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Dongdaemun Fashion and Supply-side Management

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  We often discuss whether the source of any fashion product is a design lab and a sewing factory, or a market to meet consumers. The issue of debate is whether it is a push on the supply side or a pull on the demand side. In fact, accounts differ.   Of course, designers’ creative designs, production in sewing factories, and supply and shipment to the wholesale market are made according to the consumer needs or preferences, and their desires. Some of suppliers, however, act as a driving force to stimulate and induce fashion consumers’ preferences and willingness to buy.   In Dongdaemun market, many designers, entrepreneurial wholesalers, and many small and medium-sized sewing factories scattered in Gangbuk, Seoul, as well as shops of an innumerable number of textiles and various fashion parts, are focused mainly on supply- side management.   They make decisions together or separately. They are partners, but sometimes competitors. Business behavior between these partn...
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How to mine ‘Pearls in the Mud’

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How to mine ‘Pearls in the Mud’ “You know what. A lot of people are mining pearls in mud at the night market.” Perhaps everyone will say quite surprised, “Excuse me. What do you mean?” But that’s true. Many domestic fashion clothing retailers and foreign buyers often go to Dongdaemun market in Seoul. They go from place to place in Dongdaemun market to buy better fashion products made by designers at lower prices. In August 2018, a big data analysis on the image of foreign tourists summarized the responses to Seoul very effectively. “Seoul is a youthful city, enjoying an evening with people and it is quite energetic.” There are two notable landmarks in the Gangbuk area of Seoul. One is Dongdaemun(the East Gate), which was built in 1396 to the east of the old city of Seoul, and the other is Dongdaemun Design Plaza, which was designed and built in 2014 like a spaceship that landed some time ago Based on these two landmarks, Dongdaemun market is a world-class shopping dis...
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The Law of Scissors and Smart Management

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“Designer brands for less every day!”  It is a slogan of advertisement from the luxury discount store Ross (Dress for less). These discount stores are flourishing thanks to consumer preference for luxury fashion products. Similar to a retail business like this, designer products in Dongdaemun market are sold well at lower prices. We have described this shopping behavior as the performance of triangle management of Dongdaemun market merchants such as fast, good and cheap.  As well as, such marketing strategy of Dongdaemun market merchants can be explained by ‘the law of scissors.’ The bigger the scissors, the better it cuts. Likewise, the higher the quality of a designer product, the lower the price of the product, the more it sells. The larger the gap between the quality and the price of the product, the greater the sales volume.   As the rule of scissors, Dongdaemun market merchants have been seeking to increase sales while widening the gap betwe...
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