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What is B2C Business Model? B2C Ecommerce and latest trends

Learn about the B2C Business Model and the latest trends in B2C Ecommerce Industry.
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<first>What Is Business-to-Consumer (B2C)?<first> The B2C or Business-to-Consumer business model is the process of selling products and services by a business directly to the consumers or the end-users of the products or services offered. Thus all the companies that sell directly to the end consumers can be referred to as B2C companies. The B2C market is mainly driven by consumer behavior, where brands make efforts to identify and understand what customers want and how they can cater to those needs.
The term B2C gained popularity during the dot-com boom of the late 1990s when it was used to refer to online retailers selling products and services to consumers through the Internet.

<first>What is a B2C Company?<first> A company that sells its products or services directly to the end-consumer, either offline or online, can be referred to as a B2C company. For example, Nike manufactures shoes and other products and sells them directly to its consumers. A B2C company stands in contrast to the B2B company that sells its products or services to another business.

<first>The Five Types of Online B2C Business Models<first> There are mainly five types of online B2C business models in the industry.

1. <head-two>Direct sellers.<head-two> This is the most common model of B2C Business, where online retailers sell their goods and services to the customers from their websites. They may be manufacturers, small businesses, brands, online stores, etc. For example, Amazon, Walmart, Flipkart, etc.
2. <head-two>Online intermediaries.<head-two> These are liaisons who do not own the products or services but act as a bridge between buyers and sellers. Sites like GoIbibo, Book My Hotel, Oyo, etc. are some of the examples.
3. <head-two>Advertising-based B2C.<head-two> In the advertising-based business model, online websites leverage free content to attract visitors to the website and earn revenue by displaying ads. Companies that offer free quality content to their users, such as Huffington Post and TechCrunch are examples of this model.
4. <head-two>Community-based.<head-two> Under this model, sites like Facebook and Instagram, which are online communities built around shared interests, help marketers and advertisers promote their products and services directly to consumers. These websites target ads based on users’ demographics and interests. It could be an online group of designers, trekkers, musicians, etc.
5. <head-two>Fee-based.<head-two> This B2C business model includes direct-to-consumer sites that charge a subscription fee from consumers to allow them to access the content. They may also offer some limited content and charge for the rest of it. Entertainment services like Netflix, Amazon, Hotstar, etc., and Publications like The Hindu, The Business Standard, etc are some of the examples of this model.

<first>Latest Trends in B2C Ecommerce<first> The sales from B2C e-commerce around the world are expected to reach USD 7 trillion by 2024. This data is an alarm for all the B2C businesses to increase their focus towards rendering enhanced digital experiences to the customers. Due to the impact of the Covid-19 pandemic, 84% of consumers shopped online since its outbreak. Therefore, becoming an omnipresent entity in the consumers’ lives has become important for the business to stay in the competition. The pandemic has boldly underlined the concept of Omnichannel commerce, increasing the rate of omnichannel shopping by 50% post-2020. The pandemic has not only changed customers buying behavior but has also restricted companies from using traditional marketing approaches, making it necessary for them to embrace the omnichannel retail strategy to provide unified shopping experiences across all channels. Among the various rising Omnichannel retail solutions, Fynd Platform has emerged as one of the best omnichannel platforms. Fynd Platform being the ultimate solution for omnichannel retail business, provides a new way of retailing and offers inventory syncing from offline to online stores across channels, website development. Apart from this, you can also integrate delivery partners who will help deliver goods to your customers.

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