Business, Legal & Accounting Glossary
Sales made directly to the end-user, rather than through another business entity.
B2C is the abbreviation for business-to-consumer electronic commerce. B2C is an electronic Internet-facilitated medium where products or services are sold from a company to a consumer. There are five classifications of B2C electronic commerce: direct sellers, manufacturers, online intermediaries, advertising-based models and community-based models. Direct sellers are the most well-known B2C companies. These B2C businesses include e-tailers and manufacturers. B2C can be used to sell virtually any type of product online. B2C electronic commerce offers the following advantages: convenience, real-time changes in products and price and an enhanced buying experience. B2C also faces some challenges. The two main B2C issues are building traffic and sustaining customer loyalty. Those who have mastered B2C electronic commerce know the value of effective communication and also the value of the B2C customer.
After spending twenty years only selling to other retail establishments, the company decided to move into business-to-consumer sales, and opened their first store in the city’s main shopping mall.
The rise in internet sales has made it easier for smaller companies to develop a direct B2C market.
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This glossary post was last updated: 13th February, 2020 | 1 Views.