International online retail stores are increasingly challenging Finnish retailers. In order to strengthen the Finnish e‐retailing competence and to educate the retailers of tomorrow an e‐Commerce Lab was created. The Lab is the first of its kind in Finland and it is built around a concept that we call “reality‐based simulation before a live audience”. This paper describes the e‐Commerce Lab, shows the simulated business processes and provides lessons learned on what is gained by setting up an e‐ Commerce Lab together with different stakeholders of e‐Commerce in Finland. We also propose some initial thoughts on how to further develop the Lab.