Self-Storage Business: 5 Trends For The Year 2024

In recent years, the self-storage business in Poland has been experiencing rapid growth. The potential here is huge, as the domestic market is still far from fully flourishing. For comparison – in the United Kingdom in 2023 there were 2280 self-storage facilities, while in Poland only about 130 (1). Faced with increasing demand and changing customer needs, Polish entrepreneurs must be vigilant and optimize their strategies. What can we expect in 2024? In the article, we will look at the trends that, in our opinion, will support the developing self-storage market well.

In 2024, an important aspect of the self-storage business will be the implementation of digitization and automation elements.
The developing Internet of Things (IoT) and artificial intelligence will also find application in self-storage facilities.
Advances in digitization will determine greater attention to data security and customer privacy.
In 2024, the trend of personalizing services will continue.
Sustainability efforts are gaining ground, including in the self storage business.

Digitization and automation in self storage

A well-organized self storage is one in which many processes can take place automatically and electronically. Implementing digital solutions in the company will be important not to fall behind the competition. Self-service is to be simple and tenant-friendly. The use of advanced systems, such as Sprytki.pl, will also enable easy management of a facility (or even multiple facilities) and bring quite tangible benefits. Features in the software such as:

event monitoring,
automatic invoicing,
automatic payments,
online rental management,
remote access to data,

make everything you need at your fingertips. This way you keep various data (e.g. contracts, invoices, information about tenants) in one place. There is no need to transfer documents between different systems.

By the way, as an interesting side note, we will give you data from Scandinavian countries, which are strongly rely on remote management systems. According to the FEDESSA report, in 2022, as many as 97% of self storage facilities in Norway were managed entirely remotely (without staff present in the warehouse all the time) (1). In Poland, as of the date of the report, there were no such facilities at all.

Smart device network

Currently, technologies such as the Internet of Things (IoT) and artificial intelligence are being developed quite intensively. These will also find application in your self storage. The number of devices connected to the Internet (and to each other) is constantly growing. In doing so, they are creating an intelligent and quite smart network. It is estimated that by 2025 there will be as many as 75.44 billion IoT devices installed worldwide (2)!

To integrate with similar technologies you need to invest in dedicated systems, and you won’t have to wait long for the results. It will save you time in the short term and money in the long term as well. Customers will also be happy with all these solutions! What technological innovations are worth being tempted by?

Access automation: smart locks and access management systems that will allow customers “keyless” entry to the facility and even to the boxes themselves. This eliminates the hassles associated with lost padlock keys, uncontrolled entries, or limiting rental possibilities to office working hours only.
Real-time data and analytics: IoT allows real-time data collection and analysis. Facility managers can monitor space utilization, frequency of customer access to the boxes, boxes occupancy in a given period, download other interesting statistics.
Environmental conditions monitoring: IoT sensors can track conditions such as temperature and humidity, and report in real time on deviations from established norms. This is especially important for customers who store items that require special storage conditions (musical instruments, artwork, electronics).

Security and privacy of tenants

There has already been a lot about technological trends, but one more important piece of this electronic puzzle needs to be mentioned. Proper care of digital resources also includes protecting your customers’ privacy and keeping the data safe. Do not treat this aspect as the proverbial blade in the eye, but as a natural, obvious part of your business, and one that is easy to grasp. The right applications today offer effective security solutions such as data encryption, regular backups and compliance with current data protection regulations. Such a reliable and honest approach to security also builds customer loyalty and trust.

Personalisation of services in self-storage

Every customer wants to be treated in a unique way, not in a ‘one-size-fits-all’ manner. This also applies to self-storage tenants who expect individualized treatment and offers tailored to their needs. The year 2024 will see further development in personalized services. If you’re worried that this will complicate management and add to your responsibilities – there’s no need! If you make your life easier and follow the technological trends we wrote about earlier, you are home. The right software will do a lot for you and even the business will run itself. What can be part of such personalised services?

Customized, individual pricing.
Flexible rental terms and conditions.
Special offers for regular customers.

A nice touch can also be the personalisation of the boxes themselves in the software – there are systems where the boxes can be renamed at will, also at the customer’s request. The DIY enthusiast will find it easier to get attached to his “Workshop” and the antique collector to his “Antiquarian”.

Sustainable development

A green approach to the self-storage business will become more important in 2024. What can you do to take better care for the environment? Certainly, monitoring energy consumption and optimizing resource management is worthwhile. It might be a good idea to install proper lighting and control it automatically (bow again to IoT). Such measures will translate not only into a smaller carbon footprint for warehouses, but also considerable savings. Putting money into green technology and promoting sustainable practices will also be important for building a positive image for your brand.

Remember that investing in green measures does not have to be expensive! It is now becoming a positive trend to move completely away from using paper in the warehouse in favour of digital media. This even applies to the process of signing contracts, which can be done completely online, ecologically, without printers. You can do this via the Signa365 portal, for example. Contracts drawn up in this way are secure and legally binding thanks to electronic signatures (Eurocert certification).

Summary

We predict that the trends in the self-storage business for 2024 will be created mainly by technology and digitalisation. Personalisation of services and ecological issues will also be important. Investing in such solutions is a step towards a future where your storage facility (or network of storage facilities) will have a solid position in the market and its loyal fans.

Jean-Jacques Rousseau wrote: “Patience is bitter, but its fruit is sweet”. This kind of patience is necessary to follow trends and innovate your self storage. If you approach this wisely and choose those innovations that best fit your business – the sweetness of success is guaranteed.

Sources:
(1) https://www.fedessa.org/publications/european-annual-industry-report-2023.html
(2) https://www.statista.com/statistics/471264/iot-number-of-connected-devices-worldwide/