Looks to me that likely candidates are population size and age of the country.
Having only 35 million people spread across one of the largest countries in the world makes it difficult to spawn consumer and retail conglomerates. Nintendo and Sony excelled in part because Japan was a perfect playground for testing personal technologies. Walmart had 300 million customers, 90% of which live in extremely developed locations, which allowed for retail stores to spread quickly and profitably across the states.
Further, having a history of less than 50 years means that less sustained activity has likely been driven from within Canada as opposed to from overseas. Given the choice of where to locate, a tycoon from Toronto had the choice of working out of London.
Having only 35 million people spread across one of the largest countries in the world makes it difficult to spawn consumer and retail conglomerates. Nintendo and Sony excelled in part because Japan was a perfect playground for testing personal technologies. Walmart had 300 million customers, 90% of which live in extremely developed locations, which allowed for retail stores to spread quickly and profitably across the states.
Further, having a history of less than 50 years means that less sustained activity has likely been driven from within Canada as opposed to from overseas. Given the choice of where to locate, a tycoon from Toronto had the choice of working out of London.