PROSPECTS AND OPPORTUNITIES
Steady growth amid rising competition
The market for polishes in Malaysia is expected to see slow but steady growth over the forecast period, amid increasing competition. Leather shoe brands such as Larrie and Dans are expanding their offerings beyond just polishes, providing a full range of shoe care products like polishing cloths, brushes, waterproofing agents, mink oil, and leather balm, presenting consumers with a one-stop solution for shoe maintenance.
Convenience trend will hamper demand for furniture and metal polishes
Furniture and metal polishes are losing appeal among young homeowners, who often prefer to replace worn-out wooden furniture instead of investing in pieces that require high maintenance. As modern urban lifestyles become increasingly hectic, younger consumers increasingly prioritise convenience.
E-commerce will continue to gain traction, but physical stores will retain dominance
The online market for home care products will continue to grow, although at a slower pace than during the review period, as many consumers return to shopping in physical stores post-pandemic. E-commerce platforms such as Shopee, Lazada, and TikTok will attract consumers with price cuts, limited-time sales, vouchers, and in-store memberships, prompting them to hold off on purchases and stock up during promotional periods.
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Overview:
Understand the latest market trends and future growth opportunities for the Polishes industry in Malaysia 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.
If you're in the Polishes industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Polishes in Malaysia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Polishes in Malaysia?
- Which are the leading brands in Polishes in Malaysia?
- How are products distributed in Polishes in Malaysia?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 impacted demand? Where have sales increased due to stockpiling amidst national lockdown?
- How have enforced home seclusion and social distancing measures following COVID-19 changed usage patterns for Polishes products?
- Where is future growth expected to be most dynamic?
- How important will sustainability and recycling be in generating future growth?
Polishes in Malaysia - Category analysis
KEY DATA FINDINGS
Lifestyle changes dampen demand
Established brands dominate sales
Offline shopping dominates, but e-commerce continues to rise
Steady growth amid rising competition
Convenience trend will hamper demand for furniture and metal polishes
E-commerce will continue to gain traction, but physical stores will retain dominance
Home Care in Malaysia - Industry Overview
Home care in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for home care?
DISCLAIMER
The following categories and subcategories are included:
Polishes
- Floor Polish
- Furniture Polish
- Metal Polish
- Shoe Polish
Polishes
This is the aggregation of shoe, floor, furniture and metal polish.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Polishes research and analysis database.
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