At a flea market that opened at Gwanghwamun Plaza on Sunday, March 17, a fiftyish seller was busy hawking assorted purses and clothes she brought from home.

- I brought some used clothes and purses. It’s fun. I can teach children about economy and people can buy things cheaply. There is lots of new stuff, too, something I got as gifts. I had no use for them and they were just gathering dust. Today I’m trying to make 50 thousand won. With that money I’m going to get something good to eat, give my children some allowance, save a little and even donate some.

Some of the things were as good as new, but the goods offered here at the flea market is usually 90% off the retail price. It’s win-win for both the sellers and the buyers.

- I love this stuff. There are so many things to buy, shoes, hats, and bags. I’m spending like crazy. It’s so much fun. I’m looking for some roller blades. Next time I’m going to be a seller.

Since the 2008 global financial meltdown the world economy has been muddled in recession and consumers worldwide have grown more wary of how they spend their hard-earned money. In this age of prolonged financial hardship used goods markets are in! A variety of used goods, such as shoes, skincare products, and clothing, appear on auction sites, tempting money-wise shoppers with their affordability and quality. One local used goods website reported a 30-plus-percent sales increase over the past month. There are many ways to get the most for your money, and used goods markets are one such way.

This is a used bookstore in Shinchon, in west central Seoul. It’s been in business for about a year now and is seeing a steady increase in its customers. Here’s the bookstore manager, Mr. Seo Ki-sang.

There is much price difference between new and used books. Consumers are on a tight budget these days so they want quality books at affordable prices. At this bookstore I can sell and buy books for fun. There are lots of repeat customers and the demands for used books are growing steadily.

Don’t mistake this used bookstore for an ancient and dusty shop filled with towering racks of old and yellowed books. Its interior is clean and airy, like any large national bookstore, and it even has a book search engine to look for a book you want.

Most used bookstores, both in Korea and abroad, don’t have a book search engine, but we do. That means our employees kept good track of our inventory and shelved the books exactly where they should be, so customers would not have to wander around to find the books they want. More than 90% of the books are where the search engine said they would be. Through this search engine customers can also find out whether the books they are looking for are sold out or out of print. Also, when people come to sell their books, the items are priced based on several resale pricing indicators and our inventory, not by some arbitrary standards of a salesperson. I think such features are what attract our customers.

The books may be used, but they are not old. In fact, their conditions are mostly very good, some as good as new. These days a book easily costs more than ten thousand won, or about nine U.S. dollars, and is most likely priced near twenty thousand won. But ten dollars go a long way in this used bookstore, enough to purchase several volumes. No wonder thrifty shoppers love this store!

- I come here three to four times a week, because the prices are really low. My parents used to buy me books, so I bought them without really worrying about how much they cost. But now I have to buy my own books, I need to get them as cheaply as possible.
- The books on my college reading list are so expensive. I’m majoring in economics and foreign books on macroeconomics, accounting, and other topics are too expensive to buy new ones. I come here often because I can get them 20 or 30 thousand won cheaper than anywhere else.
- The books are in great condition and some are not found even in large bookstore chains. I was really amazed when I first came here. The books cost only one or two thousand won.

The first things people cut down when the economy is bad are eating out at restaurants and buying clothes. People tend to eat at home and refrain from buying new clothes. For penny-pinching consumers used clothing store is a godsend.

This place called Beautiful Store, a used goods chain that sells donated goods and gives a large part of its profit to people in need. Since the store’s first branch opened in 2002, 129 others sprouted up all over the country so far. The stores are drawing more shoppers with their offer of reasonably priced goods and a chance to participate in a good cause. Here’s Ms. Kang Ju-yeon, a manager of a Beautiful Store branch.

Since the economy is in recession, many shoppers come here to save money. They also know about our mission of helping the needy, so they come to do some good deeds. Clothes sell the best, followed by household goods. Most of our customers are homemakers, so they tend to purchase kitchen goods, utensils and dishes, and small appliances. Also, children’s books are the favorite of mothers with young children. Our customers patronize the store because the items here are affordable, but also because they know that the money they spend here goes to support a good cause. I think they find it really rewarding to have their purchases go toward helping others.

