C2C E-commerce Market — Trends and Opportunities for the Industry by 2024

Market-Research

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.

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.

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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.

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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.