I found the same thing happened here in Australia when I compared the prices on borders.com.au and kobobooks.com - even though the kobo store knew I was in Australia and the kobo prices were in AUD$ they were often (but not always) much much cheaper than Borders.
Now I just shop around and buy my books from the cheapest source and use ADE to load them onto the my Kobo. Sometimes that cheapest source is Amazon and so then I need to use Calibre to convert. But it's not consistent - you do need to check prices.
An example Lee Child's latest Jack Reacher book The Affair (prices all AUD$) $9.99 at Amazon, $10.00 at Kobo, and $23.00 at Borders. I used a 20% off code and got it for $8 at Kobo.
The latest John Grisham The Litigators was $9.99 as a preorder at Amazon and is now $13.40, but at Kobo it is $29.99 - even the 30% off code I was hoping to use isn't worth it there - and I'm kicking myself for cancelling my preorder. Borders don't even have it listed.
Can you log in directly with kobobooks.com? It could be worth it.
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