Skip to content
Subscriber Only

U.S. Shoppers Heeding Loonie's Call Flock to Canada's Websites

  • PayPal, Bigcommerce, Shopify say cross-border sales are up
  • Currency has fallen about 18 percent over past two years

It’s long been common practice for Americans to head north for bargains whenever the Canadian dollar falls meaningfully below the greenback. During the current slump, they’re doing so from the comfort of their homes by shopping online from small-time Canadian merchants.

The Canadian dollar -- the loonie -- has fallen about 18 percent against its U.S. counterpart over the past two years after flirting with parity several times in the last decade. At the same time, spending by U.S. shoppers using PayPal on Canadian websites jumped 20 percent in 2015 from the year before.