[Jihye Choi's Trend 2023] The Allure Discovered by the MZ Generation... Traditional Markets Become Hot Places

Jeju Beer Opens Pop-Up at Gwangjang Market
Starbucks and LG Electronics Head to Gyeongdong Market
Neighborhood Markets Transform into Playgrounds for the MZ Generation

In May 2023, Jeju Beer opened a pop-up store at Gwangjang Market. Unlike previous pop-up stores that Jeju Beer showcased at trendy spots, this time they chose Gwangjang Market, long famous as the mecca of hanbok, instead of department stores or the so-called hot place ‘Seongsu-dong.’ Jeju Beer is not alone. Brands like Starbucks and LG Electronics are also visiting traditional markets. Why are brands choosing markets? Because markets, once neighborhood facilities mainly for middle-aged and older generations, are emerging as playgrounds for the MZ generation (Millennials + Generation Z). What is the charm of markets discovered by the MZ generation?

First, markets are a sanctuary for the palate. Recently, among the MZ generation, it has become trendy to try Japanese-style omakase course meals where the chef serves dishes without a menu. Going further, a new term “sijang-kase” (market + omakase) has even emerged. It refers to the idea of sampling a variety of foods, likened to a course meal. Among many traditional markets, Gwangjang Market is known as a haven for daytime drinking. Ordinary menus like mung bean pancakes, “mayak” gimbap, glutinous rice twisted doughnuts, and sundae (Korean blood sausage) are common in many markets, but at long-established stores, they become excellent drinking snacks. Also, Gwangjang Market has a separate alley famous for yukhoe (Korean-style raw beef), making it a must-visit course for foreign tourists.

Located around Poeun-ro in Mapo-gu, Mangwon Market, along with nearby popular food alleys, is called Mangridan-gil. While traditional market staples like tteokbokki, dumplings, and gimbap are available, its proximity to the trendy Hongdae and Hapjeong subway stations in Seoul means it offers many trendy foods. Recently, fried chili peppers have become popular. Although fried chili peppers can be found anywhere in markets, those at Mangwon Market are impressively large. Unique foods catering to young tastes, such as “Ppuring Hotteok” (hotteok sprinkled with chicken seasoning) and marshmallow ice cream (marshmallow grilled with a torch filled with chocolate ice cream), attract attention.

Second, markets offer a total hip experience. Cafe Onion, located at the entrance of Gwangjang Market, operates as a street cafe with a menu made from torn cardboard boxes and plastic chairs wrapped in box tape. The space, renovated from a 60-year-old gold and silver shop, features exposed concrete and vintage props, blending seamlessly with the overall atmosphere of Gwangjang Market. It allows customers to enjoy coffee with the market’s street food vibe, as if sitting by the roadside eating tteokbokki.

Starbucks Gyeongdong 1960 in Gyeongdong Market, Dongdaemun-gu, is another representative hot place where you can feel a hip retro vibe. The space housing Starbucks was originally a closed theater built in the 1960s and used as a warehouse by merchants for a long time. The unique atmosphere of Gyeongdong Market, lined with herbal medicine shops and ginseng stores, combined with the retro feel of the space, attracts a steady stream of visitors. According to Starbucks officials, more than 1,000 customers visit daily, and over 2,000 on weekends.

Finally, as the MZ generation continues to visit markets for diverse foods and unique vibes, markets are gaining attention as fierce battlegrounds for business. With brand concept stores and hip shops lining up, the number of young visitors to markets is increasing. LG Electronics’ “Geumseong Jeonpasa Refresh Center” is a prime example. To get to the aforementioned Starbucks Gyeongdong 1960, visitors must pass through Geumseong Jeonpasa on the first and second floors, which is designed as a retro-themed unique experience space. It exhibits LG’s first black-and-white TVs, refrigerators, washing machines, and features an LG LED signage wall projecting old images of Gyeongdong Market and seasonal themed videos. It offers nostalgia to middle-aged consumers and a unique experience to the MZ generation.

Another example is the grocery store “365 Iljang” by 321 Platform, opened in October 2021. 365 Iljang is a space planned to provide new experiences within Gwangjang Market targeting MZ generation consumers. The first floor houses a local grocery store based on traditional liquors, the second floor contains a central kitchen overseeing 365 Iljang’s food, and the fourth floor features a wine bar selling not only wine but also various traditional liquors.

These changes in markets suggest the future direction of offline business. During the COVID-19 pandemic, many experienced an era where anything could be purchased online, and some predicted the end of offline business. However, people are flocking back to offline spaces. As we enter the endemic phase, offline spaces are becoming livelier. Why are young people gathering in markets in particular?

The answer is “experience.” For the younger generation, markets are no longer just places to buy goods. They function as playgrounds combining tourism, culture, and entertainment. Coffee enjoyed on plastic chairs, Starbucks only accessible by passing through an herbal medicine market, makgeolli and mung bean pancakes enjoyed at long-established stores in broad daylight?markets offer the MZ generation a space full of enjoyable experiences. In other words, if there is “content” that can be experienced offline, people will gather. The only way for offline to survive in the online era is through “experience.”

Jacques Lacan described “daily life as a boring passage toward death,” emphasizing that overcoming boredom requires providing a sense of fantasy that cannot be found in everyday life. If markets, which have been overshadowed by large supermarkets and online distribution, continue to offer consumers extraordinary fun, more possibilities will open for traditional markets in the future. To turn these possibilities into results, efforts to develop unique charms and content for each traditional market are necessary. Traditional markets have now encountered an opportunity. We cheer for the new golden age of bustling traditional markets.

Choi Ji-hye, Research Fellow, Consumer Trend Analysis Center, Seoul National University