5 Things You Should Know About B2C
Knowledge Base | By: Mansi
In the first installment of the series, we discussed what B2B means. In this article, Jewelxy discusses the term B2C popular in the online business world, especially, in the Gems and Jewellery industry.
Below is some brief information to get started on what B2C means:
1. B2C is about delivering finished good or service to the end customer
B2C is the acronym for Business-to-consumer transactions. A B2C transaction has the end buyer avail the finished product/service.
It can mean a series of things including buying daily groceries, purchasing that shirt or subscribing to Netflix online, for instance.
2. B2C is about retail business
Unlike B2B where the commercial transactions happen between two businesses, in B2C, the transaction happens between a business and a customer.
3. B2C does not involve bulk purchases usually
B2C usually involves the end customer purchasing only as much as s/he needs. However, under exceptional circumstances, for instance, when the end customer may be organizing a big party, bulk purchasing of food items, beverages etc. may occur.
4. B2C transactions are usually irregular
It depends on the types of products and services. Daily necessities such as groceries, fuel etc. have regular purchases. However, high end goods or services like dining, watching a movie, purchasing clothes etc. are likely to be irregular and may vary depending on the customers’ habits.
5. B2C is the most familiar model of buying and selling
The B2C model has been in force ever since the barter system was invented. Now it has moved to the digital world where the payment is either cash on delivery or is prepaid online.