PROSPECTS AND OPPORTUNITIES
Growth set to continue, but furniture and metal polish will struggle
Growth in polishes is set to continue in Vietnam throughout the forecast period, driven by shoe polish. White-collar workers are expected to be keen to maintain a professional appearance, which will lead them to spend more on higher-quality footwear and its maintenance.
Marketing and wider distribution could contribute to growth
Currently, polishes lacks sufficient marketing activities from brands across both offline and online channels. As a result, consumer awareness of brand names is somewhat limited, often relying on recommendations from staff at traditional stores.
Versatile products which simplify polishing likely to perform well
Aligned with current trends, which are expected to continue throughout the forecast period, consumers are increasingly seeking polishes that save time and simplify tasks, such as bottle caps designed to dispense the product more efficiently in hard-to-reach areas. Meanwhile, multi-surface polishes that work on various materials, such as wood, metal, and leather, eliminate the need for separate products, making cleaning more efficient and time-saving, which could appeal to cost-conscious consumers looking for value.
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Overview:
Understand the latest market trends and future growth opportunities for the Polishes industry in Vietnam 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 Vietnam, 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 Vietnam 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 Vietnam?
- Which are the leading brands in Polishes in Vietnam?
- How are products distributed in Polishes in Vietnam?
- 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 Vietnam - Category analysis
KEY DATA FINDINGS
Demand for premium shoe polish to maintain high-end footwear drives overall growth for polishes
Consumers look for polishes which offer shine, durability, and ease of use
Gel format seen as a more practical choice than liquid
Growth set to continue, but furniture and metal polish will struggle
Marketing and wider distribution could contribute to growth
Versatile products which simplify polishing likely to perform well
Home Care in Vietnam - 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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