How to make money? #1

Bong Sul (Ph D., Advisor)


How to make money? <1>

Fashion retailing, where and how to purchase? 


“Happiness is not in money, but in shopping.”

An actress Marine Monroe said. 

Consumers are generally satisfied with purchasing fashion products of designer brands at low prices. Yes. Happiness is in such a smart shopping. 

In this situation, many fashion retailers are making a lot of money thanks to supply-side partnerships in Dongdaemun market.

Let us go on a tour to the marketplace there.





Comments

Post a Comment

Popular posts from this blog

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

Image
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 com...
Read more

Dongdaemun Fashion and Supply-side Management

Image
  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...
Read more

Dongdaemun Fashion and Innovation of Logistics System

Image
As is widely known, Dongdaemun market is a global shopping district that sells designers’ fashion products at low prices. In Dongdaemun market, however, its market competitiveness based on low price has been weakening gradually due to rising wages and other costs. In the late stages of development, it is true that Dongdaemun market is difficult to avoid the trend of wage increase., Furthermore, it is a big problem of the market that the cost is not reduced due to the inefficiency of physical distribution. We know about the Amazon effects, which have recently come up with an amazing business wave. As CEO Jeff Bezos said, Amazon’s mission is simple. They are trying to discover what products the global consumers want to buy and deliver the products to everyone on the planet. T o improve its performance and cost factors, Amazon is investing heavily in the mechanization of its warehouses. We should know that the key to Amazon’s success is, more than anything else, driven by l...
Read more