[Report] Even MZ Generation Loves It Amid High Prices... 'Dongdaemun Sunday Market' Becomes a Sanctuary of Saving

Weekend Clothing and Accessories Market
Fill a Clothes Bag for 10,000 Won
Online 100,000 Won Padding
Snagged for 30,000 Won 'Treasure Hunt'
Merchants Also Get Inventory Clearance Opportunity
MZ Generation Prioritizing Value for Money Flocks

"2000 won for a single T-shirt? Is it really okay to be this cheap?"

On the afternoon of the 21st at around 3 PM, the Seoul Dongdaemun Sunday Market was bustling with crowds despite the sudden cold snap. On that day, near Pyeonghwa Market, about 40 street vendors were selling clothing and miscellaneous goods piled up like mountains on both sides of the main road.

On the 21st, customers are selecting items at a clothing stall in Dongdaemun Sunday Market.
[Photo by Lee Ji-eun]

A clothing stall with a sign reading "Absolutely 2000 won" in front of the display was packed with customers in their 20s. One customer repeatedly asked the vendor, "Is this price really correct?" before handing over a 10,000 won bill and grabbing a handful of clothes. After the customer, carrying thick bags in both hands, disappeared, another customer browsing the stall stepped forward and began rifling through the clothes.

Recently, as prices have soared, the Dongdaemun Sunday Market, where daily necessities and clothing can be purchased cheaply, has been attracting attention from the MZ generation (Millennials + Generation Z). The Dongdaemun Sunday Market is a weekend marketplace where merchants gather to sell stockpiled inventory and factory-dumped goods at low prices. The items are typically more than three times cheaper than retail prices.

Vendors met at the market that day also agreed that the number of young customers has increased significantly. Vendor A (38), who sells scarves at the Sunday Market, said, "About 50 to 100 customers in their 20s come daily. Because the prices are low, they buy four to six items at a time. Clothing and fashion items are very popular," he said with a smile.

On the 21st, Dongdaemun Sunday Market was bustling with crowds.
[Photo by Lee Ji-eun]

Not only clothing but also street vendors selling daily necessities have seen a steady flow of young customers. A miscellaneous goods stall had signs showing sanitary pads for 3,000 won and kitchen scissors for 1,500 won. Kim (25, female), whom we met in front of the miscellaneous goods stall, said, "I came because I heard clothes were cheap, but surprisingly, daily necessities are also inexpensive, so I feel like I stocked up for a whole household. Women's products and notebooks are so cheap that I started picking up one or two items and ended up with a full load."

For the MZ generation, the Sunday Market has emerged as a kind of sanctuary for saving living expenses. A YouTuber who focuses on saving money posted an introduction video about the Sunday Market, which garnered 940,000 views within five days of upload. On social media platforms, videos sharing tips on how to buy quality goods at the Sunday Market are also being shared.

The rise of the MZ generation visiting the Sunday Market in pursuit of so-called 'gashimbi'?psychological satisfaction relative to price?is largely attributed to the impact of high inflation. As of December last year, the consumer price inflation rate has continued to rise in the 3% range for five consecutive months. In particular, the living cost index rose 3.7% compared to the same month the previous year.

On the 21st, stationery items sold by merchants were lined up along the street at Dongdaemun Sunday Market.
[Photo by Lee Ji-eun]

Moreover, for the MZ generation, the Sunday Market has become a kind of content and a place to find enjoyment. Kang (27), who was trying on a padded jacket in front of a clothing stall, said, "A padded jacket that would cost 100,000 won on an online shopping mall can be bought here for 30,000 won. If you choose well, you can find good quality items, and it’s fun like a treasure hunt."

For vendors, the Sunday Market is also a good opportunity to dispose of inventory. Some vendors bring unsold items from their own stores to sell here.

Vendor B (67), who runs a clothing store in Geumcheon-gu, Seoul, said, "Every weekend, I bring items from my store to the Sunday Market to clear out inventory. When business was tough due to COVID-19, I started accumulating stock, and I sold a lot of it here," he said.