B2C ecommerce, often known as business-to-consumer ecommerce or retail ecommerce, is a business model involving sales between online businesses and consumers. Unlike B2C, a B2B ecommerce portal is between manufacturers and retailers.
B2C was established in the late 1990s, and companies that sell their products directly to end-users are referred to as B2C companies. Other than that, B2C ecommerce is divided into five categories, namely: direct sellers, advertising-based B2C, fee-based, online intermediaries, and community-based. A good example of a B2C company is Spotify. It provides an opportunity for small retailers (musicians) to sell their products (songs) to a larger online audience. This article provides an insight into everything you need to know about B2C ecommerce. Some common features of a B2C ecommerce include the following.
B2C portals have personalized features depending on individual consumers. Hence, businesses should ensure that their B2C portals provide actual product recommendations by analyzing customers’ buying history.
Account management and analytics
Retailer ecommerce allows end-consumers to see order histories, which displays important details about customer behavior. This helps businesses to comprehend the reason why customers are leaving their websites.
Social and mobile
Most B2C portals are user-friendly, which enables customers to easily view products and place orders from the convenience of their phones. Social connections assist businesses to follow up on consumers and suggest products to purchase depending on their search history. Based on research, below are the major benefits of having a B2C ecommerce platform such as Virto Commerce for your business.
According to experts, the B2C portal can help businesses minimize the cost of infrastructure, staffing, and electricity. By cutting such costs, it lowers the cost of production (operational costs), enabling the business to generate more profit. Lowering operational costs also helps businesses to sell their products at an affordable price, hence attracting several consumers.
Direct contact with consumers
Retail e-commerce lets businesses communicate directly with end consumers in a very personalized manner. It may include keeping in contact through emails, SMS, or simple push notifications. Frequent communication with consumers helps the business meet the needs of the consumers and converts several first-time visitors into buyers.
Improved access means that several buyers can purchase products anywhere and anytime. Henceforth, your business can sell its products or services 24/7, which improves sales and increase total revenue.
Most traditional marketing strategies are hard to track performance and effectiveness. However, with B2C ecommerce, businesses can easily track conversions and improve their marketing strategies. With the help of Google Analytics, you can also see how a client first came to your website, the number of visits it took for them to convert, and the page the client converted on. With such crucial information, your business can develop a stronger site that converts better than your competitors.
As opposed to B2B ecommerce, B2C eCommerce portals experience higher demands from customers. A common challenge faced by most B2C ecommerce portals is payment processing difficulties. Most consumers are hesitant to share their data on these sites due to security reasons. Nonetheless, the implementation of SSL encryptions and PCI compliance has increased customers’ confidence.