Report: 25% drop in financial services direct mail
Financial services direct mail volume for 2008 fell 25% from 2007 levels, according to a report issued today by Mintel Comperemedia.
For the first 11 months of 2008, the direct marketing tracking firm estimated financial services direct mail volume at 10.3 billion. In 2007, Mintel estimated that volume at 13.9 billion.
Furthermore, when compared to the same period of 2006, the 2008 11-month total shows a 32% decline, according to the report.
Mintel estimates the number of credit card offers sent to new customers dropped 24% last year. Mortgage and loan mail fared even worse, as lenders reduced acquisition volume by 37%.