HOUSEHOLDS' ACCEPTANCE OF SELF-STORAGE IN SINGAPORE

Abstract

Self-storage service has been popular in the United States for the past forty years and in the United Kingdom for the last ten years. In year 2002, this new concept finally arrived in Singapore. As consumers are introduced to the new self-storage concept, this research examines the acceptance of the concept of self-storage among households and, their characteristics, behaviour and preferences in general. The implications on marketing management and future self-storage developments are then discussed. It is observed that self-storage acceptance is only dependent on the age of the consumers. Consumers belonging to the age group of "30 years and below" are most receptive towards this new idea in town. No other factors that are being analysed have any relation with acceptance. At the same time, consumer preferences are also investigated. Respondents mostly agree that they are likely to engage self-storage service when renovation work is carried out at home. Meanwhile there are implications for marketing managers to adjust their marketing strategies to accommodate consumer preferences and target their marketing efforts more specifically. Future self-storage facilities should be located in proximity to consumers' home, within 10 minutes of traveling time and accessible via the Mass Rapid Transit (MRT) and the Light Rail Transit (LRT).