InfoTrends US Study Forecasts 8.6 Billion Consumer Bills and Statements Will be Paperless in 2017

The transactional communications market—including bills, statements, legal notices, letters, payment due reminders, and confirmations—continues to evolve due to changes in consumer behaviors, business policies, as well as advancements in technologies and services. In addition to its ongoing coverage, InfoTrends has spent the last five months exploring this market to understand how bill and statement providers, service bureaus, technology vendors, and other key stakeholders can keep pace with a rapidly evolving market that is becoming increasingly digitally-oriented.

As a result of 2,025 consumer surveys, 267 business surveys, and more than 20 in-depth interviews with key stakeholders in the transactional communications value chain, InfoTrends expects that 8.6 billion bills and statements (35%) delivered to consumers in the U.S. will be paperless in 2017.

“Bills and statements  are opened and read more than any other business communication,” commented study director Matt Swain. “As consumers increasingly interact with their providers on the Web, via mobile apps, through e-mail attachments, and using consolidated channels, it is critical for providers to have a multi-channel communications strategy that optimizes print and electronic channels.”

Study objectives for The Future of Multi-Channel Transactional Communications in the U.S. include:

• Pinpointing behavioral and attitudinal shifts among consumers

• Identifying business strategy shifts within key vertical markets

• Supplying an overview of key providers in the network

• Sizing the business-to-consumer delivery market and forecasting its growth through 2017

• Providing alternative scenarios and strategy recommendations

Click here to view some of the recommendations that came out of the study.