Volume sales of polishes in Russia have been declining not only due to economic uncertainty in the country, but also due to consumers shifting towards footwear, furniture and home design that do not require polishing. For example, there have been major changes in footwear fashion, with shoes that need less or no maintenance continuing to grow in popularity, especially among younger generations.
Furniture, floor and metal polish were all recording declining volume sales in Russia throughout the review period. Furniture polish has a declining consumer base due to changes in consumer preferences.
Cigir Kimya leads in shoe polish, the largest category. Its Silver brand is very well known among Russian consumers, and is considered to offer good value for money.
Categories in polishes will record declining or stagnating volume CAGRs over the forecast period, although rising unit prices will help the various polishes categories to record positive current value CAGRs. Performances in volume terms are expected to improve slightly as the forecast period progresses, given the fact that the Russian economy will still be struggling in its early years, with the pandemic’s economic impact having added to the pressure on consumers’ disposable incomes.
The struggles for polish products will also continue to be down to changes in the footwear people use or floor and furniture designs that do not need regular, or any, polishing. As less formal footwear, such as sneakers/trainers, continues to proliferate, this means less use of the type of formal footwear that needs polishing.
While not a promising growth area, shoe polish might still have some hope in the forecast period in the case of changes in fashion. Based on present trends, however, this scenario is not very realistic.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of shoe, floor, furniture and metal polish.See All of Our Definitions
This report originates from Passport, our Polishes research and analysis database.
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