With the increasing need for eCommerce in our lives, this world has fragmented into various sub-parts, depending on the kind of target market that they serve. They include various types such as business-to-business commerce, business-to-consumer, direct-to-consumer, consumer-to-consumer, et cetera. Out of these, business to consumer is one of the most commonly found types of eCommerce. It practically encompasses a major chunk of the eCommerce transactions that are taking place today. If you wish to understand more about this type of eCommerce, then here is a more comprehensive example for you to work with.
An overview Of Business-To-Consumer E-Commerce
Before we dive into an example of such a type of market, it is important to understand exactly what this type of commerce entails. Business to consumer e-commerce basically refers to a transaction wherein there is a business firm at one end, and customers from the general public at the other end.
The types of business-to-consumer commerce can vary too, depending on how the seller chooses to ensure their products reach the masses. Some sellers make use of direct channels, whereas firms that cannot afford to make use of direct channels, employ the usage of intermediaries. So, if you have done your Thanksgiving shopping from a particular online platform this year, then such a transaction would be known as business-to-consumer e-commerce.
B2C Market Example
One of the best examples of the business-to-consumer market would be that of Walmart. While this eCommerce giant does offer business-to-business e-commerce in certain places, in most countries, its services are limited to business-to-business eCommerce. In fact, a major chunk of its transactions is also that of B2C. Walmart has some big competitors out there, however it swiftly retains a fair share of its loyal customer with the usage of content marketing. This content marketing aims to study the buying patterns of its customers so that it can make use of this information to create further content and attract more customers.
Walmart is an important figure in the lives of middle-class residents, especially since this e-commerce platform offers significantly low prices on fast-moving consumer goods. Its economies of scale model allow it to lower its prices to such an extent, and its collaboration with big brands ensures that its customers attach the name of Walmart to great value. Moreover, the supply chain followed by Walmart is said to be one of the most effective models of all time, which makes it such a successful contender in the world of business-to-consumer e-commerce.
Products In The B2C Market
While any product can hit the business to the consumer market, they follow a general prerogative of fulfilling the personal needs of their consumer. So, industrial-grade machinery would not be so characteristic of a B2C market, as a social media app, or perhaps a product that focuses on maintaining hygiene. FMCG products are most commonly found in this type of market as well, and they usually create massive price wars in the business-to-consumer market.
Conclusion
There are numerous business-to-consumer firms out there, and they are all growing a niche market of their own. The B2C model is something that most of us are familiar with, since a huge portion of the transactions we make work through the same channel. Numerous other contenders such as Amazon, Alibaba, Netflix, Instagram, et cetera, focus mostly on business-to-consumer e-commerce, and the presence of this type of market is rapidly increasing all across the globe. The B2C market offers shoppers an effortless experience and takes the concept of convenience to a whole new level.