Donations pour in at times like now, when seasons turn. So this is a season to go bargain hunting!

People call us to notify how much goods they have. We go out to collect them if the items are too big or too many, but if the things are small, they use the free package delivery system. Sometimes people just visit our stores to make donations. There is a logistics center, where all the donations are sorted, cleaned, priced, and sent out to individual branch stores. In March we see an increase in donated goods, because this is when people go through their closets and throw out old winter clothes. In fact, we got so many calls for donations, we couldn’t accommodate them all and had to make a waiting list of donors.



Roughly ten million items are donated to Beautiful Store in a year. Some corporations give their overstocked or out-of-season products, so if the timing is right, lucky customers can get brand new items at basement prices.

- I come here often. Today I came because I heard a shipment of new Ugg boots was coming in. These are unbelievable prices. I bought a pair for myself and another pair for my sister. I got a great deal.
- I came to buy some outdoor apparel. I heard an outdoor company donated some great stuff, so I came to get T-shirts and outerwear for my parents. The items are in better condition than I thought and the prices were really low.

Although the items were purchased in a used goods store, nobody can tell whether they are used or brand new. It’s not surprising that sometimes patrons of used goods stores become addicted to thrifty shopping.

- My office is nearby so I come here often during my lunch hour. I get cheap yet quality goods, and do something good for the community, so it’s my favorite store. I usually buy clothes for my children. A lot of the clothes are hardly worn and so cheap that I find them really helpful in keeping my household budget within limit. Unless I tell people how much I paid for them, they have no way of knowing how much these clothes cost.

Besides books and clothes, electronic goods, household appliances, furniture, and tableware are also hot items in used goods stores.

ReMarket is a marketplace for used and recycled household appliances and furniture. It’s a favorite haunt for penny-wise consumers.

- I’m looking for a sofa. I come here often, because although the items here are used, they don’t have any big defects and they are just as clean as new ones. The leather sofa I have picked out costs over one million won in retail, but here I can get it for 300 thousand won.
- I’m here to buy a bed. I shop here from time to time. I bought a bed and a couple of bookcases. There’s nothing wrong with them. They sell only the good stuff, so the items here are much sturdier and better-priced than at other prices. I pay only a third of the suggested retail prices, so I end up saving a lot of money.

The biggest merit of large used goods discount stores like ReMarket is that customers can buy reasonably priced goods and receive free delivery and free repair. With such extensive services, there is no reason to insist on purchasing new products. ReMarket is also seeing a surge in customers. Here’s ReMarket manager Kim Young-beom to tell us more.

We have assorted items here. When we get a product, we clean it first and then test it to see if it needs any repair. All the items here are fit for use. Household appliances like refrigerators, washers, and air conditioners are all repaired, if needed, to make them as good as new. I see so many more customers nowadays, demonstrating how bad the economy is.

Riding the popularity of used goods stores, a large-scale flea market is taking place at Gwanghwamun Plaza in downtown Seoul. Every Sunday, from mid-March through October, the city’s premier open space will host a flea market, which makes available not only used goods brought out from individual homes, but also local specialty items and cultural performances. On Sunday the plaza is bustling with bargain hunters and tourists.

There was even an elementary school student among the flea market merchants. She may only be in the fifth grade, but her marketing skills are equal to or surpass any adult sellers there. Here’s what Kim Chae-rin has to say about the flea market.

I brought some things we don’t use at home, like the books I used to read and school supplies I don’t need any more. I used to play with this one when I was in kindergarten. I feel kind of sad to sell it, but from the toy’s viewpoint it would be better than gathering dust at home.

The Gwanghwamun flea market is open to foreigners as well. In March people from thirteen nations, including the United States, China, Japan, and South Africa, sold their stuff. Here’s Alexandra from Russia.

We came from Russia. We are economics students and these are the books we used in our freshman year. I also sold a lot of accessories and one purse. They are all from Russia. It’s nice we can sell them cheaply and get friendly with the Koreans.

Parts of the proceeds from the Gwanghwamun flea market are donated to help the less privileged. Most of the merchants are glad to make contributions to the cause. These used goods markets not only help people save money, but also do something good for others. For these reasons, it is easy to predict that used goods markets are here to stay.