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Technology has transformed organisations, industries and ways of doing business.
Explain the reasons for the growth of business-to-consumer (B2C) trading through online trading.
Platform availability
The cost of personal and domestic computing has fallen dramatically since first being introduced and this has led to widespread ownership and a consequent ability to buy directly from businesses.
Payment security
The development of secure transaction and payments systems has given customers confidence to trade online.
Expanded marketplace
The development and popularity of search engines have offered new markets to businesses. Conversely a wider choice of suppliers has opened up to buyers beyond the regular high street retail outlets.
Reduced value chains and make cost savings
Sophisticated system developments have enabled streamlined value chains that have reduced the number of intermediaries and their associated costs. Savings can be passed on to customers reducing costs and so encouraging B2C trading.
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