Purpose Contemporary scholars contend that the buyer–seller relationship is dynamic in nature, so it grows, matures and declines over time. However, most studies that adopt the dynamic perspective debates its conceptualization and how dynamic effects are captured. This scholarly discourse has led to multiple dynamic perspectives and resulted in fragmented and scattered literature on the subject. This study aims to synthesize the large body of research on dynamic perspectives in a systematic way. Design/methodology/approach This paper follows a systematic review approach to extract and review 192 research articles from four electronic databases: Web of Science, EBSCOhost Business, ScienceDirect and Emerald. Based on the inclusion criteria that the articles examine time-dependent relationship development in light of a generalizable dynamic perspective, 61 articles were selected for the final examination and reporting. Findings This review reveals that most research on the buyer–seller dynamic relationship follows at least one of four perspectives: the relationship lifecycle, relationship age, relationship velocity and the asymmetric–dynamic perspective. Each perspective offers a distinct conceptualization of relationship development and has certain advantages that enable researchers to capture information about relationships’ growth trajectory in a unique manner. Practical implications Firms need a set of diverse strategies for their customers, depending on the state of the relationships’ development, as strategies that pay off at initial levels may fail at later stages. This study helps managers select an appropriate dynamic perspective that best aligns with their customers’ stage of relationship development so they can devise customized relationship-management strategies. Originality/value To the best of the authors’ knowledge, this article is the first attempt to organize the discourse of a large body of research on dynamic perspectives, and therefore it helps academicians and practitioners to choose the dynamic perspective that best suits their objectives and research settings. This review documents key research areas that have been overlooked and highlights opportunities for future research.