Finance & Business

Sex toys industry is booming thanks to social distancing

Why should sex toy sales go up during social distancing? After all, most sex toys are not like toilet paper. Chances are that either more “self-love” and other sexual activity is occurring or people are trying to find ways to add more variety to each. The pandemic and social distancing can leave you feeling more stressed, isolated, lonely, and bored. The range of things to do is more limited.

Sexual activity can provide some assistance with each of these. It can help pass the time, it can stimulate the release of hormones such as dopamine, the so-called “happiness hormone”, endorphins, the so-called “natural pain reliever”, and oxytocin, the so-called “love hormone.” Sounds like a good thing, right? However, there’s one problem with having sex with someone else. It requires someone else! Maintaining social distancing and at least a six foot distance from each other can be challenging during sex.

Over time “giving yourself a hand” in the same way over and over again may get repetitive and monotonous and prompt you to say, “oh, you again.” Perhaps, you need something to spice things up for yourself. Moreover, sex toys can facilitate the whole sex-with-a-partner-at-a distance thing in various ways. If you have to stay at least six feet away from your partner, perhaps a sex toy could serve as a “representative” or an “ambassador” of yourself or rather part of yourself. Thus, it’s not surprising that sex toy sales have risen.
According to a recent report by Research Dive, the global sex toys market is forecasted to reach $49,705.7 million at the CAGR (Compound Annual Growth Rate) of 9.2% by 2026, rising from $24,929.0 million in 2018.

The importance of sexual health is being promoted by various companies and organizations through the use of female sex toys. Sexual awareness campaigns encourage women to practice safe sex, to take care of their sexual health issues and empower women to own their sexuality through female sex toys. Therefore the female segment held the global sex toys market share in previous years, which was 63.2% and is projected to continue same dominance over the global market during the forecast years. This growth is attributed to wide utilization of sexual enrichment devices by females. Besides women, the men segment will witness to grow at a moderate CAGR of 9.0% and projected to generate a revenue of $18,092.9 million by 2026. The rapid growth in the availability of portable, rechargeable and noiseless devices for both males and females, which will drive the market growth in the forecast timeframe.

Nonetheless, the more the market key players are emphasizing on research and development, merger and acquisition, and other strategies there is no question of a doubt that the market growth will be restored in the upcoming years. Read more articles here

Finance & Business

Octav Moise Set To Retire From Industry; Sells Paxum Brand And Assets

Octav Moise clarified exclusively to BCAMS Magazine that he sells the Paxum brand and the assets. This sale was not related to the controversy surrounding Paxum Bank in Russia. PAXUM Bank and Paxum Inc. are not part of the same group and are not connected in any way, offering independent services and operating in different fields.

“It has been both a privilege and a pleasure to lead the development of Paxum into one of the premier global payment platforms,” he said. “I have truly enjoyed working with so many talented and devoted colleagues, and building long-term relationships with our clients. I am proud of our many accomplishments and I look forward to making a smooth transition with as little disruption as possible to the positive momentum that Paxum has established.”

Moise has been at the helm of Paxum for 16 years. Under Moise’s stewardship, Paxum has won multiple Awards for Payment Services Company of the Year. Currently, “he is enthusiastically pursuing business in the renewable energies field,” said a rep.

He went on to add, “I know I’ve made a difference with Paxum, and I’m satisfied I’m leaving Paxum in capable hands moving forward. In fact, I’d like to take this moment to acknowledge and thank my many friends, clients, colleagues and the entire industry for all the support and memorable moments we’ve enjoyed together over the years. I’m excited for my future projects, and I hope our paths will cross again.”

We wish you good luck with your new projects, Octav!

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