The industry is already feeling the pinch, so to speak, because of what's happening in the U.S., for several reasons. One of them is that the manufacturers that retailers depend on in Canada, regardless of whether they're Canadian based or foreign owned, developed over the years a very lucrative export market in the United States, and that allowed retailers to purchase their goods in Canada at more competitive pricing because of economies of scale.
So we've already started with contingency plans because we realize that those manufacturers who now have 75% of their business in the U.S. and are losing it because their prices are too high will not be able to provide competitive prices in Canada. So we suspect that in the next couple of years we will see more retailers go offshore to try to find competitive pricing.
Number two, there's some great concern with regard to opening new stores and expanding throughout the country in light of the fact that retailers are concerned that consumers may lose their jobs. They may not feel as confident as they have in the past.
I have to be honest, though. Retailers generally are a very optimistic lot, but most of the large employers in retail are very much aware of the problems in the U.S. and those impacts in Canada. So to answer your question, they have a plan A, which is caution, a plan B, which is optimistic, and right now they're riding a bit more on the caution.