Explain 'consumer to consumer (C2C) e-commerce'. Describe its characteristics.

Consumer to Consumer i.e. C2C e-commerce refers to online dealing of goods and services between people. The parties are two consumers (individuals) and the transactions are fulfilled with the help of online market dealer like auction sites, for example eBay, Olx etc. Characteristics of C2C E-commerce It promotes opportunity for consumers to transact goods or services to other consumers present on Internet. The C2C in many a situation models the exchange systems with a modified form of deal making. For the deal making purposes large virtual consumer trading communities are developed. The customers operate by the rules of these communities to compete, check and decide their own basic transaction prices. It mimics the traditional economic activities corresponding to 'classified ads' and auctions of personal possessions. Much of the transactions in this category correspond to the small gift items, craft merchandise and similar items that are normally sold through the markets or Bazaars.