Tuesday, April 23, 2024

Under Bed Storage Market Report and Product Research

Under the bed storage box refers to a box or container for storing items, usually used in the bottom of the bed, wardrobe, living room, storage room and other areas. Its rise stems from people’s demand for the use of space under the bed and their pursuit of quality of life. More and more people have found that the space under the bed is a valuable area that is inefficiently utilized, because items such as clothes, shoes, and quilts are piled up in the room, which not only occupy space, but also have a negative impact on overall hygiene and visual effects. Therefore, the emergence of storage boxes under the bed fills this market gap, allowing people to effectively organize the space under the bed and improve the cleanliness and comfort of the living environment. In this report, we will briefly analyze the under-the-bed storage box market, revealing its potential and competitive environment. The report includes market size, growth trends, consumer demand, etc. We hope to provide valuable information for Amazon cross-border sellers and industry stakeholders.

1. Market analysis

Basic Market Situation

  • The data of the past 30 days shows that new products account for 17%, with an average monthly sales volume of 2,215 and sales volume accounting for 9.2%. The average price of new products is 30.23 dollars, which is higher than the average price of TOP100 of 26.78 dollars, indicating that new products do not follow a low-price strategy and have certain competitive advantages in some aspects .
  • Under normal circumstances, the return rate is positively correlated with the star rating. The higher the star rating, the lower the return rate.
  • The return rate of the storage box under the bed is 4.6%, which is lower than the 5.0% refund rate of the congeneric product, and it will be easier to get consumer praise .

Category Keywords

  • From the 5-year trend, there is no obvious seasonal change, but around Christmas in December each year, there will be a small peak .

Category Keywords ABA Ranking Trends

  • Keywords ABA ranking trend, has been high, indicating that consumer search heat has been very high, some words reached their peak in July-August, some words reached their peak in January.
keyword20222023
AugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJuneJuly
under bed storage2,0072,7043,3314,1224,1812,1702,6372,6302,6282,2422,2871,962
storage containers1,3891,2831,3161,7341,7257561,1162,6573,1072,7271,5951,117
closet organizer4915747701,0351,0673395701,3731,403743508834
clothes storage8,2049,8499,07411,09013,6158,1278,07511,7259,7767,5196,7266,605
shoe storage5606819571,1121,5517721,0081,2121,1731,2011,073859

BSRsales and competition

  • According to the sales situation from 2018 to 2023, consumers’ demand for under-bed storage continues to rise, and from July to December each year, it is significantly higher than other seasons.
  • In the past five years, the annual sales volume has shown a positive growth trend every year.
  • Although the growth rate in 2022 has dropped to 5.66%, according to the month-on-month data of the first half of the year, it is expected that the annual growth rate in 2023 will reach about 20% , or will reach a new level .
  • While the market sales are increasing, the number of products is also increasing, and the difficulty of new products is increasing .

2. Product analysis

TOP100 Product Category:

Analysis of different types of under-bed storage products:

