Unexpectedly, the crisis quarantine period from spring 2020 to the high season (spring) of 2021 became a positive period for the self-storage industry in Ukraine. Against the backdrop of the pandemic, profits grew by 10-20%. This was due in particular to the active use of the service by entrepreneurs who stored their goods and by citizens who were in self-isolation.
Features of the self storage industry.
The self storage industry is a crisis-resistant business. This was proven by the Covid-19 pandemic. It so happened that the industry relies on the 4 D’s: death, divorce, departure, and disasters. Indeed, all of these reasons are not optimistic. Therefore, when circumstances in a person’s life change suddenly, they use storage services. The spread of the coronavirus has led to the expansion of the industry. While other types of businesses experienced a crisis peak, the self storage business proved to be resilient to the recession.
Stages of industry functioning under quarantine conditions
In the spring of 2020, for the first time in its short history of development in Ukraine, the growth indicators of Komora’s warehouses began to rise. Although not immediately. At first, the number of move-ins decreased, and in order to save and optimize, some of Komora’s clients refused storage services. Another part of the business clients requested deferred rent or temporary additional discounts. Many businesses were closing, people were losing their jobs, and as a result, they were simply leaving the capital.
However, new clients appeared. Tenants who moved out of their offices and started working remotely transported their office furniture to storage. Entrepreneurs who reduced their rental space also turned to rental services. Shopping centers added clients, with some stores reforming into online shops. All of them became new users of the storage service. Thanks to this, the occupancy rates demonstrated positive dynamics.
Prospects of the industry
In the second year of quarantine – in 2021, despite the challenges, self storage operators continue to develop.
It is worth noting that Ukrainians are ready for the automation of self storage services, as well as for the full functioning of the location without human intervention. Therefore, Komora will continue to strive to improve industry standards, introduce new practices, and make the service as convenient as possible for users.
Today, businesses continue to face new challenges and transform themselves to meet the demands of the times. However, we believe that attentiveness to customer opinions, loyalty, and constant improvement of services will characterize Komora as a successful business even in these difficult times.
