The self storage industry only exists because of two fundamental aspects of human behaviour. The first is acquisitiveness which is the desire to acquire and keep goods above and beyond what appears necessary for one’s own basic comfort and survival. The second is the endowment effect which is the tendency for people to overvalue what they own. If you are interested in reading up of these two psychological traits there is a book published by MIT which is well worth reading; The Interdisciplinary Science of Consumption.
If we didn’t buy so much and didn’t think that what we had bought was worth more than it really is there would be no need for self storage units. The fact is that we do and consequently the self storage industry last year in the U.S. was worth an estimated $24 billion in annual revenues across 58,000 facilities.
In any multi-billion dollar business providing a service for consumers there will be criminals, scams and fraud. The aim of the Self Storage Guide is to help consumers avoid the potential problems and assist them in making the right decisions when choosing self storage facilities. This news section will focus on what’s happening in the industry today that is of particular importance to consumers and any events of which they should be aware.