Alibaba’s Jack Ma said B2C (Business to Consumer) is becoming C2B (Consumer to Business).
What customers value is changing. Customers have more access to products/services, more insight into companies, and more options on who to buy from. This results in requesting “free” goods and services, personalization, and a variety of options.
Gillette, a long time leader in razors, saw their market share fall from 70% in 2010 to 54% in 2016. Dollar Shave Club and Harry’s, two examples of C2B companies, have changed the marketplace. Gillette recently cut prices 20% on razors to compete – the next few years will show us how these companies continue to adapt and compete (Source: WSJ).
Is your company adapting to C2B?
