Continuing the trend from the end of 2023, inflation is expected to moderate but remain elevated in 2024. The softening of consumer sentiment is therefore likely to continue amidst lingering cost and demand pressures, and consumer spending will be subdued.
In addition to the economic situation, growth in polishes is also expected to be hampered by other factors. For instance, there is a limited brand presence, and limited shelf space for products other than the leaders.
Formal leather shoes are still seen as essential by many working professionals, although the increasing acceptance of wearing causal and flexible attire such as casual sneakers and other non-leather shoes to work is expected to impact demand for formal footwear and associated shoe polishes. Indeed, shoe polish may no longer be viewed as a necessity amongst younger consumers.
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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.
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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