Trends in consumer preferences are important metrics for businesses of all shapes and sizes to stay aware of, and one excellent resource is the U.S. Postal Services’ annual Household Diary Study survey. Operating continuously since 1987, this report is a rich source of information about how households use the mail as well as how that use is evolving over time.
Not surprisingly, the recently released FY 2023 survey indicates that consumers are paying more and more bills electronically. In 2023, while an estimated 9.1 billion bills were received by mail, 80 percent of those bills were then paid electronically. This survey marked the first time more than half of all household payments (51 percent) were paid online, while the share of payments made by mail fell to 15 percent, its lowest point to date. Additionally, almost all of U.S. households made at least one payment electronically, and more than half (53 percent) did not make a single payment by mail.
While it’s clear that electronic payments are becoming an increasingly popular way for consumers to pay bills, it’s interesting to consider the importance mail still has. In 2023, households received a total of 12.6 billion bills and statements by mail, which accounted for 39 percent of all First-Class Mail received by households. While the vast majority of these bills were paid electronically, 15 percent were still paid by mail. Clearly a significant number of people still want that paper bill, and many households continue to prefer mailed payments over electronic payments.
For businesses, the takeaway is that paper transactional communications remain valuable even in a world dominated by digital interactions. It still makes sense to offer customers mailed statements, and to appeal to customers who prefer to pay bills electronically, companies should include a digital method such as a QR code or payment website to simplify the process.
Getting the Most out of Paper Bills
An additional angle for marketers to consider is the branding opportunities presented by paper bills. Unlike email, which is typically intended for and viewed by only one recipient, paper mail goes through many hands, including the post office workers who sort and deliver it, the recipient and other household members. Think of mail like a catalog or billboard, and not just a vehicle to deliver a bill.
Matrix has been experts in transactional mail for decades, and we can help you create paper bills that are functional and eye-catching. Our experienced team can customize designs, add attractive graphics, utilize creative envelopes and even include personalized messaging and inserts to optimize response rates.
