C2C

Definition

C2C, or consumer-to-consumer, refers to a business model where individuals sell products or services directly to other individuals, often facilitated by an online platform. This model has gained popularity with the rise of e-commerce, allowing consumers to engage in transactions without the need for traditional intermediaries. C2C is often associated with platforms that encourage peer-to-peer interactions, enabling users to monetize their unused goods and services while fostering a sense of community among buyers and sellers.

5 Must Know Facts For Your Next Test

1. C2C platforms often utilize technology to streamline transactions, providing secure payment options and user reviews to build trust among users.
2. Popular C2C examples include eBay, Craigslist, and Facebook Marketplace, which allow users to list items for sale and interact directly with potential buyers.
3. The rise of social media has further fueled C2C commerce, as users can share listings and reach a larger audience within their networks.
4. C2C can lead to competitive pricing for consumers, as sellers often set their prices based on market demand rather than fixed retail prices.
5. This model promotes sustainability by encouraging the resale and recycling of goods, which can help reduce waste and extend the lifecycle of products.

Review Questions

• How does the C2C model differ from traditional retail models in terms of consumer engagement?
  • The C2C model differs from traditional retail models by facilitating direct transactions between consumers without the involvement of established retailers or wholesalers. This model encourages greater consumer engagement, as buyers and sellers interact directly, allowing for negotiation on prices and personalized communication. Additionally, C2C platforms often create a community environment where users can share experiences and recommendations, enhancing the overall buying and selling experience.
• Evaluate the impact of technology on the growth of C2C commerce in recent years.
  • Technology has significantly impacted the growth of C2C commerce by providing users with easy access to online platforms that facilitate peer-to-peer transactions. With the advent of secure payment systems, mobile applications, and social media integration, consumers can effortlessly buy and sell goods from anywhere. This technological evolution has lowered barriers to entry for individuals looking to engage in commerce, leading to a surge in C2C activity and reshaping consumer shopping behaviors.
• Synthesize the social and economic implications of a growing C2C market on traditional retail businesses.
  • The growth of the C2C market poses both challenges and opportunities for traditional retail businesses. On one hand, increased competition from C2C platforms can lead to reduced sales for retailers as consumers may prefer purchasing second-hand goods or unique items directly from other individuals. On the other hand, traditional retailers can leverage insights from C2C trends to enhance their own offerings by incorporating more personalized services or embracing sustainability through reselling programs. Ultimately, the relationship between C2C markets and traditional retail will shape future consumer behaviors and strategies within both sectors.

Related terms

Marketplace: An online platform that connects buyers and sellers, allowing them to conduct transactions directly with one another.

Peer-to-Peer (P2P): A decentralized model where individuals interact and transact directly with each other without intermediaries.

E-commerce: The buying and selling of goods and services over the internet, encompassing various business models including B2B, B2C, and C2C.