How will electronic commerce reshape traditional market dynamics? This thought-provoking paper presents a model for understanding the evolving landscape of trade, moving from marketplaces to marketspaces and customerspaces. Drawing on two years of research, the author considers the changing parameters introduced by electronic commerce and introduces the three worlds of commerce. It hypothesizes about future customer interrelationships based on these novel ways of trading. The study highlights the resulting unprecedented business roles and their impact on business strategies. These new roles are derived from the intersections of traditional markets, virtual markets, and customer-centric environments. Ultimately, this analysis identifies the major challenges businesses face in competing effectively in this emerging scenario, urging them to adapt to the evolving dynamics of customer relationships and emerging business roles. It prompts businesses to leverage the potential of the digital marketplace for sustainable growth.
Published in Information Management & Computer Security, this paper is relevant to the journal’s exploration of innovative strategies for secure and effective information management in business. It highlights the challenges and opportunities that electronic commerce presents, aligning with the journal’s commitment to understanding the intersection of IT, security, and business strategy.