LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global adult stores market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global adult stores market is expected to witness steady growth during the forecast period as the demand for sexual wellness products increases from various population segments, especially the LGBT community. The major revenue-generating countries in the global market are increasingly accepting the LGBT community as part of the society, thereby leading to the growth of the market.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector, says, “Technological innovations such as virtual-reality technology, connected devices through Bluetooth, mobile applications, and teledildonics are creating an ever-diversified collection of products, thereby affecting the growth of the market globally. However, this market growth is expected to be slightly offset by irregularities in product manufacturing, which can lead to side effects for the consumers.”
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The top three emerging trends driving the global adult stores market according to Technavio research analysts are:
- Growing internet and smartphone penetration
- Increasing number of trade shows for adult novelty products
- Emergence of alternative marketing strategies
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Growing internet and smartphone penetration
The advent of technology has affected consumer shopping behaviors and their buying practices as an increasing number of users are connected to the internet. The ease of accessibility of the internet has been compounded by an ever-growing penetration of smartphones globally. While the increasing internet and smartphone penetration are crucial for building and increasing an online presence for the vendors, a connected world will also be crucial to spreading product promotion information, which, in turn, is likely to increase the consumer base for online as well as adult and specialty stores.
“In countries such as India, leading technology companies have made available affordable internet plans to consumers in the country, which has led to a digital revolution in the country. In the future, the country is likely to have even a greater number of smartphone users than the current estimates,” according to Amber.
Increasing number of trade shows for adult novelty products
Trade shows are an excellent platform for showcasing products for vendors who use these events to showcase their new products. Leading vendors in the market even launch an entire range of products at these trade shows and aim to enhance consumer awareness through fliers and free product sample distributions.
As the global prevalence for these trade shows is set to increase, it is highly likely that these will be used more often by vendors to exhibit their products, and consumers would want to visit these trade shows to understand better and increase their awareness about these products.
Emergence of alternative marketing strategies
Apart from digital media, conventional marketing campaigns have also been replaced by innovative measures where the benefits of sexual wellness products are being promoted to the consumers, thereby supporting market growth.
In August 2016, CalExotics, in collaboration with Living Beyond Breast Cancer, launched a line of breast massagers and vibrators aimed at increasing awareness of the side effects of breast cancer and how these products can counter the ill-effects of decreased libido, which usually accompanies breast cancer.
The key vendors are as follows:
- California Exotic Novelties (CalExotics)
- Doc Johnson
- Reckitt Benckiser
- The Pleasure Chest
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