The material seems sturdy enough, but I'm not sure how it well it would protect your stuff against the rain/water.   It seems like the lid doesn't close tight enough and water could possibly leak in, but I don't know.  I'm using this as storage in my sun room so I have not test it out in the rain.   

Pros: Easy to put together (5-10 mintutes)
Cons: It seems like the lid just sit on top of the box and with a little wind, it might just fly open.