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The daily business briefing: December 8, 2020

Swedish home-furnishing retailer Ikea is eliminating its massive annual catalog, citing customers’ shift to online shopping and browsing. Ikea said scrapping the catalog after 70 years in publication was an “emotional but rational decision.” Both the print and digital versions of the catalog will be halted. “Turning the page with our beloved catalog is in fact a natural process since media consumption and customer behaviors have changed,” said Konrad Grüss, an Ikea executive, in a statement. The first Ikea catalog came out in 1951. It was published online as well as in print starting in 2000. At its 2016 peak, the company printed 200 million copies in 32 languages. The 2021 issue, released in October, will be the last, although next year the company will release a smaller book. [CNN]

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