Type (self-named)Storage boxesStorage box binsStorage bagsStorage drawersHanging storage
Average price$33.89$32.53$20.58$51.38$14.20
Monthly sales42,57914,752129,33214,22147,351
Monthly sales as a percentage17.20%5.90%52.10%5.70%19.10%
Monthly sales$1,325,025$387,799$2,588,206$722,389$707,547
Monthly sales as a percentage23.10%6.80%45.20%12.60%12.30%
Transactions Per Customer$31.12$26.29$20.01$50.80$14.94
ASIN number22849129
Single ASIN average sales volume1,9351,8442,6391,1855,261
Earliest shelf time1/7/20184/28/201411/8/20164/18/20173/27/2017
Latest shelf time6/27/20238/4/20237/9/20236/30/20231/6/2022
Number of ASINs launched within six months521260
Average monthly sales of ASIN launched within six months8661,3061,737536
Style analysis① The Product Form is mostly a flat rectangular parallelepiped with sturdy side walls and bottom. The external packaging mostly uses woven fabric to meet consumers’ demand for “non-deformation”. ② The average price, sales, Per Customer Transaction, and product quantity are the second highest, indicating that the product has high profit margins and attention. ③ Among the TOP100, there are 6 products that specialize in shoe storage and have shoe compartments.① Product Form is mostly box-shaped, with the largest accommodating space among the five categories. All six sides are made of hard material, which is sturdy and reliable. ② The price is similar to the storage box, with the smallest number of products, but Per Customer Transaction and single ASIN monthly sales are relatively good. ③ Among the TOP100, there are high-height boxes and short ones that can be stacked freely, indicating that there is a demand for various scenarios.① There are various types of Product Forms, including flat rectangular parallelepiped, box-shaped, and handbag-shaped. The side walls and bottom are amorphous and can adapt to various scene needs. The wrapping materials are mostly woven fabrics. ② The monthly sales volume is the highest, accounting for 52.1%, and the product quantity and monthly sales volume will also be nearly half, making it the mainstream type of this category. ③ This product has the highest demand due to the lack of hard material requirements and low cost.① The Product Form is mostly a hard flat rectangular body with wheels at the bottom, which can be rolled and easily slid in and out of the bed. ② The cost is the highest, and the average price and Per Customer Transaction are also the highest. In this case, the sales volume of a single product can still reach thousands, indicating sufficient market demand. ③ The number of ASINs on the shelves within six months ranks second, which has a new competitive advantage compared to mainstream products.① There are hooks hanging on the headboard and wardrobe, especially on the railings of school dormitory beds, hospital beds, baby cribs, etc., which do not belong to under-bed storage. However, there are also 9 products in this subcategory, indicating a high demand. ② The price is relatively low, but the sales proportion ranks second, and the sales volume of single ASIN ranks first. ③ Hanging storage is not included in this discussion and is different from under-bed scenes.

Next, we select the highest proportion of sales of storage bags (52.1%) , and TOP100 new products accounted for the highest proportion of storage drawers (50%) , to conduct further product analysis.

  • According to the initial appearance, it is mainly a rectangular parallelepiped of various lengths, widths, and heights. Due to the lack of a supporting skeleton, the shape cannot be fixed and depends on the filling material.
  • According to the product material, the external wrapping material is mostly a mixture of woven fabric and transparent plastic, with zippers and handles (handles) for easy storage and movement.
  • In terms of capacity size, since the production cost of the product is relatively low compared to other styles, the capacity adaptability is wide, ranging from 48L to 135L.
  • According to the product color, gray, dark gray, and transparent are the main colors, which will be more popular with consumers.

Sales continue to rise, and market demand is obvious

  • Compared with previous years, the heat of storage bags has not decreased, showing an upward trend all the way, whether it is year-on-year or month-on-month, it is very obvious that sales in July have increased by more than 1 million US dollars compared with June.

Price analysis of storage bag products:

  • Product price distribution: 19 dollars-23.99 dollars price range, ASIN accounted for 32.7%, the most intense product competition.
  • New product price ratio: New products can only enter the range below 29 dollars, and the average sales volume of a single ASIN is not high. It is expected that the competition will be fierce, and the product profit is not very considerable.
Price rangeASIN%Proportion of new productsMonthly sales as a percentageSingle ASIN average sales volumeAnalysis
$9-13.9920.40%10.20%2.60%2,594There are new products available, but the sales volume at this price point is low
$14-18.9920.40%4.10%3.30%3,346
$19-23.9932.70%8.20%3.90%2,418
$24-28.9910.20%0.00%40.20%80,595Most of the sales are distributed here, but no new products have entered
$29-33.9912.20%0.00%41.10%68,780
More than 34 dollars4.10%0.00%8.90%44,884Not consider

Storage bag brand sales:

