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December 23rd 2024

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Revenue Shape of 'Outdoor Storage' is a Spread
A capsule: The 'Outdoor Storage' category has an uncommon shape in the distribution of revenue across leading products, which has affected the Leaderboard of category leading products, as well. Category leaders triumph as Seller Accounts per Product increases to a new high. The E-commerce marketplace is dynamic, as can be seen in the 'Outdoor Storage' category, where the 'Average Reviews' has just changed by 6.5%. A milestone has been reached by the leading products within the 'Outdoor Storage' category. The average price of top performers within the 'Outdoor Storage' category mertis attention. Astute brands aspire to capture category leadership with at least one product, yielding an order of magnitude more revenue than products in beneath the top 10 performance tier. One brand has recently done this, and more.
Production Lead: Eric Jackson
Editor: Sam Bernards
Published July, 2022
Why is revenue more distributed than other categories?
We typically notice revenue distribution among the products of any given category is as exponential shape, with the category leaders of the top 10 earning more than the rest of the category, combined. The 'Outdoor Storage' category now has an uncommon shape: a broad distribution that spans beyond the top 10 products, with the current top 10 only earning 43.2% of the best sellers revenue. This indicates that there may be seasonal factors causing category leaderhip rotation, or possibly a broad range of brands with exceptional performance. One implication is that brands can expect this category to move more fluidly, creating opportunities for good performers to break into the leadership roles and experience the elevated revenue as a consequence.
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What is the performance of the category leading products?
This Leaderboard shows the category leaders within the category during the last 30 days. Typically these 10 products earn significantly more revenue than the other products within the category. The strategy to over-spend on advertising and marketing until one's product achieves a rank within the Leaderboard frequently has a benefit other than a magnitude increase in revenue, which is that organic ranking becomes more likely the closer a product gets to the #1 position in the Leaderboard--at which point paid advertising can become unnecessary. The longer a product can stay at the top of this Leaderboard, the more momentum it achieves.
Leaderboard Rank
Product Image
Product
Price
Monthly Revenue
#1 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/6a96e083-5050-4c89-86dc-529ed817c5c8.jpg B09Q39ZY44 | EAST OAK Deck Box, 31 Gallon Indoor/Outdoor Storage Box with Lockable ... $58.99 $818.0K to $999.8K
#2 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/d519fe3d-d18f-4953-908d-cc5d9795df05.jpg B009T7HHGA | KETER Manor 4x6 Resin Outdoor Storage Shed Kit-Perfect to Store Patio ... $599.00 $809.2K to $989.0K
#3 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/7d33d25c-5f43-479c-a84e-5c88a0fbe0fc.jpg B0044V7GMG | Suncast 33 Gallon Hideaway Can Resin Outdoor Trash with Lid Use in Bac... $59.99 $776.6K to $949.2K
#4 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/b1522728-6d2e-45ed-bc76-634758826f37.jpg B00JSKWFV0 | Rubbermaid Small Vertical Resin Weather Resistant Outdoor Garden Stora... $442.35 $762.4K to $931.8K
#5 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/dd397cb3-3199-4590-bbf7-cbfdfbddfa17.jpg B01HDPY7RG | Keter Westwood 150 Gallon Resin Large Deck Box-Organization and Storag... $232.17 $733.2K to $896.2K
#6 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/673b0352-1422-46d9-b7f4-ba424e6c4d75.jpg B075CFV8X1 | Keter XXL 230 Gallon Plastic Deck Storage Container Box Outdoor Patio ... $272.00 $695.0K to $849.4K
#7 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/23cbee9c-3e8e-4b82-a325-bfbfd6057110.jpg B091V4GN7Z | Keter Kentwood 90 Gallon Resin Deck Box-Organization and Storage for P... $139.99 $644.8K to $788.1K
#8 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/912f2a08-048e-440a-a89d-0ca04c83264a.jpg B00IGITN3I | Rubbermaid Resin Weather Resistant Outdoor Storage Shed, 7 x 3.5 ft., ... $1,199.99 $531.4K to $649.4K
#9 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/fdbda42e-111f-4072-b66d-fc09c3d55246.jpg B084YVF817 | 165 Gallon Weather Resistant Resin Deck Storage Container Box Outdoor ... $191.19 $524.6K to $641.2K
#10 https://stepitewebsite-live-7f03a1e4b94c46bcb90-829b0dc.divio-media.org/asin_images/1a9cc136-8226-4a5a-81ea-871425bad24a.jpg B08WVHV3H5 | Keter Solana 70 Gallon Storage Bench Deck Box for Patio Furniture, Fro... $172.04 $469.8K to $574.2K
What is the current 'Listing Brands Per Asin' trend?
