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Thread started 22 Dec 2015 (Tuesday) 00:51
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2016 Canon Price Increase?

 
aezoss
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Dec 22, 2015 00:51 |  #1

With respect to Canada specifically and our weak dollar against USD, curious if anyone with market awareness may be able to comment on the probability of Canon increasing EOS body and EF lens prices next year.

I saw an article claiming Nikon is raising lens prices in the UK up to 30%.

Although I'm not keen to purchase based on speculation I wonder if now might be a good time to invest in another body or lens while the rebates are in effect and dodge a potential January price hike.

Lee




  
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RandallB
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Dec 22, 2015 08:02 |  #2

aezoss wrote in post #17827981 (external link)
With respect to Canada specifically and our weak dollar against USD, curious if anyone with market awareness may be able to comment on the probability of Canon increasing EOS body and EF lens prices next year.

I saw an article claiming Nikon is raising lens prices in the UK up to 30%.

Although I'm not keen to purchase based on speculation I wonder if now might be a good time to invest in another body or lens while the rebates are in effect and dodge a potential January price hike.

Lee

I believe our exchange rate with Japans Yen will have a greater impact- but I could be wrong.


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Copper ­ NYC
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Dec 22, 2015 08:50 |  #3

Even though this article is two years old and it's comparing the usd against the yen, you should be able to draw a conclusion from it.
http://www.tofugu.com/​2013/04/17/weak-yen/ (external link)


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Post edited over 4 years ago by Wilt. (5 edits in all)
     
Dec 22, 2015 09:25 |  #4

It is complex...there is the


  1. cost factor for local labor and parts and assemblies used in Japan factory
  2. cost factor for local labor and finished goods purchased by distributor from #1
  3. monetary exchange trends (upward or downward) of the local currency vs. Yen
  4. decisions to hold the local market price in spite of monetary exchange trends for market position vs. competition


These are the realities of pricing decisions faced by international companies and its international subsidiaries, and efforts (if any) to hedge monetary exchange fluations at some (sometimes planned, sometimes reactionary) interval.

...so what happens in Canada can be quite different from what happens in USA, due to Canon Canada Inc. having a very different set of factors than Canon USA Inc. for example.

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aezoss
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Dec 23, 2015 00:30 |  #5

Thanks for the replies. I wasn't certain if the US dollar had a vicarious impact on items imported from other countries into Canada. Seems that it does on some products. Got some reading to do.

Lee




  
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PhotoPrice
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Dec 23, 2015 06:17 |  #6

aezoss wrote in post #17829407 (external link)
Thanks for the replies. I wasn't certain if the US dollar had a vicarious impact on items imported from other countries into Canada. Seems that it does on some products. Got some reading to do.

I'll jump in here and say that I fully expect a Canon price increase in Canada in the new year, if the Canadian dollar stays where it is relative to the US dollar. I'm actually surprised one hasn't happened already.

I think I qualify as someone with market awareness. :-)




  
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Wilt
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Post edited over 4 years ago by Wilt. (8 edits in all)
     
Dec 23, 2015 09:58 |  #7

PhotoPrice wrote in post #17829518 (external link)
I'll jump in here and say that I fully expect a Canon price increase in Canada in the new year, if the Canadian dollar stays where it is relative to the US dollar. I'm actually surprised one hasn't happened already.

I think I qualify as someone with market awareness. :-)

IMAGE: http://i69.photobucket.com/albums/i63/wiltonw/POTN%202013%20Post%20Mar1/currency2_zps4x7yupws.jpg
chart from oanda.com

Yen buys more Canadian dollars than it does a year ago, a change of 17.5% based on today's rates vs. last year, so if Canon Japan prices in Yen for Canon iDx remain fixed at 500K yen, for example, the price should return more Canadian dollars to Japan. If the Canada MSRP were simply floated against the Yen, columnE in the chart (at the end of this post) shows what the Canadaian MSRP should have been at Xmas of each year.

Compared to two years ago, The CAD is 12% different, but compared to three years ago, the CAD is only very slightly different -- 2% in the other direction -- from its value against the Yen at Christmas time 2012. So one question is, when was the last time Canon Canada had a price adjustment (vs. the Yen) and also, what has it done since then?

