Accelerated by the big success of leading social web services like Facebook, Flickr, Twitter or YouTube and the request of exciting features through the web community, a new genre of innovative online marketplaces has evolved over the last years. Smart Shopping Spaces provide a unique shopping experience characterized by strong collaboration and social interaction between merchants and consumers. Conventional online shops are gradually updated with innovative shopping features or become fully substituted by new e-shopping concepts, like Fruugo, MyDeco, Threadless or Vente Privée. This paper presents a trendsetting model for Smart Shopping Spaces based on analyzed best practice elements, functionalities and interactions. The designed model combines components of social networking, online shopping and social commerce services. An extended research on 300 individual services out of these three categories was performed to achieve a broad overview. Relevant research results, significant showcases as well as the creation process and an explanation of the model are presented. The framework illustrated in the final part serves as basis for both researchers and developers of future Smart Shopping Spaces.