The growth of consumer to consumer business has been steady throughout the past few years. On average the growth of this marketplace is 5-7%.
The question is, can this business segment replace the "normal" business to consumer marketplace? Many researchers have found that this marketplace could be the "wave of the future." The most popular consumer to consumer site is EBay. Around the world consumers use EBay to sell not only their used goods but new goods as well. This allows them to reach a global marketplace of consumers that they may have never been able to reach before.
There are many benefits of Consumer to Consumer businesses for example, price savings, enhanced customer choice, reduced search and transaction costs, and cross border trade. With the world-wide economy in a downturn many of these characteristics could be quite favorable to the average consumer. Instead having to drive to the mall to shop, they can do so from sites like EBay and Amazon enjoying many of the benefits listed above. Either way they save time, and money, attributes that are quite valuable to many people.
Consumers can also have their own virtual "garage sale." In the past when you wanted to get rid of a few things you had to put them in front of your lawn and hope that someone would pass by and purchase it from you. Now with the online Consumer to Consumer marketplace you can sell your goods without the time & labor needed for a typical garage sale. In addition, you can have people bid on your goods and receive more than you would have if you tried to sell it the traditional way.
The C2C marketplace has revolutionized the way most consumers purchase goods. With the ever pressing need to save money, consumers around the globe are sure to turn to these sites to purchase items before visiting some typical business websites, and even before they visit a brick and mortar store.
Sources: ec.europa.eu/competition/sectors/media/ebay_frontier_report.pdf
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When I had my first garage sale I did not know it was my first garage sale.
ReplyDeleteeBay was/is just a place for me (like many others) to make a quick buck reselling items I purchase around town.
After a while of selling on eBay I noticed the possibilityes of selling those goods hidden all over the house. What may be rubbish for one may be treasure for another, and so I started selling my personal goods on eBay.
Does an eBayer know what C2C is? perhaps not but the dynamics on the site are amazing. And I agree that with a customers urge to save money he will turn to these C2C sites before looking elsewhere.
The C2C marketplace is a great resource for consumers. I also think that this type will be the "wave of the future". I believe that the most important benefit is cost. Having access to many different options, helps the consumers get the best price possible for a same product/service. Whenever you need a certain product but don't want to spend much money, you can turn to these C2C sites. A great example is Craigslist, which has grown a lot lately. This virtual marketplace allows people to get together and buy and sell just about everything. It is an excellent option when someone needs to get something (or get rid of something) and doesn't have much time. I have used it several times to buy and sell (concert tickets at the last minute). It has always saved me! Try it!
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