Multifamily Package Volume Approaching Breaking Point
Package volume at multifamily communities has skyrocketed in recent months. In an effort to avoid public spaces including brick-and-mortar retailers, renters are increasingly turning to e-commerce for almost all of their shopping needs. As a result, online orders are piling up at apartment buildings, and finding storage space has become a constant and often unfeasible task for property managers.
To understand what unprecedented package volume has meant at the property level, Fetch conducted a study of its internal data to gain a better understanding of the actual impact facing multifamily.
Here are the findings:
From June of 2019 to June 2020, package volume per unit at multifamily communities increased by 59%. In May, renters at those properties averaged more than 10 package deliveries per apartment home, surpassing online holiday shopping levels from 2019. The average for July and August 2020 has been hovering around the 10 packages mark as well, at 9.53 and 9.83 packages, respectively.
Volume, Oversized Packages Push Storage Limitations
It only takes one couch or king-sized mattress to clog a package room.
While the percentage of all packages that qualify as oversized – those measuring more than 4 cubic feet – remained consistent during the first six months of the pandemic, the overall volume increase means that oversized package volume has gone up at a similar rate.
Oversized packages make up on……