Polishes in Greece

PROSPECTS

Furniture, metal and floor polish decline due to changing consumer trends

For another consecutive year, polishes saw a strong retail current value decline in 2019, with all categories seeing falling sales. Construction and home design trends are playing a key role in losses in furniture polish, metal polish and floor polish.

Shoe polish also sees decline due to the popularity of casual footwear

The largest category within polishes remained shoe polish in 2019. However, sales in this category also declined, due to fashion trends favouring a shift away from leather and formal shoes and towards more casual footwear which does not require polishing; especially sports shoes, but also shoes made of alternative materials such as different fabrics.

Maturity and lack of investment will hinder the growth potential

Polishes is a dated and dying category that is suffering from maturity and lack of investment from companies, which could attract consumers’ attention. Furthermore, changes in lifestyles and consumer demands are also hindering the growth potential.

COMPETITIVE LANDSCAPE

GR Sarantis maintains its lead due to its strong position in shoe polish

Domestic manufacturer GR Sarantis remained the leader in polishes in value terms in 2019, with its Camel brand of shoe polish. The company also posted growth in its value share in this year.

Bolton Hellas and SC Johnson & Son Hellas are the leading multinational players

Bolton Hellas and SC Johnson & Son ranked second and third respectively in polishes in value terms in 2019. They were the leading multinationals in the category, followed by Reckitt Benckiser, which ranked fourth.

Private label share small but rising slowly

The share held by private label is small in polishes. However, its share increased slowly from 2016, as more consumers were reluctant to pay higher prices for branded products.

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