Study Shows Growing Need for Self-Storage Alternatives

SEATTLE—Nearly two out of three Americans surveyed now believe that lugging items to and from a self-storage unit should be a easier and would prefer to use new on-demand storage alternatives to make the process more convenient. That’s the key finding from a new consumer survey recently revealed. The new survey also revealed a growing need for off-site storage among consumers. More than half of respondents indicated a need for ‘more storage’. The survey also highlighted even stronger demand for more storage among millennials with 82 percent saying that on-demand storage would be useful to them. “The self-storage industry is booming—with record revenues and a true ‘space race’ to build more facilities to meet the seemingly insatiable consumer demand,” says Terry Drayton , CEO of Seattle-based Livible . “What our latest survey reveals is the rapidly growing preference and need for more convenient on-demand storage alternatives. Millennials and downsizing boomers—who are increasingly living urban lifestyles—are driving this.” Livible, a leading provider of on-demand storage, revealed key findings of their second national survey that asked consumers about their need for, preferences using and past experiences with off-site storage. Following are some of the key findings of the report: • Consumers Need More Storage: 55% of respondents said they need more storage; 17% said they need a lot more. • Consumers Are Ready to Try On-Demand Storage: 63% of all respondents said they would rather use on-demand storage over self-storage if both options were available to them; the numbers were even higher for women, urban dwellers, boomers and millennials. • Preference for On-Demand Storage is Growing Quickly: consumers’ preference for on-demand storage grew from 42% to 63% over the past eight months. • Top Reasons for Consumer Preference: Convenience and Affordability were cited as the top reasons they preferred on-demand storage. 62% of respondents cited the convenience of saving the time and effort of going to the self-storage unit and 46% indicated it was the convenience of not needing a car. 50% indicated it was only paying for what they actually stored. Even 25% of those preferring self-storage agreed that on-demand storage was more convenient and affordable. A total of 522 respondents from the SurveyMonkey panel completed the survey from January 15-18, 2016; respondents ranged in ages 18-65, represented an equal gender split and were located in markets with active on-demand storage suppliers including Seattle, San Francisco Bay Area, Los Angeles, Chicago, Washington, DC and NY city. Approximately 44% of those surveyed live in apartments and 56% in detached singlefamily homes. About 58% own their residence and 42% rent. According to the survey, 40% had used self-storage before with half of those renting for a year or more. Three-tenths of 1% had previously used on-demand storage.