Having been to almost 40 countries, I always enjoy strolling through their local flea markets which are often teeming with local goods and flavors. One country that stands out against the rest when it comes to the flea market phenomenon is South Korea. It seems that their flea market operation differs tremendously in terms of operation, goods sold and more.

Korean Flea Markets Often Have No Fleas

If you search on Google, you'll discover that the term "flea market" has a French origin that literally translates to "marché aux puces". Now, the word "puces," meaning flea, comes from the cat fleas that got "sold" together with the old furniture at an open-air market. This essentially proves the point that a flea market is a marketplace of unused items. However, some Korean flea markets may be labeled with the word "flea" but there's an enormous chance that you will never find any fleas on any of the items on display. Because all of them are brand new. Flea market is not what Koreans think it is. It is something perceived as trendy or fancy and this reverberates to the items sold which often consist of stylish handicrafts, jewelry, and even attires - all in mint condition. A case in point would be the market called V Project Flea Market where it attempted to create an air traveling experience in a flea market arena. It uses props to mimic the shopping experience in airports and duty-free shops. Most of these flea markets such as V Project could not sustain themselves and soon disappeared from the marketplace radar. The probable reason is that they couldn't differentiate themselves from any other ordinary retailers or shopping malls. Vendors even had to compete with giant e-commerce sites like Coupang - the Amazon of Korea.

Not Selling At a Bargain

The one unbeatable feature that flea market has against other marketplaces is its ultra-low cheap prices. People globally always demand for bargains when they visit one. This is even more critical for Korean markets because haggling isn't embedded in Korean culture. Vendors should afford to sell at bargain prices when selling at flea markets and patrons expect this from them. No one is going to pay for a brand-new frying pan for $40 when they could get the same one for $30 in a hypermarket.

Focusing on Breadth Than Depth in Operation Hours

Although some popular flea markets have established themselves as permanent events, such as Dongmyo market, a lot of new flea markets that popped up operate almost on a daily basis. Most locals could understand the daily operation since it is a normal behavior amongst Koreans to be industrious. That is why this country is ranked as one of the most hard-working countries in the world. Even though there's nothing wrong with running your business daily, if you wish to attract a larger crowd, flea market operators should consider creating scarcity by operating less frequently. Rarity should be able to attract more attention from the local crowd, making them more eager to visit on those certain days only. So instead of spreading too thinly, flea market organizers should get focused and go for quality business hours instead of quantity. Operating on weekends seems to be the most ideal operation hours but do let the market dictate. Besides, it gives reason for families to go out of their houses on weekends by visiting a nearby market.