Storage companies have left moving companies in their wake, but Millennial movers could soon swing the pendulum back the other way.
Americans sure love their storage space. In fact, if laid flat, the combined space of the country’s 48,500 storage units would cover the area of Manhattan three times over. This image ought to make anyone sit up and appreciate the vast size of America’s moving and storage industry. Between the two sectors, moving has fared worse: Plummeting mobility rates and industry deregulation have been driving down movers’ profits for decades. By contrast, the storage sector—long a beacon of consistent success—has been on a high lately. With Millennials moving back in with their parents in record numbers, families are using self-storage units as a long-term decluttering solution. Going forward, moving companies hope that Millennials will reverse Generation X’s aversion to profes-sional movers, while storage companies must find a way to appeal to a generation with less stuff than their parents.