With decreasing disposable incomes as a result of the pandemic and subsequent lockdown restrictions, and a greater focus by Nigerians on hygiene and home care products with disinfecting qualities, demand for polishes declined in 2020, as consumers prioritised their spending on perceived essential goods. The category is dominated by shoe polish, and with rising unemployment combined with white-collar employees adopting remote working policies wherever possible in addition to the closure of schools, there was reduced need to purchase shoe polish during the year.
Polishes remained an underdeveloped category in Nigeria at the end of the review period, with the niche of furniture polish the only other significant type apart from shoe polish. In addition, concrete flooring remains prevalent in low- to mid-income Nigerian households, adding to the low uptake of floor polish, with consumers more likely to use diluted bleach for their floor cleaning and polishing demands.
The competitive landscape of polishes remained fairly consolidated in 2020, led convincingly by shoe polish player Askco Group Nigeria with well-known brand Kiwi, which it locally distributes for global brand owner SC Johnson & Son Inc. Kiwi enjoys strong brand loyalty to some extent due to its reputation as an effective and durable shoe polish, its good quality and affordable pricing.
Polishes is set to experience a marginal upturn in demand in 2021 before recording strengthening volume growth over the remainder of the forecast period. This will be linked to a predicted stabilising economy from 2022, depending on the threat level of the virus.
From a much lower sale bases, furniture polish is predicted to record stronger volume growth momentum over the course of the forecast period, to marginally outperform shoe polish. Demand for furniture polish will be driven by a growing mid-income group, with these consumers increasingly investing in more expensive furniture that needs to be preserved and maintained.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Nigeria 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.
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This report originates from Passport, our Polishes research and analysis database.
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