The Read | Behind the Business
New Prices. New Currency. New Year.
Welcome to 2014! To ring in the New Year, we made a change: all prices on PoppyBarley.com are now stated in US Dollars (USD). Being transparent is a core value to Poppy Barley. Beyond taking you inside our studio, we honestly share the “why” behind many of our decisions. So why did a Canadian company switch to pricing in USD? Let me explain. 1. Changing customer base When we opened in 2012, 95% of our customers were Canadian. In 2013, we saw this shift dramatically with more customers coming from the US, Europe and beyond. USD is a global currency; its value is understood worldwide. People (and our customers) are far less familiar with the Canadian currency. 2. Currency Fluctuations We are an international business working constantly in three currencies: Canadian Dollar, USD Dollar and Mexican Peso. Most of our expenses are in USD. By streamlining our currencies, we reduce our exposure to currency risk due to the floating exchange rate system. 3. What about us, your loyal Canadian shoppers? We hear you! And, you’re very important to us. As we made the change to USD, we also lowered our prices from $475 to $450 across all boots. While you will be charged in USD, the end price will be comparable for you. 4. Help! I received a gift card issued in CAD. If you purchased (or received) a gift card in CAD, your gift card was converted to USD for the full value of the original purchase. For example, if you purchased a $450 CAD gift card, the value as of January 1, 2014 is $450 USD. If you have any other questions about our new pricing in USD, I invite you to ask a question below in the comment section. I will respond to all questions. Thank you for your continued support - 2014 will be a spectacular year!