The moderately positive volume growth that is expected to be seen in polishes during the forecast period is an indication of the low sales base from which sales are rising and the relative immaturity of demand for these products. Urbanisation, economic development and the emergence of a large group of affluent young urban professionals in Belgrade and cities throughout the country present strong opportunities for the leading brands in all categories of polishes to expand their respective consumer bases.
While the forecast period is expected to see demand for polishes continues to rise, volume sales in the category could be put under pressure due to the preference among many consumers for surface care products that have added polishing functionality. For example, the variety of products present in floor polish and furniture polish remains quite narrow and there is only a limited range of brands available.
The innate price sensitivity of most Serbian consumers is set to continue having a negative influence on sales of polishes during the forecast period. In particular, high inflation is expected to remain in effect throughout 2023 and into 2024 and this is likely to result in widespread economising among the majority of Serbians.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Serbia 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 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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