This study investigates contemporary developments and changes in the use of the internet with regard to the characteristics of Virtual Communities and its value for general merchandise e-commerce companies. The literature discusses this topic extensively and describes value on different levels that can be captured. Basing on this theoretical value, research was conducted in form of a case study, comprising observation and content analysis methods as well as a small number of qualitative interviews with community members. It is shown how the American broadline retailer Sears uses its customer community as a CRM tool which provides useful information for customers and helps to resolve problems. The value as well as the key problems of this community will be shown and evaluated critically. These findings were discussed with OTTO as one of the biggest Internet Retailers and assessed in terms of its business model.