The situation in USA has changed much more dramatically, compared to Canada over the past three years , so I would say it is more likely for Canon USA to make a currency based pricing change than the likelihood for Canon Canada to do so as well -- but that really depends upon when the last product pricing adjustment was made! And again, that also depends upon what happened in Japan to the cost of raw materials, finished components, and labor in Japan to make the cameras.

Here is what happened over the past 5 years.

IMAGE: http://i69.photobucket.com/albums/i63/wiltonw/POTN%202013%20Post%20Mar1/currency_zpsduvolpw4.jpg
chart from oanda.com

But if we assume instead, that Canon Canada set 1Dx prices in Canada for CA$8400 st launch and later adjust the CAD MSRP for the exchange rate, the chart shows the number of Yen returned to Japan for each camera sold (assuming every 1Dx sold to a consumer had local costs subtracted for duty as well as COGS), columnF shows how much money was returned to Japan based upon floating currency and a floating price.
IMAGE: http://i69.photobucket.com/albums/i63/wiltonw/POTN%202013%20Post%20Mar1/Canon%20prices_zpsk1msxezz.jpg

(Note that Canada MSRP is not simply a conversion of Japan MSRP, but also includes Canadian price offsets due to import duties, etc.)

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aezoss
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Feb 29, 2016 22:14 |  #8

Thanks to Melissa for posting this thread.

According to the article (external link) linked in her post:

we would like to advise our customers that on April 1, 2016, price increases due to currency value will be in effect from most of our major camera partners, including Nikon, Canon, Sony and Panasonic. They will apply to a majority of goods from these brands. Price increases are expected to range from 10-30%, possibly even higher. These increases will be reflected across ALL Canadian retail outlets selling photographic equipment

Lee




  
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bps
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Mar 02, 2016 16:43 |  #9

aezoss wrote in post #17918621 (external link)
Thanks to Melissa for posting this thread.

According to the article (external link) linked in her post:

Lee

Lee,

Thank you for bringing this to our attention and providing a link. This is bummer news for the Canadians and bummer news for us US-based customers that have been enjoying the Canadian gravy-train these last couple of years.

Thanks to CanonPriceWatch, I've saved a lot of money over the last few years by purchasing through their Street Price deals and I've enjoyed tremendous savings by buying from Canada. It looks like the great ride may be coming to an end soon.

Now I'm left with some major decisions to make between now and then. I'm considering a change-up in my lineup of camera bodies, which may also drive a change up in my super-tele department. If I decide to make these moves, then I need to make the purchases before Canon Canada raises their prices. There also has been a small rebound in the Canadian dollar over the last few weeks (5%) which is further weakening the sweet deals for us U.S. based customers as well.

I currently use the following bodies:
Canon 5DsR
Canon 5D Mark III
Canon 7D Mark II

I am thinking about going to the following:
Canon 1D X Mark II
Canon 5DsR
(selling my 5D Mark III and 7D Mark II)

If I make that shift, then I might possibly sell my Canon 500L II and purchase a Canon 600 L II. This would help make up some of the focal length difference lost when going from a crop-sensor 7D Mark II to a full-frame 1D X Mark II. I'm fully aware that the 600 II is a significant increase in size and weight versus the 500L II, but I am always using that set-up on a tripod/gimbal (or a monopod), so I'm not too concerned about the increase in weight or size. However, the 600L II already costs $2,000 more than the 500L II...and if they raise the Canadian prices, then it would likely increase the cost an additional $2,000 on top of that, so it would behoove me to make that decision before the Canadian price increase.

Just thinking out loud. Thanks for reading/listening! Time to make some big decisions over the next couple of weeks!

Bryan


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aezoss
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Mar 02, 2016 18:08 |  #10

bps wrote in post #17920985 (external link)
Now I'm left with some major decisions to make between now and then.

+1. In retrospect I was short sighted not taking advantage of the Dec/Jan rebates. I'm trying to justify a 7D2 and a couple of lenses before the increase hits.

Potentially saving $3k+ on a 600L + 1DX2 would be a strong motivator if I was in the market for them. Tough call for sure.

Lee




  
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