“Speculatively exploring” – a relational approach to study liquid modern markets

Purpose The purpose of this paper is to address the challenge marketing scholars face in making sense of the volatility and uncertainty characterizing contemporary markets. This study introduces speculative exploring as a relational methodological approach for studying how markets are formed and transformed under such “liquid” conditions. The notion of liquid modern markets points to a tension in which markets are temporarily stabilized through standards, infrastructures and institutional arrangements, while at the same time remaining open to change as these arrangements are continually negotiated and reworked in practice. By engaging directly with uncertainty and complexity, the proposed approach enables a more dynamic and context-sensitive analysis of the evolving and interconnected processes shaping consumer markets. Design/methodology/approach The literature on relationality in marketing and Science and Technology Studies is reviewed and analyzed, with insights also drawn from the author’s in-depth fieldwork on the sharing economy. Findings This study identifies four key methodological principles and research strategies for speculatively exploring contemporary markets: following epistemic work, thinking like a practitioner, tracking relationality in motion and uncovering absent presences. These principles offer a dynamic approach for engaging with the complexity and fluidity of today’s rapidly evolving market landscapes. Practical implications Practitioners can apply these principles to effectively navigate liquid markets, such as sharing economy markets, influencer markets and other emerging phenomena, where market boundaries are fluid, roles ambiguous and legal categories require constant redefinition. Originality/value This study responds to recent calls by the journal to address the limitations of traditional qualitative methodologies during times of market transition, particularly in the context of environmental, political and organizational disruption.