eKourier Jan 2021

FEATURE

Customer profiles indicate three in four customers are residential, and store for approximately a year and half while business customers store for longer, just over two years. Our records indicate residential storers store for around 13 months. THE CONSUMER Awareness has increased over the years, with 92% of Australian and 82% of New Zealand people who had never used self storage, becoming aware of the product. Although awareness is higher, only one in two people surveyed understood the product. Brand awareness unprompted showed Kennards was the Brand most recalled at 25% in Australia and Storage King 23% in New Zealand while Kennards is second in New Zealand. Kennards ranked in the top three for all states and first in three states. Path to choosing storage: people research and consider using storage 3.5 weeks before storing. 43% consider multiple storage providers with the main reasons for choosing a particular facility being: convenient location, 24/7 access, cleanliness and security. Price does factor in with 18% of users looking for the lowest price. The perceived benefits of using storage rank safety, security and flexibility the highest, with cost-effectiveness ranking number one for business storage customers. THE FUTURE Operators are optimistic about the future of self storage. The survey indicated that one in three people would have a need for storage in the next five years. The SSAA has indicated the “State of the Industry” insights is just the beginning. The intention is to update the data on a regular basis to discover trends and have a record of change. Congratulations to the Team at the SSAA for such comprehensive insight into the industry! Darren Marshall Chief Operating Officer

seeing this currently play out because of the COVID pandemic. The four D’s remain relevant as drivers for storage: Density (apartment living), Divorce, Death and Displacement (or Dislocation). Other factors that influence demand include, population growth, average household income, new apartments, unemployment, and residential turnover of homes.

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DEMAND FOR STORAGE IS GENERALLY DRIVEN BY DISRUPTION IN

“In the reorganising that we have all witnessed Kennards Tauranga and Jiang were very helpful in reserving a large storage unit for me at very short notice. Paid for six months. Buyers of my house failed to complete one week before vacant possession was arranged. Incred- ibly disruptive for all involved. Jiang was most helpful throughout this bad experience and provided me with a full refund. I shall certainly recommend this professional organisation and use them again in the future." "From day one my experience with the staff at Kennard Auburn was amazing. Kaz who I dealt with was so friendly and so professional. Nicky was very professional in her follow up calls. I could speak to them about anything. I felt so comfortable and respected. The staff were amazing. The service provided was greatly appreciated. It met my needs 100%." "Kennards Frenchs Forest has exceeded my expectations in every way! Wayne from HQ recommended we check out the centre, and let us know to speak to Joel, the Manager. Wayne gave us great tips and answered all our queries about insurance and security. Joel made excellent recommendations to us, gave a full tour, and helped us to receive a large shipment. It is very clear the company culture is embedded throughout, the service is impeccable and consistent. The centre is new and spotless, with great facilities. I would definitely recommend to anyone."

PEOPLE LIVES. WE ARE SEEING THIS CURRENTLY PLAY

OUT BECAUSE OF THE COVID PANDEMIC.

THE INDUSTRY

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It was highlighted the relationship between past users of storage that 53% are highly likely to need storage in the future. While only one in six who have never used storage felt they would have a need for storage in the future. Need for storage seems highest amongst younger people and declines with age. REASONS FOR NO LONGER NEEDING STORAGE (pictured left) The study indicates an obvious shift to web for customer enquiries for large operators while smaller operators rely on phone enquiries. Walks ins remain high. Use of incentives has increased and divided operators on the value of offering a discount and its potential to devalue the product.

14 Kennards Kourier Jan 2021