New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Direct Mail Advertising Global Market Report 2023" - https://www.reportlinker.com/p04442212/?utm_source=GNW
Major 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 will grow from $74.65 billion in 2022 to $76.95 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The direct mail advertising market is expected to grow to $84.72 billion in 2027 at a CAGR of 2.4%.
The direct mail advertising market consists of revenues earned by entities by providing services such as creating and designing advertisement and promotional activities campaigns for the purpose of distributing advertising materials (e.g., coupons, flyers, samples) or specialties (e.g., keychains, magnets, pens with customized messages imprinted) by mail or other direct distributions. The content and mode of advertisement can be customized according to the target audience. These establishments may also compile, maintain, sell, and rent mailing lists. The revenues earned by distributing and delivering advertisements, such as sample products, door-to-door promotion, placing brochures and flyers are not included in this market. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Direct mail advertising is the process of direct marketing in which the mail is physically delivered to a prospect’s mailbox via postal services or other delivery services which uses a broader messaging style and targets a larger customer base.
North America was the largest region in the direct mail advertising market in 2021.Western Europe was the second largest region in the direct mail advertising market.
The regions covered in the direct mail advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of direct mail advertising are postcards, self-mailers, letters and envelops, dimensional mailers, and catalogs.A self-mailer is a piece of promotional material that is sent without an envelope.
It might range from a simple postcard to a detailed brochure or catalog. Retail, banks and financial institutions, commercial buildings, media and entertainment, government, and transportation all use direct mail advertising services.The different sizes of enterprises include large enterprises, as well as small and medium-sized enterprises.
The benefits associated with direct mail advertising contributed to the growth of the direct mail advertising market.The major benefits associated with direct mail advertising include high read rate, response rate, and personalization.
The tangible benefits that direct mail offers along with the facility that personal and special messages can be delivered to the target customers, builds trust in customers.Also, direct mail tends to have a longer shelf life than email or digital marketing.
According to the Postary (Postcard Marketing & Direct Mail Platform), the average response rate of the direct mail is around 2.7% - 4.4%, while the email has around 0.6%, which is comparatively very low. The average open rate varies between 57.5% – 85%, and the average return on investment is $4.09 (£3.22) for $1.27 (£1) spent on direct mail. Such benefits from direct mail advertising drive the direct mail advertising market.
The high cost of direct mail advertising is expected to limit the growth of the direct mail advertising market.For instance, for a small business operating on a small marketing budget, a direct mail advertising campaign can result in high costs.
Direct mailing costs include the price of the postage, professional printing, design cost, and costs for hiring services of a professional copywriter to create a persuasive message.In addition to this constraint, direct mail is considered junk mail by the consumers.
According to a study, more than 90 percent of direct mails are tossed away without opening or reading.Therefore, to reach the customer with mail, the mail sent should be creative and to create such mail, the cost increases.
The high cost of direct mail advertising hinders the direct mail advertising market.
Direct mail advertisers are using 3D mail campaigns to modernize direct mail advertising. 3D direct mail campaigns are interactive as well as provide a visual media experience to the target customers. For instance, in March 2021, R.R. Donnelley & Sons Company), a leading global provider of marketing and business communications, announced the launch of a portfolio of 3D solutions to assist manufacturers and retailers in creating rich user experiences and accelerating time-to-market. RRD’s end-to-end 3D suite, which enables simulations and digital prototyping that maximise the potential of augmented reality (AR) and mixed reality, is designed to utilise the power of emerging technologies such as 5G and spatial web for the Internet of Everything (IoE) (MR).
The countries covered in the direct mail advertising market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The direct mail advertising market research report is one of a series of new reports that provides direct mail advertising market statistics, including direct mail advertising industry global market size, regional shares, competitors with a direct mail advertising market share, detailed direct mail advertising market segments, market trends and opportunities, and any further data you may need to thrive in the direct mail advertising industry. This direct mail advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p04442212/?utm_source=GNW
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