The 2nd Dongdaemun Myth, which the Curtain has already risen (Spread of Online Commerce)

As we often discussed, wholesalers in Dongdaemun market have continued to grow and develop their business size and performance with a peculiar marketing strategy of ‘selling good fashion products at lower prices’. Recently, however, the number of local retailers and foreign buyers visiting Dongdaemun wholesale market has declined significantly.

Many people have been greatly worried about the difficult situation of Dongdaemun market. Is Dongdaemun market a chronic management crisis? Or is the market's future situation really dark? Instead of answering this question, we need to think about the causes of today's management crisis in Dongdaemun market.


Depending on the idea, the phenomenon is due to the concentration of population in Seoul and the metropolitan area, and the recession of the local economy caused by the aftermath. As well as, there is a big reason for the rapid increase in the size of online commerce.

On the other hand, such an increase in online commerce in the Dongdaemun market has paradoxically provided new opportunity to overcome management crisis of the market.

Today, many fashion retailers and global buyers do not come anymore to Dongdaemun market to buy fashion products. But they still buy Dongdaemun fashion products. Rather, the purchase volume of them is increasing. They have developed a strong preference for globally-minded ecosystems and platforms, such as Amazon, Alibaba, Facebook and Google, and so on.

Likewise, merchants in Dongdaemun market are dramatically increasing the size of online commerce according to their demands and trading patterns, such as retailers, buyers, and even consumers.

“Best place to find your style! Meet on mobile, check various and luxury fashion items right now! New arrival every week.” +

Dongdaemun wholesalers, who have strong market competitiveness, are doing innovative marketing to increase the scale of online commerce. In addition, in Dongdaemun market, many wholesalers are using ‘online commerce’ as their top priority marketing strategy.

As well as, while the global spread of the coronavirus that originated in Wuhan, central China, is expected to continue, so call, ‘Untact marketing & shopping’ that avoid face-to-face contact between the seller and buyer is increasing more rapidly in Dongdaemun market.

In this growing trend of online commerce, we can argue that Dongdaemun market is rewriting the 1st Dongdaemun myth that happened over 20 years ago. Rather, it is true that the curtain of the 2nd Dongdaemun myth has already risen.

Not widely known, SeoulClick has not only purchased by proxy, but also inspects purchased products, improves product value by repairing defective products, and provides services like packaging and delivery.

The company has increased the number of employees responsible for ‘online trading’ and to expand work of inspecting & improving facilities, and so on.
+ apM Place's management strategy

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Bong Sul (Advisor, SeoulClick)
 Read more: Bong (Bong Sik) Sul, Dongdaemun Style, ebook.kstudy.com, Seoul, 2019.

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