Abstract

Marketing researchers have constantly studied formal markets (e.g., supermarkets, department stores). However, few marketing studies have investigated informal markets (e.g., the flea markets). Additionally, these few studies have taken place in developed countries. The main objective of this article is to identify the relevant attributes of flea markets for Latin American shoppers. In this work, the most frequented flea market in Chile is analyzed. The authors concluded that heavy flea market shoppers considered the flea market to be an enjoyable place to shop (e.g., friendly service), offering a wide variety of goods (e.g., bargains, antiques, discontinued products) and low prices; while light shoppers had misgivings about the products (low quality), the services (informality, dirtiness, low guarantees) and ethical problems (tax evasion, stolen goods) associated with flea markets. These results indicate that flea markets do not compete directly with the formal markets.