The 'Listing Brands per ASIN' measurement is a measure of how many unique amazon accounts (also called 'Listing Brands') are selling the top 100 category leaders within a category. When this number is low, this is a sign that there is consolidation, and that the category is being controlled by fewer brands than average. In this situation competition can be difficult, as the brands may have pricing power, search power / brand strength, and a critical mass of reviews--all of which may make it very difficult for a new entrant to break into the top 10 without relatively high spend on marketing. When this number is high, this is a sign that there is a high amount of consumer demand coupled with moderate to low competition. New entrants may have an easier time in this category, and it may be more forgiving to exploration and mistakes.
Where has the Average Reviews moved to?
A product's review count is one of the most critical components of the E-commerce search algorithm. The recent change from 2,035 to 1,678, a change of -17.5%, is a flag that the category is minorly moving towards lower, less intense competition and seasonal change.
Which brands are collectively earning $1M per month?
In the rapidly evolving E-commerce sector, the Top 10 products of a category achieving a collective one million dollar month is a milestone. It signals growing adoption and viability for consumers. This just happened within the 'Outdoor Storage' category, where the top 10 products collectively earned $7.5M
Why are prices increasing?
Because lower price point products frequently struggle to yield sufficient contribution to drive profitable growth for brands, categories with price points beyond certain levels can be attractive. One of the categories that has crossed the $100/item price point threshold is 'Outdoor Storage', in which the best selling products have an average price of $194.21. Thirty-day revenue within the top ten products ranges from $521,969 to $908,918. In order to break into the top ten products and experience the exponentially higher revenue this affords, products will need to maintain an average rating of 4.4 and earn at least 403 reviews. In order to ensure a level of margin that is at least average, brands should aim at a maximum fully-landed COGS of $48.55
Why does one brand perform so well?
'Keter' has accomplished what few brands can: it now owns 6 of the Top 10 products within the 'Outdoor Storage' category, giving it 37.2% of sales (19,050 units), 57.3% of revenue ($4,307,368), and 45.2% of reviews (23,178) of the top 10 products within the last 30 days.
To conclude, the wide-spread revenue that we can see in the 'Outdoor Storage' category implies a higher level of leadership change than average, which can be the basis of opportunistic growth for astute brands, the recent performance of ASIN #B09Q39ZY44 ('EAST OAK Deck Box, 31 Gallon Indoor/Outd...' by EAST OAK) shows that it is the new benchmark., the recent high of the 'Seller Accounts Per Product' metric is an essential flag for the brands in the 'Outdoor Storage' category. Those who wish to lead must improve their performance., the recent shift in review count is a call to action for those brands which are under-performing--specifically that a stronger focus on marketing and conversion is increasingly important in order to not be left behind, the milestone that the top 10 products have acheived is a signal that the category is growing. Brands which acheive category leadership positions now will acheive algorithm momentum, and will likely be able to ride the increasing wave of growth, the relatively high average price point of the 'Outdoor Storage' category can be attractive for brands which can manufacturer and ship products at that price point and still maintain contribution margin, the category-leading position that 'Keter' has earned will continue to provide the brand with over-indexed revenues and organic traffic unless a competing brand can improve their marketing and product performance to take away share.