I would agree with having a different day then Saturday. Around here the main market is held on Saturday. Add in a time that's later in the day than most vendors and especially customers prefer and it just leads to a weak market. I probably hear at least half of the market asking for a Tuesday or Thursday evening instead.
For time of day almost all vendors and customers want it earlier if it must be on Saturday. A few factors contribute to that. By the time the market opens it is getting very hot out. No one wants their produce baking at 90-105 in direct sun, that goes for vendors and customers alike. Last season was especially bad. Some days you would show up and there is literally one vendor. Most prefering the Friday evening market just down the road because they give you as much space as is needed and have food vendors and entertainment as well. As is pointed out above, none of us are going to stay up picking late or get up way way before dawn on a Saturday to pick more produce for a market where the produce gets fried.
Another is we are in natures playground. In the summer the same people who want it to be held the most during the week won't come on the weekend unless it's early. The reason is they want to go fishing, hiking, hunting, cycling, rock climbing, etc. Most people around here get up very early on Saturday because they want to do things before the heat sets in. So even those with only shopping to do are still up before dawn.
At least these are just a few observations from just one market around here. Your market may be different. I would suggest doing a bit of market research to find out what the community wants. If your potential customer base wants a Monday evening market then that's the ticket. Hope some of this helps.
Pappi
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