Self-storage and the Gen Z boom
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 24 June 2024
⏱️ 17 minutes
🧾️ Download transcript
Summary
Ever needed to put your stuff in a storage unit?
Recent research predicts the global self-storage market will be worth around $70bn by 2031 and the UK’s self-storage industry made more than £1bn last year for the first time ever.
But what’s behind this rapid growth? What are people putting into these units? And what does it have to do with Gen Z and internet shoppers?
We also hear from critics on what the growing industry says about housing around the world.
Presented and produced by Sam Gruet
(Image: A young woman loads storage boxes into a unit. Credit: Getty Images)
Transcript
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| 0:00.0 | Here we are in one of the units. |
| 0:04.7 | Yep. |
| 0:05.5 | This is three walls in a door. |
| 0:08.6 | Welcome to Canada's booming self-storage industry |
| 0:12.4 | and today's Business Daily on the BBC World Service. |
| 0:15.8 | A slightly off-beat question. |
| 0:18.0 | What's the strangest thing that you've seen someone try to store on one of your |
| 0:22.1 | facilities? It's the strangest thing. Let me come back to that. You can ask me again later. |
| 0:28.7 | I'll think about what it is. My name is Sam Gruet and today we're lifting the shutters and going |
| 0:33.5 | inside a global multi-billion dollar industry that spawned podcasts. |
| 0:38.4 | We get around about 15,000 listens a month, which I had no idea there was that many |
| 0:43.3 | people interested in self-storage, which is incredible. |
| 0:45.5 | And attracted entrepreneurs and investors around the world. |
| 0:48.7 | From Japan in the northeast to Indonesia and the south of Asia and west to West Asia, otherwise known as the Middle East. |
| 0:58.0 | But what's behind the global boom in self-storage? That's coming up on Business Daily. |
| 1:07.9 | It's a Saturday morning in Canada's biggest city, Toronto, and like several thousand people around the world, |
| 1:14.2 | I'm packing up some stuff, ready to move it into self-storage. |
| 1:19.8 | Storage has become big business around the world, but it's not always so easy to get hold of the numbers. |
| 1:26.1 | Recent research predicts the global self-storage market will be worth around 60%. always so easy to get hold of the numbers. After 400 metres. |
| 1:33.0 | Recent research predicts the global self-storage market will be worth around $70 billion by 2013. |
| 1:34.4 | In the UK, revenue was over a billion pounds last year for the first time ever, according |
| 1:39.2 | to a recent report by Property Agency, Cushman and Wakefield, and the Self Storage Association, UK. |
... |
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