Business to Consumer (B2C)
Candlefocus EditorB2C is closely linked to the concept of e-commerce, as digital transactions are typically required for all commercial activities. Additionally, B2C has also been closely associated with the idea of digital marketing, as customers are highly likely to access product information and reviews online. As such, marketing plays a key role in helping businesses reach a wider base of customers and increase their profits through sales of products and services.
B2C empowers both businesses and consumers by enabling companies to reach out to a huge population of buyers in a short amount of time and for shoppers to benefit from selection and convenience of buying products remotely. B2C also improves customer shopping experience, as it offers a single point of contact for ordering and tracking of shipments, and customizable access to a variety of products and services.
The most well-known example of B2C is Amazon – the leading e-commerce platform that allowed companies of all sizes to provide a wide array of products and services to customers. This model of B2C allowed Amazon to quickly become the largest e-commerce retailer on the Internet.
As more companies turned to B2C, the traditional brick-and-mortar stores felt a seismic shift in the competitive environment. This shift in competitive environment was due to the lower markuo prices offered by B2C sellers, which decreased the profit margin of traditional retailers. This kind of competitive disruption caused by B2C businesses has been seen in numerous industries, with an increasing number of companies focusing less on creating physical product stores and more on engaging customers online.
Despite the disruption caused by B2C businesses, the advantages of this economic model far exceed the risks. As such, B2C is becoming a critical part of modern business operations and provides a route to success for many companies. Despite the competition, businesses that have embraced B2C have found success in selling products, services, and experiences to customers around the world.