Despite an increasing consumer interest towards cleaning homes during the time of lockdown, sales of polishes declined even further in 2020. Since polishes do not provide the cleaning and sanitising purposes that were of utmost importance to consumers due to COVID-19, polishes struggled with even lower demand in 2020.
In 2020, furniture polish recorded the worst current retail value decline due to a myriad of reasons. On top of the waning priority of cleaning furniture, declining demand was also a result of strong competition from furniture wipes that are more convenient to use.
Following furniture polish, shoe polish recorded the second worst current retail value decline in 2020. Italians are increasingly taking a more casual approach to their attire, with the global athleisure trend resulting in a more relaxed approach to footwear, including the wearing of ‘sneakers’ which are easily wiped clean with a damp cloth.
The outlook for polishes in the forecast period is rather unfavourable. While a better performance is expected in comparison to 2020, polishes is set to continue declining in current retail value terms in the forecast period, albeit at a slower rate.
In the forecast period, floor polish is set to show the most promising current value CAGR, although still negative. One detrimental factor inhibiting the sales of floor polish is the fact that most consumers consider it to be a time-consuming activity.
Shoe polish may have some hope for strengthening its presence in the forecast period. In general, physical stores, especially those located in historical city centres, are forecasted to continue their decline due to the long-term effects of the pandemic.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Polishes industry in Italy 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 Italy, 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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page