In the eCommerce industry, various business models are available to start your online business. You can select them as per your business field, work, and customers you want to engage with. eCommerce business models such as B2B, B2C, and D2C are pretty famous, and among such, the brand new business model C2C (Customer to Customer) is becoming quite famous these days. Customer to Customer is such a business model that allows customers to do business with each other on a frequent basis and in an online environment.
This particular business majorly worked through auctions and assessed advertisements. With the emerging eCommerce industry in India, many startups are pursuing a C2C business model. The C2C businesses incorporate eCommerce technology and assemble their potential customers. Several C2C platforms, such as Amazon and eBay, sell their products through a well-classified auction system.
The customers mostly purchase products from other customers through a third party, where the payments occur. If we talk about the Indian market, numerous companies follow the C2C business model and have adopted it lately. Here in this blog, we have mentioned India’s top most renowned C2C eCommerce platforms.
Best C2C eCommerce Platform in India
eBay is one of India’s leading online platforms, it provides the facility of auctions, convenient shopping, and negotiated models of trading from one Customer to another. This Customer to customer platform was established in 2006, and its headquarter is in Goregaon, Mumbai. It offers a broad range of product marketing, categorized into several listings, including apparel, beauty, personal care, computers, cars and bikes, jewelry, mobile phones, etc. eBay holds 25th rank in India’s top websites list.
Quicker is another prominent online customer-to-customer marketplace; it was established in 2008. It offers customers to post and gives their reaction to free and local ads related to furniture, events, cars, jobs, housing, and others. In the current scenario, WQuicker has expanded its services to more than 930 cities in India. The headquarters of Quicker is located in Mumbai, Maharashtra, India. According to the survey Alexa, Quicker is listed in the 16th position in India’s top C2C platform.
Coutloot is basically a social commerce platform founded in 2015. It is widely known as India’s largest offline and online social marketing platform that offers customers the ability to sell anything to online buyers with reasonable bargaining across India. Coutloot also offers documentation, logistic services, and cash on delivery to its customers. The headquarter of this C2C company is located in Mumbai, Maharashtra.
This eCommerce venture is quite old and famous in India. Olx has made a quite strong presence in the eCommerce industry. This company was established in 2006. It is one of the renowned and popular customer-to-customer eCommerce platforms in India. One can buy, sell and rent various products such as furniture, cars, bikes, and electronics from this astonishing C2C venture. You can also buy and sell properties and apartments from this eCommerce platform.
It is one of the most popular and giant eCommerce channels across the world. The most amusing thing about this venture is that it operates in a business-to-customer and customer-to-customer business model. Almost every product category is available on this platform, such as apparel, furniture, beauty products, personal care products, shoes, electronics, home decor, baby food, etc. The headquarter of this eCommerce giant is situated in Seattle, Washington, United States, and in India the headquarter is based in Hyderabad.
How Does Customer to Customer Business Model Works
Customer-to-customer eCommerce business model works basically for customers who buy products from other customers. In this regard, they can use any third-party eCommerce platform to expedite the transaction. C2C online business platforms arrive with eCommerce machinery. In this model, customers gain benefits from such products that are difficult to locate by others. The conversions are pretty high in C2C in comparison to the traditional B2C method.
Customer-to-customer eCommerce business model is much more convenient because you need not visit any physical store. Sellers generally list their products, and customers purchase them if they find their products in the search list.
Revenue and Growth of the Customer-to-Customer Business Model
Customer-to-customer eCommerce platforms are almost similar to the B2C model, the only difference is that they make a profit from fees that are charged to sellers for listing their products for sale on C2C platforms. These C2C transactions generally involve used products sold through a classified or auction system. This significant market is predicted to grow in the future because of its cost-effectiveness. In the C2C marketplaces, the cost of using third parties is decreasing and the number of products for sale by customers is slowly rising. Sellers consider it to be a vital business model because of the popularity of social media and other eComm channels.
These channels showcase significant products already owned by customers, increasing demands and ultimately driving an upsurge in online traffic to C2C platforms. However, the Customer-to-customer business model has obstacles such as lack of product quality and payment issues. In some cases, there is less support for credit card transactions. However, the emergence of Paypal and other payment options has helped simplify payments on C2C eCommerce platforms.
There are numerous C2C companies in the market that are shifting their business to a Customer-to-customer business model and attaining significant revenue. This business model helps in enhancing customer relationships and attracting new customers. Significantly, the eCommerce businesses prefer to get along with this business model only.
With the help of brand analytical tools such as etraKY BS, you can capitalize on this business model. It can help you list your products accurately and provide you with the appropriate information regarding your stocks. It can become easier for you to run your C2C business with the help of such software. Believe it or not but Customer-to-customer business models are generating enormous revenue. You can establish your eCommerce business based on this peculiar model and earn decent revenue.