  • In the brand performance of storage bags, the total sales volume of TOP13 accounts for more than 80%, among which the brand Amazon Basics (Amazon’s “son”) accounts for nearly 20% of the market share, making it difficult to shake its “leader” position.
  • Fixwal specializes in home-related products, dedicated to creating a more minimalist home life with higher quality products and more reasonable consumption, bringing consumers a better living experience. It covers all scenes such as kitchens, living rooms, bedrooms, bathrooms, etc., and may be a seller of industrial and trade integration.
  • StorageRight: There are not many products, but the brand’s next high-quality products can still offer discounts of 10% -50% even when the pricing is not high. It is speculated that there is a strong operation team behind it, and it is confident that it can make a profit by occupying the market in the future.
  • WISELIFE: Specializes in home storage, with a matrix layout, high number of feedback and positive reviews, and high risk resistance. After brand analysis, although the top ranked brands have not formed a single monopoly, their market position is difficult for new sellers to seize.
BrandASIN quantityMonthly salesSales as a percentageMonthly salesMonthly sales as a percentage
Amazon Basics222,47617.40%$501,99319.40%
Fixwal913,97910.80%$243,7609.40%
StorageRight211,5658.90%$220,6758.50%
WISELIFE210,1687.90%$180,4387.00%
Onlyeasy17,9506.10%$103,1124.00%
NestNeatly16,6575.10%$158,9696.10%
Budding Joy35,9784.60%$159,6946.20%
Fab totes15,1574.00%$154,6586.00%
combocube24,9473.80%$83,2443.20%
ZOBER14,8773.80%$58,6222.30%
BlissTotes14,0193.10%$80,3403.10%
Lifewit23,6342.80%$81,0263.10%
Wappa Home13,1132.40%$77,7943.00%

Summary:

Some storage drawer products are sold using a combination of storage bags and roller frames. There are updated improvements in the new category, and the seller’s research and development capabilities should not be underestimated.

2. The competition for ordinary storage bags is fierce, but products with separate shoe storage functions can stand out. Can Amazon sellers follow suit? For example, individual scarves, hats, shoes, high boots, snow boots, separate children’s toys, ragdoll, Lego, etc.

3. Insight into consumer concerns from high-frequency keywords in the title, such as:

  • Transparent representation is visible and easy to quickly identify and retrieve. Is adding label function conducive to output conversion?
  • Is selling multiple packages more attractive to consumers?
  • The storage box itself can have a folding storage function, which does not take up space in the house when not in use?
  • The wardrobe and window sill under the bed are universal and adjustable in size. Is it a must-have for dormitories?

3. Competing product analysis

Basic information about competing products:

ASINB092ZDHJMNB085ZV98JMB09Q38H2J4B07VBJ5MSHB08JG3HYC8
Variant number16206715
Monthly sales5,1573,1721,6461,7291,637
Categories and rankingsHome & Kitchen:76Home & Kitchen:493Home & Kitchen:946Home & Kitchen:953Home & Kitchen:1324
Sub-categories and rankingsUnder-Bed Storage:1Under-Bed Storage:2Under-Bed Storage:3Under-Bed Storage:4Under-Bed Storage:7
Release date8/18/20213/16/20201/9/20228/22/20196/21/2020
Star rating4.34.34.24.54.6
Evaluation score14,79439,1134,21816,41971,668
Negative rating rate (1-2 stars)9%10%11%6%4%
Packaging size21.65″L x 13.78″W x 12.4″H23″L x 16″W x 13″H39″L x 20″W x 7″H29.3″L x 23.6″W x 5.9″H23.6″L x 16.9″W x 13.7″H
FBA fees$7.49$7.33$7.33$7.81$7.49

Competing product usage scenarios:

Key factors affecting the star rating of competing products: Not Sturdy

Research on competing products:

Research on competing products:

Unmet needs of competing products:

Whether it is the storage bag or the storage drawer we analyzed earlier, most of them exist in multiple colors and sizes on the Amazon market, which indicates that consumers have more choices. Having choices means that conversion is difficult, so precise positioning of the market becomes very important.

Therefore, focusing on professional groups such as students and workers, focusing on under-the-bed storage scenarios may be able to capture consumer psychology. To win orders, the most important thing is to solve the pain points of product quality. Consumers’ expectations for storage boxes are: stronger support and durability, able to meet actual storage needs.

4. Profit analysis

According to the hot-selling storage bag products on Amazon:

1. There is no obvious difference in size. The unfolded size of the product is 21.6 x 13.7 x 12.4 Inch as a reference, and the packaging size (foldable) is 12.2 x 10.6 x 4.7 Inch as a reference

2. The weight of the product is related to the number of products, with the best-selling variant number 6 as a reference, and the weight is 2.0 Pound

4. The in-app and off-app promotion fees for the product are based on operational experience, with a total of no more than 20%, which can be adjusted appropriately

ProductsSiteLogistics modeSelling price of goodsLength (inches)Width (inch)Height (inches)Weight (pounds)Net Profit ($)Gross profit margin
Storage bagUSAir transport$29.9912.210.64.72$2.819.37%
USMaritime transport$29.9912.210.64.72$6.2420.81%

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