Australia polishes market: Decline in CAGR of -3% between 2012-2017

Press release   •   May 01, 2013 14:16 BST

The competitive landscape across the Australia polishes market remained largely unchanged over the review period, with leading brands such as Kiwi in shoe polish and Mr Sheen in furniture polish continuing to dominate sales. A lack of consumer interest and stagnant growth has left little incentive for manufacturers to innovate or spend heavily on advertising.

After falling by 1% in 2011, in 2012 polishes current retail value sales fell by a further 2%. Floor polish was the best performer, however, with current retail value sales in the area falling by <2%. Furniture polish remains the largest area in value terms but continues to contract, registering a 2% decline in current retail value sales in 2012. As in previous years, furniture wipes continue to provide a more enticing proposition to consumers, based mostly on convenience.

In the face of further decline, manufacturers will need to innovate in order to renew interest in the area and encourage growth. Product development is likely to be negligible and price promotion is forecast to remain a key part of the area in order to induce sales – a fact which will limit growth. One area of potential growth is polishes for electronics, with Reckitt Benckiser launching a product variant of Brasso, Brasso Gadget Car, over the review period to move into this area.

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