Direct Mail Volume & Trends Report: Q1 2024
Early direct mail volume data from Competiscan shows marketers mailed more than 5.6 billion pieces in the first quarter of 2024. According to USPS, marketers are continuing to lean into mail as a key growth channel despite expected dips in volume from Q4.
This Quarter’s Direct Mail Volume & Trends
The mortgage/loan industry was Q1’s top mailer, accounting for 18.8% of total direct mail. Insurance is close behind, mailing 15.2% of this quarter’s pieces. The credit card industry rounds out the top three with 15.1% of the quarterly volume.
“Mail volume is down YOY and QOQ for the industry, but that’s not necessarily a bad thing,” explained Patrick Carroll, Director of Strategy at SeQuel Response. “Less mail in the mailbox of consumers usually means better performance for those who stick with it. We’re seeing the legacy industries (Loan/Insurance/Credit Cards/Consumer Services) continue to invest and it’s paying off with higher response rates.”
In the first quarter of 2024, marketers ramped up their targeting efforts during economic recovery. Consumer mailings are up by 22.4% YOY, and retail brands embraced self-mailers with a 5% increase from 2023’s first quarter. Energy and telecom industries also demonstrated strategic moves to engage customers and seize market opportunities with yearly increases of ~4%. Investment brands focused on upselling, with a 9% YOY rise in upgrade/cross-sell mailings.
A closer examination of Q1 direct mail trends shows marketers’ deliberate efforts to enhance engagement. Nearly 10% more mailers included personalization, and response mechanisms were driven by an increased appeal towards QR code technology.
The infographic below shares additional information on Q1 2024 direct mail performance.
You can find more direct marketing resources and industry insights on our blog, including election-year mail insights, and tips on how to plan your direct mail budget.
Data provided by Competiscan, May 2024
*Volume projections are based on a stratified sampling scheme that ensures a balanced calculation, representative of the US Census across different age groups, geographical locations, income levels, and home ownership status.