Customer to Customer (C2C) is a business model whereby customers can trade with each other, typically, in the online environment. Two implementations of C2C markets are auctions and classified advertisements. C2C marketing has soared in popularity with the arrival of the internet, and companies such as eBay and Craigslist.
Separating ‘Customer To Customer (C2C)’
At its most basic level, C2C represents a market environment where one customer purchases goods from another customer using a third-party business or platform to facilitate the transaction. C2C businesses are a new type of model that has emerged with e-commerce technology and the sharing economy. The advantage for customers is that they benefit from the competition for products and they can often find items that are difficult to find elsewhere. In addition, margins are high for sellers because there are minimal costs due to the absence of retailers or wholesalers. C2C sites are convenient because there is no need to visit a brick-and-mortar store. Consumers simply list their products online, and the buyers come to them. In the case of eBay, items are shipped by the seller directly to the buyer.
Income and Growth of the C2C Market
C2C sites and comparative stages profit from expenses charged to merchants for posting things available to be purchased, including special highlights and encouraging MasterCard exchanges. These C2C transactions typically involve items sold through an arranged or closeout framework, and the items sold are regularly utilized.
The Customer to Customer market is anticipated to develop later on due to its cost-viability. The cost of utilizing outsiders is declining, and the measure of items available to be purchased by buyers is relentlessly rising. Retailers view it as an important plan of action on the grounds that of the ubiquity of web-based social networking and other online channels. These channels feature particular items officially claimed by buyers and increment request, which drives expanded online activity to C2C stages.
Be that as it may, Customer to Customer has a few issues, for instance, absence of value control or installment ensures. Is some cases, credit card installments may not be upheld in spite of the fact that the development of PayPal and other installment frameworks throughout the years has streamlined installments on C2C stages.
Example of the Rise of C2C
The C2C commercial center has expanded after some time as more organizations have entered the space to encourage C2C exchanges. Numerous organizations target specialty markets and list particular items to attract one of a kind customers.
For example, Amit Lakhotia, previous VP of installments at Paytm, left his position in January 2016 to seek after different endeavors, one of which was Tokopedia, one of Indonesia’s greatest online commercial centers. Tokopedia is a C2C retailer that gives a stage on which entrepreneurs can open small and fair size C2C endeavors (SME) of their own for nothing.
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