What benefits do consumers receive as a result of competition in private sector markets?

What benefits do consumers receive as a result of competition in private sector markets?
Suppliers compete for consumer's business and has to outperform each other with respect to:
quality of product and/or service,product price,ease of obtaining the service or product,utility of the product or service,after sales service, etc.
All these aspects ensures a better consumer experience.

In the absence of competition, the consumer is alone in negotiating with the supplier, who then has a monopoly.