C2C is
a category of e-commerce which allows consumers to interact with each other.
This model of e-commerce facilitates transactions of products or services
between consumers. In business to consumer model, a consumer approaches a
business to purchase goods or services. In C2C model, the business provides a
platform where consumers can sell products or services to each other. The main
goal of C2C is to help buyers find sellers. This benefits both the parties. A
buyer finds a product or a service which would have otherwise been hard to find
and a seller benefits by selling the product or a service. The platforms for
such transactions are usually provided by third parties, which act as
intermediaries between the sellers and buyers. For instance, online portals
such as E-bay facilitates sellers to post their goods or services online that
is available for consumers to purchase. In such transactions, the third party
may charge a transaction fee or commission. Products sold on these websites can
be new or second hand.
The
proliferation of Internet services across the world and the significant
increase in the use of smartphones can be attributed as major factors to
facilitate the C2C e-commerce market
growth. Users can sign-up on online portals providing C2C services and begin to
buy or sell desired products or services. The reduction in the costs of these
products and services, due to the absence of middlemen, wholesalers and
retailers involved in the transaction has further aided to the growth of global
C2C e-commerce market. Moreover, sellers are no longer restricted to local
regions and can reach national and international audiences. Furthermore, the
need of capital investment on outlet stores is eliminated and the inventory
costs are reduced. This enables the sellers to sell their products at higher
prices and at the same time buyers can purchase them at comparatively cheaper
prices. Also, the convenience associated with this model with regards to ample
choices available to buyers is an advantage for the subscribers of such
portals. The advent and increasing popularity of online payment systems is
expected to fuel the growth of C2C e-commerce, globally. However, Internet
frauds and identity threats, absence of payment guarantees are the hurdles in
adoption of these services. C2C websites have no control over the quality of
goods being sold on them as they only act as intermediaries. The possibility of
illegal or pirated products sold through such websites is a threat to the C2C
market.
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On the
basis of source of revenue, the C2C e-commerce market can be broadly segmented
into classifieds and auctions. Classifieds can be further segmented into
products and services. In terms of geography, C2C e-commerce market is
segmented into North America, Europe, Asia Pacific, Middle East and Africa
(MEA) and Latin America. North America is one of the leading regions in the
global market because of high penetration of Internet and a large number of
smartphone users. Asia Pacific is expected to witness rapid growth in the
coming years due to the rise in Internet and smartphone users, mainly in China
and India.
The key
players in the C2C e-commerce market include eBay Inc, Amazon.com, Inc.,
Craigslist, Inc, Taobao.com, OLX, Inc, Quikr India Private Limited , uBid.com,
Auctions.com and Airbnb, Inc.
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report offers a comprehensive evaluation of the market. It does so via in-depth
insights, understanding market evolution by tracking historical developments,
and analyzing the present scenario and future projections based on optimistic
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Regional markets, technology developments, types, applications, and the
competitive landscape.
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