Self Storage – Who Uses Them and Why?

modern self storageThe self storage industry, like many others, produces an annual report. This gives substantial insights into the sector.

According to the industry’s trade association, the rise of self storage facilities in the UK continues to grow. In 2016, the trade could boast approximately 37.6 million square feet worth of storage available. That’s a five per cent rise in the last twelve months alone.

Despite the additional capacity, the market for commercial flexible storage space remains buoyant. Meaning a number of the big suppliers have seen upturns in their revenue streams. This means that increasingly people are using self-storage as a preferred option. Demand has therefore driven expansion.

But who are these people?

Who is a Typical Self-Storer?

One of the fascinating things about the self storage phenomenon in Britain is that the industry has maintained growth. Year-on-year, even through the global economic crisis, storage is in high demand.

For many people the convenience of self storage has become a part of their daily lives. Vast numbers of users of self storage facilities are hanging on to items and keepsakes. Perhaps waiting for a move to a larger home, or maybe just to pass down to future generations.

Given the self storage industry in the UK now occupies as much square footage as the entire UK McDonald’s restaurant space. So, home occupiers with insufficient storage space cannot be the entire story.

The 4 Ds

Bride and groom figurines standing on two separated slices of wedding cakeIn fact, the industry refers to four principle groups of consumers using its services as the fours Ds. This is because a significant number of people who make use of self storage companies are doing so due to divorce, downsizing, death or dislocation. Relationship breakdown can be a traumatic experience, but finding somewhere suitable to live and move on to is not always easy given the much-reported housing crisis. Self storage simply fills the gap for many domestic items whilst people find a new place to live.

Equally, downsizing or moving to a new area for work, even if it is temporary, means that many people seek to hold on to their belongings in storage rather than put them up for sale or give them away. Perhaps they expect to return to them later?

Lastly, the death of a loved one can be problematic for some people to deal with in the immediate aftermath, so a temporary storage solution is sought to tide them over.

All manner of personal belongings go into self storage units as a result of the four D’s. They include things as diverse as clothing to personal collections and from bulky furniture to simple nick-nacks.

Rise of a New Self-Storer?

In addition to this group of people, one of the latest trends in the industry is among entrepreneurs who use self storage to keep their items for sale.

Rather than leasing an expensive office or business unit, self storage allows them flexibility and instant access in order to fulfil customer orders when needed.

Growth is Set to Continue

Having said that, the industry has principally grown as a result of the changing nature of British society in the last couple of decades. More people than ever before live on their own without families. This means self storage will continue to have a place as their lives continue to evolve and change.

Furthermore, the size of modern day homes is shrinking with fewer storage options for renters and homeowners alike. Options like double garages and gardens that are large enough to accommodate storage sheds, are now less common. So, self storage units will continue to provide this requirement for several years to come.

Need Some Help with Storage Rental?

If you need to find a provider of flexible business storage space, then why not contact a professional company like Flexspace? We have facilities across the country at very competitive rates.

Just call 0800 033 4444 and find out whether your next storage is nearer than you think!

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