26 Jan '16, 4am

Tough times ahead for the self-storage industry but some promising new trends such as the rise of Ecommerce storers:

Tough times ahead for the self-storage industry but some promising new trends such as the rise of Ecommerce storers:

Photo of self-storage units in Singapore. 2016 is shaping up to be a challenging year for Singapore’s self-storage industry as more households and businesses tighten their purse strings in anticipation of tougher times ahead. Helen Ng, Deputy Chair of the Self-Storage Association Asia and Group Chief Executive Officer of General Storage Company, said: “Households may try to discard their belongings instead of storing them and businesses may reduce their inventory to reduce overstock.” Despite the headwinds for the self-storage industry, Ng believes there are still growth opportunities. For instance, some demand is likely to come from businesses selling Chinese New Year merchandise. Ng noted that unlike traditional warehousing where there is a lengthy lock-in period, storage terms at self-storage facilities are flexible, and thus more appealing to businesses that want the f...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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