Fashion retailing, where and how to purchase

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...

“We don’t want our clothes to exploit people or destroy our planet. Buying less, choose well.”   In the midst of the side effects of the fast fashion business of firms like Zara, H&M, UNIQLO, Forever21, and so., which mass-produces low quality fashion products and supplies them at low prices, the fashion revolution and its movement has been under this declaration. “Wow, this kind of wholesale market like a department store is in the Dongdaemun Fashion Cluster!” If anyone goes to apM Place, they will feel like watching fashion shows at another premium shopping mall giving an inspiration of going in and out of ultra-modern DDP. Foreign tourists, perhaps many retailers or buyers will not only be very excited, but also be able to meet their biz wants and needs.   “I love the interior layout as well as the collections. It’s definitely a boutique with really good designer items.” + Even though the Dong...

  One day, two fashion designers had a conversation at a coffee shop in Dongdaemun market.   “I finally decided to open up my own fashion wholesale shop in this market.” “Well. I respect the decision you’ve made. But there are lots of clothe shops. It seems risky.” One of the designers who decided to start-up said so firmly. “I know well. But I’ve been dying to start my own business. I’ll take my chances.” As such, many unknown Dongdaemun designers said tha t we want to do something very much as if one little boy is dying to meet his mother away. People also are saying that we are dying for a glass of water. Nowadays, people are very worried about the excessive competition in Dongdaemun market. The difficulties of many people who work hard every night in Dongdaemun market will still exist. Merchants in the market finished their work and closed the shops and took a long sigh. Then they would say Shakespeare’s monologue. “We did a good job last ...

Surprisingly, many fast fashion companies are now in crisis. Of course, there are many causes of the crisis. And in the many causes there are solutions. It is also true that there is opportunity in the midst chaos like the war of losing a lot of life and property. Although it is forgotten, Aesop’s stories in the 6th century BC about ‘Four Oxen and One Lion’ exists . One lion saw four oxen in a field. The lion then attacked the bulls several times. Oxen defended against the lion ’s attack, with the tails touching each other and drawing a round circle. They resisted the lion’s attack with their horns. At last, they had a quarrel among themselves, and each went off to pasture alone in a separate corner of the field. Then the lion attacked them one by one and soon made an end to all four oxen.   “We repair the stall after losing oxen.” It is late. The lesson of the story is that, the fence was not a protective wall. As Simon Sinek claims, oxen were able to avoid ...

Nowadays, many consumers tend to buy famous fashion products simply by looking at the logo or brand. Most of them often do not get consumption satisfaction in the personalized trend for consumer preference. On the other hand, consumers who have purchased Dongdaemun fashion products will find the beauty in places they did not expect. Unlike global luxury brands, Dongdaemun fashion products are made by a number of unnamed designers and are more diverse than anything else. Many Dongdaemun fashion brands with 30,000 or more are different or diverse. Even though there are so many designer brands, every store’s fashion product is never uniform, same, or monotone. In this regard, Dongdaemun fashion products have strong market competitiveness thanks to the creativity of ‘many designers’ working together in each store. We are sure that designers working in Dongdaemun market tend to create demand for their customers by tr...

DONGDAEMUN STYLE Title: DONGDAEMUN STYLE Price: KRW 18,000 Author: Bong (Bong Sik) Sul Publishing Date: Nov / 18 / 2019 Product Dimensions: 140*210 Pages: 323P Category: Business/ Marketing ISBN: 978-89-268-9707-2 13320 Keyword: Dongdaemun Market, Korea, Shopping, DDP, K-fashion   Copyright ⓒ 2019 by Bong(Bong Siik) Sul all rights reserved This book was published by Korean Studies Information Co. Ltd. in 2019 tel: 031)940-1111 / fax 031)908-3189  Book Review 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.” Dongdaemun market is a global shopping district that sells designers’ fashion products at low prices. Wholesalers who operate at night time are making great business performance through triple management which focuses on superiority of products(good...

Let’s Go Together’ Management   “The damaged leaves of the tree are pretty because they were eaten by insects. The trace of living by feeding others is as beautiful as a star.” Recently, it is a large advertisement copy on the wall of Kyobo Education Life Building. This is a content that praises the beauty of life of altruism. Dongdaemun market is a global shopping district that sells designers’ fashion products at low prices. Wholesalers who operate at night time are making great business performance through triple management which focuses on superiority of products(good), speed(fast) and price(cheap). Local retailers and foreign buyers try to increase the margin of retail transactions with fashion products purchased from Dongdaemun wholesale market. Therefore, they would like to buy Dongdaemun designer products at a lower price as much as possible. Under these circumstances, SeoulClick has continued its sustainable management with Stakeholders with low price,...

Speaks in Quality of Fashion Products “Even the best clothes can have minor scratches.” The Dongdaemun myth is a beautiful story about the management performance obtained by selling designer brand products at low prices.  Unfortunately, Dongdaemun market is sometimes deteriorating its market image due to poor quality control. We know well what’s the keyword QM (Quality massage). If any company is always producing quality products, those companies will be able to sell their products without advertising or PRs. For example, some of products from a good company like Samsung or LG, sell easily because consumers rely on products’ quality. The quality of the product is advertising and PRs itself. As chairman Suh Kyung Bae of Amore Pacific said, he seems to be setting up a quality-oriented global management strategy. “It is because of the Korean wave that Chinese people like Made in Korea products! Yes, but the repurchase is strictly based on quality control, and what ...

There is a Tokkebi(Goblin) Market in Korea Do you know what a Tokkebi market is? In Seoul, anyone can easily go to the Tokkebi(goblin) market. But those who first hear it may be wondering. The legendary Tokkebi is one of the most interesting folk stories. The Tokkebi lights that appeared during the dark night is just fantastic. However, in the morning when the sun rises, the Tokkebi and its lights disappear. Before modern society, many Koreans believed on folktales. “Tokkebi is a god for abundance that brings money, goods, and food to the needy people.” There is also a word ‘Tokkebi bat’ like Genie. The old tale said that Tokkebi carried a bat as a tool to produce anything. We are sure that anyone can possibly have such legendary Tokkebi bats in Dongdaemun market. Everyone can expect it. In any case, we have thought that it is better to call Dongdaemun market as one phantom market because most of the wholesale stores in Dongdaemun market open around 8:30 pm and close ne...