The strong value sales growth in the polishes category during 2022 and 2023 was largely fuelled by rampant inflation following the aftermath of the COVID-19 pandemic. The swift return of demand, coupled with disruptions in both international and domestic supply chains, led to higher costs for manufacturers and retailers.
New Zealand is currently grappling with a chronic housing shortage, prompting significant policy proposals from major political parties during the 2023 New Zealand General Election. These proposals aim to address the housing supply issue through reforms to planning and consenting processes, coupled with substantial investments.
The official entry of New Zealand into a recession in 2023, coupled with uncertainties leading up to the election and high-interest rates, has impacted consumer discretionary spending, housing construction, and appliance sales – all of which have implications for the polish category. The focus on addressing the country's housing shortage, a prominent topic in the 2023 New Zealand General Election, is expected to be a key driver in New Zealand's post-COVID-19 economic recovery.
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Understand the latest market trends and future growth opportunities for the Polishes industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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