Courtesy of the folks at Internet Retailer Magazine, read the article here.
You are seeing a parting of the sea when it comes to multichannel marketing.
Retailers like Saks, Bloomingdales, Nordstrom, and Neiman Marcus de-emphasized or eliminated catalog marketing --- and can do so because the interaction between retail and online channels allows them to generate a high organic percentage.
The traditional cataloger, without the benefit of retail, struggles, because as catalog dies a slow death, there isn't a channel that has achieved critical mass, ready to supplant catalog advertising. We may never find one or two channels to replace catalog marketing. We will need to find one hundred tiny micro-channels that, collectively, replace a dying advertising channel.