It is quickly showing wear and tear because the wicker is so fragile. Even if your shoe only lightly brushes by the corners at the bottom of the ottoman when walking past it the wicker gets torn off. I moved it to a more out-of-the-way spot so that it is subject to less living room foot traffic, but even putting something on top of the lid, like a laptop, crushes the wicker.
The relatively cheap price was perfect for me so I cannot complain that much about its durability. It does hold a considerable amount of things inside and it still looks good, but I don't know how good it will look this time next year.