Shinchang Market Revival Strategy

Abstract

Shinchang market, one of the traditional markets in Seoul, has been going through hard times since the 2000s due to a sales decrease of 50% below normal, and the government’s support, which is mainly focused on cultural aspects of the traditional market in the local community, and lacks a solid basis and market understanding. This paper presents ideas for the fundamental improvement of the distribution structure in the main product categories such as meat and farm-products, based on trust and reciprocal cooperation of merchants and distributers, which would supplement the prevalent cultural approach with a more logical marketing strategy. We present the design and implementation of a group-purchasing distribution structure. This includes specifications for beef cattle meat and farm-products group purchase direct transactions. With these, the application of Kkalse and improvement of mat film screening will also be discussed. We report an analysis of the environment of the Shinchang market based on a multi-method approach; market research was carried out as a secondary research method and a consumer survey was conducted as primary research, where perceived quality and price levels of Shinchang market’s products were evaluated thoroughly with interview material. This paper stresses on the importance of a cooperative distribution system and solution implementation predicated on a deep understanding of the market.