Definition

1. Noun:
   • A decrease in the selling price of goods: "price reduction" refers specifically to the action or instance of lowering the cost at which merchandise is offered for sale.

Usage

• "Price reduction" is used as a countable noun, typically in commercial, retail, and economic contexts. It describes a deliberate commercial action.
• It often follows verbs like "offer," "announce," "implement," or "receive."
• Example structure:

Examples

• Noun:
  • The store announced a significant price reduction on all winter clothing.
  • To clear old inventory, the manager authorized a 20% price reduction.
  • Consumers are always pleased to see a price reduction on essential goods.

Advanced Usage

• "across-the-board price reduction": a price cut applied to all items in a category or store.
  • The electronics chain implemented an across-the-board price reduction for the holiday weekend.
• "temporary price reduction": a price cut that is effective only for a limited period.
  • The temporary price reduction on fuel ended last Monday.

Variants and Related Words

• Discount (n): A deduction from the usual cost. While similar, a "discount" can be a specific amount or percentage off, whereas a "price reduction" is the general act or result of lowering the price.
• Markdown (n): A reduction in price, especially in retail contexts. This is a close synonym.
• Price cut (n): A common informal phrase with the same meaning as "price reduction."
• Sale (n): An event during which goods are sold at reduced prices. A "sale" involves "price reductions."

Synonyms

• Markdown
• Price cut
• Decrease in price

Antonyms

• Price increase
• Markup (an increase in the selling price)

Related Phrases

• To reduce the price: The verbal phrase describing the action.
  • The company decided to reduce the price of its flagship product.
• Reduced price: The resulting state of the merchandise.
  • She bought the laptop at a reduced price.

Noun

1. the act of reducing the selling price of merchandise