I have given this lots of thought and it can be made to work if you have the parts to keep the shelves from "jumping" off the supports.
We settled on 1/16th thick aluminum angle supports and 1/4" to 3/8" Baltic ply shelving at about 14" to 26" wide. We have also found shallow drawers work well for clothes, socks, etc. The shelves can be secured to the aluminum angle with small screws and nuts.
I would consider dividing up the 36 to 40 in wide space into some smaller cubbies using 1/4" ply for dividers and shelves while leaving one cubby full width.
Vinyl covers with snaps can keep the space looking tidy and keep the contents from spilling out.
Just a thought.
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