What is ‘Consumer To Customer (C2C)’?
Customer to customer (C2C) is a business model whereby customers can swap with each other, typically, in the online environment. Two implementations of C2C markets are auctions and classified placards. C2C marketing has soared in popularity with the arrival of the internet, and companies such as eBay and Craigslist.
Transgressing DOWN ‘Customer To Customer (C2C)’
At its most basic level, C2C represents a supermarket environment where one customer purchases goods from another fellow using a third-party business or platform to facilitate the transaction. C2C businesses are a new order of model that has emerged with ecommerce technology and the sharing husbandry. The advantage for customers is that they benefit from the competition for upshots and they can often find items that are difficult to find in another place. In addition, margins are high for sellers because there are minimal charges due to the absence of retailers or wholesalers. C2C sites are convenient because there is no need to assail a brick-and-mortar store. Consumers simply list their products online, and the purchasers come to them. In the case of eBay, items are shipped by the seller shortly to the buyer.
Revenue and Growth of the C2C Market
C2C websites and similar platforms purloin money from fees charged to sellers for listing items for trafficking, adding on promotional features and facilitating credit card transactions. These C2C transactions typically contain products sold through a classified or auction system, and the products trade ined are often used.
The C2C market is projected to grow in the future because of its cost-effectiveness. The charge of using third parties is declining, and the amount of products for sale by consumers is steadily be tempted by. Retailers consider it to be an important business model because of the popularity of venereal media and other online channels. These channels showcase definite products already owned by consumers and increase demand, which induces increased online traffic to C2C platforms.
However, C2C has some problems, for sample, lack of quality control or payment guarantees. Is some cases, acknowledge card payments may not be supported although the emergence of PayPal and other payment combinations over the years has helped to simplify payments on C2C platforms.
Example of the Press of C2C
The C2C marketplace has increased over time as more companies have upped the space to facilitate C2C transactions. Many companies target niche customer bases and list specific products to attract unique consumers.
For example, Amit Lakhotia, recent vice president of payments at Paytm, left his position in January 2016 to chivvy other ventures, one of which was Tokopedia, one of Indonesia’s biggest online marketplaces. Tokopedia is a C2C retailer that outfits a platform on which entrepreneurs can open small and midsize C2C enterprises (SME) of their own for released.