparisons on same items - Promotion & Causal Retail (Print Advertising Dec. 1-11, 2014)
“These cross-border pricing discrepancies are consistent with trends we have seen throughout 2014,” said James Kennedy, Country Manager for GfK’s Consumer Choices division in Canada and Managing Director of its Promotion and Causal Research team in North America. “Canadian consumers continue to pay more than US consumers on high-demand electronics goods, whether it is Holiday Season or the middle of summer.”
A look at annual trends shows that the premium Canadians pay for televisions has nearly doubled since 2011, from 13.2% then to 24.4% in 2014. The Canadian premium for tablets has been largely consistent (9.7% in 2011 versus 9.2% in 2014); and prices for digital cameras are now essentially the same in the US in Canada, with Canadians paying 2.8% more (compared to 10.4% three years ago).
The GfK analysis comes at a time when the federal government has been seeking to enforce competitive pricing for products sold in Canada through its Price Transparency Act, putting pressure on retailers. The retail pricing comparisons found in GfK’s newest survey show that Canadian consumers are still paying much more for a large variety of goods compared to their US counterparts -- sometimes as much as 71.5% in the television category.
About GfK
GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers’ experiences and choices.
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