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Are Millennials Actually Boosting the Demand for Storage Units?

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One of the most important segments of the consumer population is millennials. This young generation is responsible for more than $1 trillion in spending each year. One of the most important values of this generation is ownership.

This means that millennials think carefully about where and how they are going to spend their money. This generation tends to prioritize experiences over material items.

Millennials Skip Material Goods

Because this generation spends their money on experiences, they tend to save money elsewhere. It is no secret that gourmet meals, traveling overseas, and live concerts cost a lot of money.

One of the ways that millennials tend to save money is by renting a small apartment or sharing it with roommates. Many millennials have even moved back in with their parents in an effort to save money. This leads to a number of other side effects that people should note.

Mini Storage Units Are Popular

When millennials save money on material items, they tend to live in small spaces. As a result, there is not a lot of room to place other items. This leaves millennials looking for alternatives.

One of the places they look is for mini storage units. In many cases, millennials actually see these storage units as an extension of their home.

These storage units provide millennials with both convenience and affordability. For millennials who live in larger cities where the cost of living is even higher, these storage units are even more important.

The Future Generation Has Different Priorities

It is clear that millennials tend to have different priorities from their predecessors. They are focused on living life their way and they are not going to back down anytime soon. This is reflected in where and how they spend their money.

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