In Korea, there are more than 1,500 traditional retail markets selling agricultural and other products to consumers, but the number has gone down a lot recently due to increasing number of discount stores and department stores. The purpose of this paper is to analyze consumers' recognition of traditional retail markets using a multinomial logit model and suggest strategies to promote the traditional retail markets. The results of the analysis present several implications: First, most consumers often buy small amount of products and are satisfied with the quality of products in the traditional retail markets. Second, investment in parking facilities for consumers is the most important physical factor. Third, the difference in consumers' characteristics requires differentiation of strategy on physical or non-physical factors to promote the traditional retail markets.