The first thing I do is lift the lid and check how it holds itself open. Too many of these have a weak hinge or no support at all, so the lid just hovers there threatening to come down on your fingers the second you reach in for an extra blanket. A good one has a proper stay, something that holds it at ninety degrees without you bracing it with your shoulder like you're defusing a bomb.
At the foot of a bed it does double duty as a place to sit while you put your shoes on and a spot to stash the extra pillows nobody wants on the bed at night. In an entryway it works as a landing pad for mail and keys on top, with the real mess, the muddy boots and the dog leash and the umbrella nobody ever remembers to grab, hidden underneath. In a living room it can sit in for a coffee table or back up against a wall under a window, holding board games and the throw blankets that otherwise end up in a heap on the floor. It plays well with things people already own, a plain runner rug, a basket or two stacked beside it, nothing fussy.
For finishes, I'd steer toward a solid wood tone or a simple painted neutral, something like a soft gray or a muted navy, because those hide the scuffs from being kicked, sat on, and used as a step stool to reach the top shelf more than anyone will admit. A woven or linen look upholstered top is forgiving too, as long as it's a performance fabric, because a pale velvet top on a bench that's about to become the dog's favorite perch is a decision you'll regret by the first rainy week.
Where it falls short is anywhere that needs frequent, fast access to what's inside. If you're storing things you reach for daily, the lid becomes a chore instead of a convenience, and you'll end up leaving it propped open all the time, which defeats the point. It's also not great for heavy, dense items like books in any real quantity, since most hinges and frames aren't built for that kind of weight held above a seat someone is also meant to sit on. And if you've got a narrow hallway, measure twice, because a bench that looks modest in a showroom photo can turn a walkway into an obstacle course once the lid is open.
The one mistake to avoid is buying on looks alone and skipping the hinge test, because a storage bench that can't hold its own lid open isn't a storage bench, it's just a box with a cushion on it.