Different kinds of competition exist in polishes, but the major factor impacting this competition and shaping consumer behaviour is pricing. Most consumers within the low and middle income brackets are still price sensitive, hence economy and standard brands continue to dominate sales of polishes.
Growth in polishes is expected to slow down slightly over the forecast period, mainly owing to the increasing maturity of furniture polish. Value growth will also be constrained by high unit prices in most categories, making them unaffordable for a large proportion of the consumer base.
Although polishes in general are enjoying good sales, some categories, like floor polishes, are not likely to see the same rate of growth over the forecast period. This is owing to the increasing trend of constructing with tiles that simply need to be cleaned with detergent.
Kiwi maintained its strong lead in shoe polishes in 2018, which helped SC Johnson & Son Inc to lead overall sales of polishes, along with its other brands. Thanks to its long presence and reputation for high quality, the brand sustained its position as the preferred option, especially in shoe polish.
International players have a longstanding presence in the market and a reputation for good quality. This trend will continue and consumers will continue to demonstrate loyalty by trading up in various categories of polishes.
Polishes is characterised by a low level of development and a lack of new products. Home care companies continue to focus their research and development resources on more dynamic and much more attractive categories.
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This industry report originates from Passport, our Home Care market research database.