Prior to the pandemic, polishes was witnessing declining current value sales due to the product area being perceived as outdated. For example, younger generations now buy excessive amounts of clothing, and simply replace damaged or worn items, rather than repairing or maintaining them.
Floor polishes will continue to witness declining demand in 2020, however this has little to do with the pandemic. The recent interior design trend is towards more neutral tones, meaning that a shiny floor is not as popular as it was a few years ago, which in turn reduces demand for floor polishes.
Danshar Ltd will maintain its dominant position in polishes in 2020, with a strong value share gain. Its leading position is due to Kiwi its shoe polish brand, which dominates the product area and keeps growing at the expense of smaller competing brands.
Polishes is expected to continue seeing declining demand and current value sales over the duration of the forecast period; however, this will have little to do with the long-term effects of the pandemic. However, the declining current value sales will be slower in 2021 than that seen in 2020, as the financial backlash of the pandemic has had some impact on polishes.
Prior to the pandemic, an increasing number of people shifted to the use of professional services rather than buying polish to maintain products themselves. This was particularly evident with regard to floors and shoes, as a professional polish is more effective, and the shine more vivid, than home products purchased and applied by the consumer.
Over the forecast period, polishes is expected to continue witnessing declining current value sales and demand. Producers will need to focus on significant innovations that focus on growing trends such as the eco-friendly trend if they are to continue generating sales and maintaining their shelf spaces.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Israel with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Polishes industry in Israel, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Polishes research and analysis database.
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