Storage Facilities Research

Goals

To obtain information about storage units, including consumer dislikes/pain points, storage duration, common items stored, and when items are stored the most.

Early Findings

  • According to Life Storage, the top 7 reasons why people use storage include the following: to reduce or eliminate the stress of moving, to create more free space at home, to ensure that vehicles are safe during offseasons, to store belongings for a loved one, to empty dorm rooms during summer, and to make sure business inventory stays organized.
  • The Motley Fool reports that the storage industry generates $38 billion annually. This yearly revenue is obtained from "1.7 billion square feet of rentable space".
  • Curbed reveals that one out of every 11 Americans spends $91.14 on average monthly to use self-storage.
  • Despite demographic shifts and recessions, few types of buildings have flourished like self-storage lockers.
  • Data from SpareFoot reveals that the United States has over 50,000 storage facilities.
  • Over the last few decades, the storage industry has flourished because Americans are relocating and baby boomers are downsizing. Also, small businesses need space to store excess inventory.
  • According to the spokesman for Extra Space Storage, Jeff Norman, surveys have shown that “people rent a storage unit for approximately twice as long as they believe they will.”

Proposed next steps:

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