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Share Name | Share Symbol | Market | Type |
---|---|---|---|
United Parcel Service | NYSE:UPS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.4099 | 0.28% | 146.8399 | 147.81 | 146.165 | 147.79 | 2,073,358 | 01:00:00 |
“Storage on Demand solves a problem that is becoming nearly universal as our population and demographics evolve. Millennials are moving into small homes in crowded urban areas. Baby boomers are downsizing for retirement. And small businesses need space for excess inventory,” said Darren Kamensek, strategy and innovation manager for UPS and one of the co-founders of Storage on Demand. “The problem is that there aren’t many services that truly provide end-to-end storage and quick, easy retrieval of goods – Storage on Demand solves all of that.”
Self-storage is a $38 billion industry that has experienced 7.7% annual growth since 2012, with one in 11 Americans paying an average of $91.14 per month on self-storage according to SpareFoot Inc., a company that tracks the self-storage industry. In the traditional self-storage model, customers pack, load their items and transport them to a storage unit. If a customer wants to retrieve any of their stored items, they have to return to the unit. Unlike traditional self-storage companies, Storage on Demand adds digital, on-demand functionality to an industry that has historically required significant time investment and resources from its customers. Storage on Demand simplifies the entire process by eliminating the need to leave your home.
Storage On Demand makes it easier for consumers and small businesses to enjoy and better utilize their space, manage their belongings, and de-stress their lives.
A team of four UPS employees conceived the idea and pitched it at an internal innovation competition where employees from various UPS departments are invited to pitch new, innovative ideas directly to senior executive leadership for the chance to earn time and funding to turn the idea into a real, new business. Storage on Demand went from concept to reality in just nine months. UPS has focused increasingly on this kind of innovation, speed, and agility since it launched its Transformation in 2017.
“It’s critical to empower the people in your company to work on innovation. Our employees know better than anyone the needs of our customers and the hidden advantages that UPS can provide,” said David Lee, UPS vice president of innovation and new ventures. “This internal competition is a path for talented and passionate people to turn their ideas into a real, impactful business.”
“Our global reach, broad customer relationships, and unmatched logistics infrastructure give UPS a powerful platform on which to build and scale ideas,” Lee said. “In the last two years, UPS has engaged thousands of employees and reviewed hundreds of new business proposals. We are working hard to launch several new innovations in the near future.”
Storage on Demand currently serves the greater metro Atlanta area, including Roswell, Marietta, Alpharetta and Sandy Springs with plans to expand to other U.S. cities in the near future. Prices start at $5 per month per bin. Storage on Demand is currently offering a promotion for the first three months free, which includes delivery of bins, pickup from your door, three months of storage and delivery back to your home or business.
For more information about Storage on Demand, please visit www.clickstorestuff.com.
About UPSUPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Forbes Most Valuable Brand in Transportation; and top rankings on the JUST 100 list for social responsibility, the Dow Jones Sustainability World Index, and the Harris Poll Reputation Quotient, among other prestigious rankings and awards. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at longitudes.ups.com. The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter. To get UPS news direct, follow @UPS_News on Twitter. To ship with UPS, visit ups.com/ship.
Contacts: Dionicio Hernandez 404-828-7763 dioniciohernandez@ups.com
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