Countless Americans are quickly acquiring more physical belongings than they know what to do with. Without room in their houses and apartments for their excess stuff, many are turning to portable storage units. People don’t want to part with their treasured belongings, but they’re tired of tripping over them. Storage units offer the perfect solution. As self-storage increases in popularity, the storage industry has seen several trends develop. With Americans’ acquisitive tendencies showing no signs of slowing down, it’s safe to assume these emerging trends will continue for years to come.
For years, consumers have shown an appreciation for quick-and-easy business interactions that eliminate human contact. The coronavirus pandemic has only accelerated this trend. What was once a matter of convenience is now a safety issue. More and more self storage companies are offering their customers contactless options. By leaving keys in lock boxes and facilitating rentals online, companies are making their services easier and safer than ever.
Portable Storage Overtaking Other Storage Styles
In recent years, portable storage units have been gaining in popularity in comparison with traditional storage models. People appreciate the ability to store their belongings outside their homes but on their own properties. They also like the increased flexibility of a unit that can be transported to a different location. With Americans still interested in moving and more appreciative than ever of convenience, there’s no reason this trend won’t continue.
Larger Companies Dominating the Market
Like in so many other industries, larger companies are coming to dominate the self-storage scene. Mom-and-pop businesses are still prevalent, but every year larger companies eat up more and more of the market share. With their increased efficiency and considerable marketing advantages, we can expect this trend to accelerate in the coming year.
More Attractive Units
As portable units become more common, it’s more important than ever to take aesthetic concerns into consideration. People aren’t going to want an ugly, modular contraption sitting outside their home. Companies are going to realize that offering stylish units is a great way to set themselves apart from the competition. Some businesses might even style themselves as “boutique” renters, winning them approval with certain subsets of consumers.
Less New Construction
While the demand for self storage is likely to continue increasing, the recent boom in new pod construction might be coming to an end. For years, the industry found itself with far fewer units than the customer base wanted. New companies popped up left, right, and center, while existing companies expanded their offerings. In the coming months, expect this explosion of physical growth to level off. The industry is still likely to thrive, but the need for new units has finally abated.
Continued Interest From Investors
With such a positive outlook, the portable storage industry is going to remain a hit with investors. When demand in a particular industry shows such limitless growth, it’s no surprise that people want a piece of the action. For smart entrepreneurs eager to enter a strong industry, it’s hard to find a better option than portable storage. Some of these newcomers will start their own businesses, but many more will invest in existing companies.
The portable storage industry is currently benefiting from years of economic growth in America. For generations, people have been acquiring more and more belongings. Just when it seems people’s houses are bound to burst, self storage units come to the rescue. In addition to growing, the storage industry is also developing and changing in all sorts of ways. These are the trends you can expect to continue.