(14)Home Shopping that Closed and the Success of ‘Dukki’

This article highlights the importance of market analysis when entering the Vietnamese market, showcasing both successful and failed Korean business ventures in Vietnam. It contrasts the success of Douqi Tteokbokki with the withdrawal of Korean home shopping companies, emphasizing the need for a thorough understanding of the local market.

2023-07-17
(14)Home Shopping that Closed and the Success of ‘Dukki’

Contrary to expectations, several large Korean home shopping companies have faced significant losses and withdrawal from the Vietnamese market. In contrast, Douqi Tteokbokki, a smaller company, has achieved success. This article analyzes the reasons behind the failure of Korean companies in Vietnam and highlights the factors contributing to Douqi's success. The key lies in accurately understanding Vietnamese consumer preferences and trends. The rise of smartphones and the growth of e-commerce markets have further complicated the challenges faced by Korean home shopping businesses. Douqi successfully adapted to Vietnamese youth trends by introducing a unique buffet-style tteokbokki concept. This contrast underscores the importance of a well-defined strategy for entering the Vietnamese market.

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