Business to Consumer (B2C)
Business to Consumer (B2C) refers to the transactions between a business and individual consumers. In this model, businesses sell products or services directly to consumers, who are the end users of the products or services. B2C transactions are typically conducted through online retail platforms, physical stores, or direct sales.
One example of a B2C transaction is when a customer purchases a pair of shoes from an online retailer such as Amazon. The customer browses the selection of shoes, selects a pair, and completes the purchase transaction on the website. The shoes are then shipped directly to the customer’s address.
Another example of B2C is when a consumer visits a local bakery to buy a loaf of bread. The consumer interacts directly with the bakery staff, selects the bread they want, and pays for it at the counter. The consumer then takes the bread home to enjoy.
Overall, B2C transactions play a crucial role in the economy by allowing businesses to reach individual consumers and meet their needs and preferences. This direct interaction between businesses and consumers helps build brand loyalty and drives sales.
For more information on Business to Consumer transactions, you can visit the Wikipedia page.