Businesses have probably been selling to consumers for as long as business itself has existed. The dynamics and laws that govern such interactions are so well documented that all consumer-centric businesses appear to run in a similar way. Products are conceived and designed in a similar way, they are promoted and sold in a similar way, and even customer service is well understood and fairly standardised.
Logically, consumer-to-consumer interactions would have preceded business-to-consumer interactions. Yet, the dynamics of consumer-to-consumer interactions are probably less understood. This is probably because it has been very hard for consumer-to-consumer interactions to achieve scale. Imagine the situation of Rakesh who is trying to sell his car; in a world without the Internet, Rakesh’s potential buyers would probably be limited to those in close proximity. Fortunately, with the advent of the Internet, Rakesh probably can have a much wider audience to reach out to in order to sell the car. Of course, he might also encounter Suresh and Ravi, who are also selling similar cars, and therefore he might have limited wiggle room in terms of how he prices his car.