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Resurgence of Catalogs
Eighth, any economic downturn will drive consumption out of traditional retail stores and into the efficiency of e-tail. An economic downturn is near, and I believe it will be devastating to the massively overbuilt retail infrastructure. The survivors in the inevitable bear market will be the experienced catalogers in partnership with the experienced e-tailers. Pure-play brick-and-mortar retailers have never been more vulnerable; pure-play e-com has never been more vulnerable; only the symbiotic catalog/e-com blended operation has an advantage in a future cyclical economic downturn.
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Donald R. Libey
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