Direct Mail Volume & Trends Report: Q3 2024
Following a steady first half of 2024, direct marketers mailed 6.4 billion pieces in the third quarter, bringing the year’s total direct mail volume to over 20.3 billion pieces. While direct mail volume is trailing 2023’s levels by over 1.5 billion pieces, this gap is primarily in the mortgage and loan sector, where high interest rates continue to challenge growth.
This Quarter’s Direct Mail Volume & Trends
The credit card industry was Q3’s top mailer, accounting for 18% of total volume. Many credit card issuers leaned on cash-back rewards, while some shifted to traditional banking products to capture demand for high-yield savings accounts. Consumer services followed close behind with 15.6% of Q3 mailings, and mortgage & loan made up 14.6%. Retail rounded out the top mailers at 13.3% of this quarter’s total volume.
“Although this year’s numbers reflect a shifting economy, we’re seeing resilience in key areas,” says Patrick Carroll, Director of Strategy at SeQuel Response. “The fourth quarter should be particularly interesting, as it’s typically a peak window for insurance and retail mail. The election might cause some marketers to pause, but the appetite for personalized messaging should still be strong enough to drive solid performance.”
A closer examination of Q3 direct mail trends shows consumer services and travel brands taking charge, with 41% and 28% volume increases, respectively, when comparing 2023 vs 2024 totals. The use of digital URLs (used in 45% of mailings) and QR codes (9%) held steady, indicating ongoing demand for digital-friendly formats that streamline engagement. This quarter also reflects a shift from retention to acquisition, as upgrade/cross-sell mailings dropped 10% from Q3 2023, which signals a stronger focus on market expansion. To make a memorable first impression on prospects, 66% of Q3 mailings were personalized, a 5% increase from last year’s third quarter.
The infographic below shares additional information on Q3 2024 direct mail performance.
You can find more direct marketing resources and industry insights on our blog, including how to optimize your direct mail budget, and our most recent direct mail report.
* Data provided by Competiscan, November 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.