Print Statements and Bills Still Favored by Many U.S. Consumers
January 2012 – A survey of more than 5,000 US households found that 71% of consumers open print financial statements and bills mailed to them, and 65% said they actually preferred to get a print copy of their bill or statement.
The 2011 survey, conducted by Phoenix Marketing International, also found a portion shows no inclination to change-- approximately 25% of households don't do electronic payments of any kind.
PMI President LeonMajors is quoted as saying that massive identify theft is slowing consumer interest in shifting exclusively to online bill paying. "The more security breaches there are the more people prefer paper," he said. "Currently 37% of all respondents said mail was still their primary method of paying bills and that's 38 million households who prefer mail to pay bills." For customers aged 50 and up, the percentage is higher, Majors added.
There was also some good news for the check printing industry: Despite predictions that checks will soon become completely obsolete, Americans still wrote 25 billion checks in the prior year.
Source: Target Marketing, Why Are U.S. Marketers Sleeping on Transpromo?, January 6, 2012.