COVID 19 better known as corona virus disease 2019 has had a huge impact on the people throughout the globe. This deadly disease has claimed a lot of lives in the world leaving families around the globe helpless. Even though the enemy is hardly visible, the destruction that it has caused is widespread.
Almost all the countries in the world have been effected and the one in lead is America.
So what impact has it had on the global economy? According to IMF, the global economy is expected to shrink a whooping 3 percent in 2020, the fastest and steepest slowdown since the Great Depression in 1930s. The lockdown in the countries has rendered a lot of people jobless hence crashing the economy. Hence it has also had some repercussions on the adult toy market specifically offline shops.
Bangalore city in India is one of the most highly populated states and hence it has been affected quite a lot. Due to the lockdown, both offline and online market in Bangalore has suffered. But we have to keep in mind that there has been a positive impact as well. Slight lift in the lockdown has seen a shift in people to use the online market more than the offline market to break the contamination change.
People are now more inclined to shop online than offline. This has shown a positive boost in the online industry. Adult product market has been one of the most profitable markets in the industry. Not only the tier I and tier II cities are responding well but there has also been a considerable contribution of a whooping 18% from the tier III and tier IV cities. There has been a surge in the online market of sex toys in Bangalore owing to quarantine. Quarantine has given people the time to spend with their loved ones. A lot of people have preferred to spend time making love to their partners or just having a self love session thereby the surge in the market.
According to global data, the coronavirus pandemic will accelerate the growth of Indian e commerce market, pushing it to ₹7trillion by 2023. The COVID-19 pandemic has greater implications on Indian buyers as they are now pushed to embrace the concept of online shopping. The contactless delivery system has also contributed to this. Major websites of sex toys in Bangalore has also confirmed the same.
Bangalore is the Silicon Valley of the country, hence is quite developed. The digital wave has made everything accessible to the consumers, just a click away hence making online sex toy shopping easier and safe. Hopefully, by the end of the pandemic online sex toy shopping will have a more reliable reputation making it highly profitable in all the cities in India including Bangalore.