Lucky or Not

  LPGA Korean golfer, Lee Mi-rim became a winner, nailing a birdie on the first playoff hole at the 2020 ANA Inspiration to beat Canadian Brooke Henderson and the USA’s Nelly Korda, all tied at -15. Lee shot a final-round 67, sparked by birdie chip-ins at 6 and 16, and an eagle chip at the final hole to jump to the top of the leaderboard.

  “Lucky or not, she showed a lot of fortitude to stick with her game.” +

  Mr. Steve Eubanks, Managing Editor for the LPGA, saw her victory and commented above. 

  Similar to these sports competitions, it is a widely accepted general view that business success is 80% skill and 20% luck. In response, Chief problem solver at Tov Furniture, Bruce Krinsky, argued that business success is 10% skill and 90% luck, and said.

“You create your luck trough your work. If you do not do the work, you will miss opportunity.” ++

  CEO of Sugar Bowl Bakery, Andrew Ly, also said “The harder you work, the luckier you get. There is not any other way around it.” +++

  So, is luck also a factor of victory? However, there are surprising answers to these questions. Betsy Thagard, founder of B. toffee, said as follow,

  “I think business success is a little bit of both luck and skill. You certainly need to put forth the effort, but sometimes it is being in the right place at the right time.” ++++ 

  Taking it by and large, it is worth discussing in the fashion business and its marketing strategy.

   As in the First and Second World Wars, nowadays, the COVID-19 pandemic and the global economic crisis had much effect on fashion as clothes were in short supply. Of course, the supply shortage of fashion products is a consequence of the shortage of demand, but the supply-side mass unemployment is an even bigger problem. In addition, the shutdown of fashion wholesalers and retailers around the world is another big issue.

  In this crisis situation, it is always urgent for any fashion company to find a strategic solution for global marketing. By for the better strategic means is this.  


 


-Some of the popular Dongdaemun fashion items we exported last week, seoulclick.com- 


  Based on the classical economic theory that “Supply creates its own demand”, it is in rushing an aggressive online and un-tact marketing strategy.

  We are well aware of the already saying “All is still.” As it is said, the global fashion market is empty. On the other hand, there are many merchants in Dongdaemun market with hope that the situation will improve. Many wholesalers and retailers, as well as Dongdaemun designers, CEOs and employees of small and medium-sized sewing factories scattered in Gangbuk, Seoul, are waiting for trading partners there.

  In the crisis of sales decline, SeoulClick, a fashion trading company in the Dongdaemun market, systemizes an ICT-based platform and opens a global virtual fashion shop on the cyber marketplace. 

  Of course, many other wholesalers in the Dongdaemun market are also increasing the volume of online and un-tack commerce with domestic and foreign trading partners that no longer come. 

  Despite social distancing, many Dongdaemun merchants are trying to stimulate consumption and induce demand by promoting stylish new products to domestic and foreign fashion retailers and buyers.

  We know the meaning of “Give and take”. The significance of sustainable marketing is also giving first and then taking. That’s right. Koreans always say this.

  “Sincerity move heaven.” 

  It is also true that faith will move a mountain. Even though things are not mending. they are doing their best. As Mr. Steve Eubanks said, lucky or not, they are showing a lot of fortitude to stick with their business.

+ September 14, 2020, www.google.com

++ growwire.com/luck-in-business

+++ Ibid.

++++ Ibid.

<32>

Bong Sul (Advisor, SeoulClick)

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


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