Addressing envelopes

I have to admit that the Mail Merge is one of my favorite options in MS Word and I often use it when I need to send a group of emails or address a large number of envelopes. It is enough to import the contact list and the addressing process is completely automatic. Can something like this be done in Excel as well? Yes, there is an easy way to do that, and you will find out how to achieve this in the text that follows.