It is interesting to think about when or whether corporate consolidation is a strength for Canada or an opportunity. You could argue that having fewer large companies allows government to more quickly consult with them or get their views, but in terms of business practices and coordination, in markets of all sizes, what we see is that the small and medium-sized players tend to mimic and adopt practices the larger ones have. They may set the pace or set the bar for how AI is used.
Actually, data and information as a competitive advantage is something we haven't been able to grapple with through our competition law and really appreciate what that means for barriers to entry for new markets coming to Canada, such as when Canada potentially explored having a new grocery store. Remember that we did that very Canadian thing: We just asked really nicely.
There are lots of reasons for that. Part of it is geography and real estate. Many large grocers are also in the real estate business, fundamentally. We also saw this with, say, the Bay. The former CEO of the Bay said they were actually not a retailer; they were a real estate company. Through loyalty programs and the information profiles they have on us, it allows them to—again, you could argue—manipulate or set markets in particular ways. Maybe it makes it easier for them to control markets.
