Meaning of the word "B2C market" in English

What does "B2C market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

B2C market

US /biː.tuː.siː ˈmɑːr.kɪt/
UK /biː.tuː.siː ˈmɑː.kɪt/

Noun

a market where businesses sell products or services directly to individual consumers

Example:
The company primarily operates in the B2C market, selling electronics directly to customers.
Understanding consumer behavior is crucial for success in the competitive B2C market.