In 2020, there was an overall decrease in retail current value and retail volume sales as home seclusion, the switch to working from home and other lockdown measures had a negative impact on consumers’ polishing routines. During the national lockdown period, consumers could not receive house guests and, as consumers were working from home and cleaning their homes more frequently, many consumers reduced the frequency of polishing.
In response to the reduced demand for products in polishes, companies in the category intensified their promotional strategies in 2020 to support sales to increasingly price sensitive consumers in the UAE. As such, players in polishes offered extensive promotions with widespread discounts in pricing as well as dual/triple pack offers.
Apart from the development of basic varieties of products in polishes, and the usual offerings of different colours and formats, there have not been any new product launches or innovations in any product areas in polishes in 2020. In this sense, polishes distinguishes itself from other categories in home care in 2020 which attempted to stimulate consumer interest with new products and innovative added value features.
In recent years, business and official dress codes have become progressively casual as companies seem to prefer to allow their employees to wear more comfortable clothing at work. During the COVID-19 pandemic, there has also been an increase in the opportunities for consumers to switch to working from home or more flexible working hours and patterns.
Companies in polishes are expected to intensify discount and promotional activities in the forecast period to stimulate volume sales. These promotions will likely take the form of multibuy offers in the forecast period, which will stimulate volume sales as consumers will be motivated to save money by purchasing larger quantities of products in polishes.
Due to a long-standing absence of innovation and new product development in polishes, consumer interest has reached an all-time low and this waning interest will limit sales in the forecast period, especially in the first half of the forecast period when consumer spending will be limited by financial uncertainty in the wake of the COVID-19 pandemic.
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This report originates from Passport, our Polishes research and analysis database.
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