MAINLAND CHINA SELF STORAGE INDUSTRY REPORT 2016
Ipsos Business Consulting
Mainland China Self-Storage Industry - 60% growth since 2014.
While the self-storage industry is still very young in Mainland China, it has shown significant growth over the past two and a half years. Today indoor self-storage facilities can be found in 10 cities across China with three main cities driving growth; Beijing, Shanghai and Shenzhen.
Beijing has the highest number of facilities with the most gross floor area, however when comparing cities on a gross floor area per capita basis, Shenzhen comes out on top.
The main challenges self-storage operators face when starting a self-storage business are ensuring the sustainability of the business and marketing and sales. Taking into consideration that self-storage is new industry and overall consumer awareness is naturally still low, these challenges are quite understandable.
On the other hand, the key drivers of the growing self-storage industry are the shrinking apartment sizes and increased demand from individual consumers, showing that once consumers understand the value proposition, they are very quick to start using self-storage.Ipsos Business Consulting has a very positive outlook on the future development of the self-storage industry in Mainland China. Overall growth of just under 60% in the past two-and-a-half years is truly remarkable, while the growth in the number of facilities in Shanghai over the same period was even higher at 85%.
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