Polishes continued its steady decline in 2020, despite the outbreak of COVID-19 increasing consumers interest in cleanliness. This is due to consumers shifting from deep-cleaning to more frequent general cleaning of the household.
The outbreak of COVID-19 worsened an already bad situation for shoe polish. Shoe polish has struggled in Norway, with declining demand across the review period, due to the casual clothing trend.
Metal polish, floor polish and furniture polish all registered declining volume sales in 2020; however, COVID-19 did somewhat slow down a stronger rate of decline. While general cleaning products are gaining much higher sales from the outbreak of COVID-19, consumers, especially the older generation, that do continue to use polishes, boosted sales throughout the pandemic, as they enhanced their regular cleaning routines.
Much like in 2020, polishes will continue to record low levels of growth across the forecast period, resulting in a CAGR of under 1%. The generational shifts will exacerbate the reduced demand for polishes.
The highly concentrated competitive landscape in polishes, led by Arvid Nordquist Norge AS and Jensen & Co AS, will hinder new entrants across the forecast period. Due to polishes being a comparatively unpopular category, stores often offer a limited selection of familiar brands, making it difficult for smaller brands to enter.
Little growth possibilities exist for polishes across the forecast period, and this is set to continue stifling growth for the product. With the eco-friendly trend rising in Norway, a stronger focus on sustainability and the use of fewer chemicals could add value, with the offering of recyclable or recycled materials appealing to consumers.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Norway 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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