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The main players in the direct mail advertising market are RR Donnelley, Valassis, Dai Nippon, Harte Hanks, Quad / Graphics, Cenveo, Hibbert, Gunderson Direct, Greetabl and SaasMQL. The global direct mail advertising market is expected to grow by $ 66.
New York, January 04, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Direct Mail Advertising Global Market Report 2020-30: COVID-19 Growth And Change” – https://www.reportlinker.com/p06001457/?utm_source=GNW
$ 84 billion in 2019 to $ 67.34 billion in 2020 at a compound annual growth rate (CAGR) of 0.75%. Direct mail volume declined in the first quarter, however, the COVID-19 outbreak favored this market as some of the biggest brands adopted direct mail advertising during the lockdown period. The pandemic has resulted in restrictive containment measures involving social distancing, remote working, and the shutdown of industries and other business activities. With consumers staying at home for the past several months due to the pandemic, direct mail has become a marketing strategy to reach consumers at home. The market is then expected to reach $ 70.66 billion in 2023 at a CAGR of 1.62%.
The direct mail market includes the sales of direct mail services and related products by entities (organizations, sole proprietorships and partnerships) that create and manage mail advertising and promotional activities. The content and mode of advertising can be customized according to the target audience. Only goods and services traded between entities or sold to final consumers are included.
Asia-Pacific was the largest direct mail advertising market region in 2019. It is expected to remain the largest region during the forecast period.
Direct mail advertisers are using augmented reality to modernize direct mail advertising. Augmented reality is a huge engaging medium and it creates more opportunities that can make direct mail interactive. For example, EE, a mobile network operator, used Blippar’s augmented reality technology to enrich their paper invoices so customers can scan inserts with the Blippar app to learn more about the services EE provides, and also watch exclusive videos in augmented reality. Augmented reality enabled invoices captured an average of 3 minutes of downtime per customer and knowledge of EE’s product line.
The Direct Mail Advertising market covered in this report is segmented by Type into Postcards; auto-senders; letters and envelopes; dimensional envelopes; catalogs.
The high cost of direct mail advertising is expected to limit the growth of direct mail advertising market. For example, for a small business with a small marketing budget, a direct mail campaign can come at a high cost. Direct mail costs include the cost of postage, professional printing, the cost of design, and the costs of hiring the services of a professional copywriter to create a persuasive message. In addition to this constraint, direct mail is viewed as spam by consumers. According to one study, more than 90 percent of direct mailings are thrown away without opening or reading. Therefore, to reach the customer with mail, the mail sent must be creative, and to create such mail, the cost increases. The high cost of direct mail advertising is hampering the direct mail advertising market.
The benefits associated with direct mail advertising have contributed to the growth of direct mail advertising market. The main benefits associated with direct mail advertising include high read rate, response rate, and personalization. The tangible benefits offered by direct mail, along with the ability to deliver personal and special messages to target customers, build customer confidence. Additionally, direct mail tends to have a longer shelf life than email or digital marketing. According to Postary (Postcard Marketing & Direct Mail Platform), the average response rate for direct mail is around 2.7% – 4.4%, while email has around 0.6%, which is comparatively very weak. The average open rate ranges from 57.5% to 85%, and the average ROI is $ 4.09 (£ 3.22) for $ 1.27 (£ 1) spent on direct mail. These direct mail advertising benefits are driving the direct mail advertising market.
Read the full report: https://www.reportlinker.com/p06001457/?utm_source=GNW
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