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Ready Steady Store Research Shows Rising Demand for Self-Storage Among Young UK Consumers
May 22, 2024
1 Min Read
New research from Ready Steady Store, an England-based self-storage provider, revealed rising demand for self-storage among young residents of the United Kingdom. In an effort to gain insight regarding consumer behavior, the company surveyed 500 people about the current level of clutter within their homes, according to a press release.
Key findings from the study include:
More than half (54%) of young U.K. consumers rely on self-storage due to lack of space in their homes.
81% of Millennials and Gen Z respondents require more space at home.
Nearly 50% struggle with space due to storing sentimental items.
52% of respondents said their homes are cluttered by seasonal items such as holiday decorations or clothing.
Price (83%), proximity to their home (68%) and security (52%) are the most important factors when renting self-storage.
24% of respondents are opting to downsize and use self-storage to safeguard excess items.
Due to rising mortgage rates, which impact 28% of young consumers, and the cost of living, which affects 51%, more people are turning to self-storage instead of moving into a larger property, the survey showed.
“This latest research is extremely interesting and highlights that although a massive 81% of young consumers believe they don’t have enough room, many are unable to move into a larger property due to high or uncertain mortgage rates,” said Mehran Charania, director. “As such, it’s no surprise that the younger generations are having to increasingly rely on self-storage to declutter and free up vital space. This is something we’ve seen at Ready Steady Store sites across the country.”
Established in 2005, Ready Steady Store operates 23 self-storage facilities throughout England.
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