price-cutting

A store advertises price-cutting on its electronics.

Definition

Noun: price-cutting refers to the act or practice of reducing the selling price of goods or services, typically to attract customers or compete with other businesses.

Usage Examples

• (The company deliberately lowered its prices to gain more customers.)
• (The act of reducing prices by large stores negatively affects smaller shops.)
• (The practice of lowering prices is frequent during festive periods.)

Advanced Usage

• : a situation where multiple businesses repeatedly lower prices to outdo each other.
  • The price-cutting war between the two supermarkets hurt their profits. (The intense competition over lowering prices damaged their earnings.)

Variants and Related Words

• Price-cutter (noun): a person or business that engages in price-cutting.

  • The store is known as a price-cutter, always offering discounts. (The store is famous for reducing prices.)

• Price-cutting strategy (noun phrase): a deliberate plan to reduce prices for competitive advantage.

  • Their price-cutting strategy attracted many budget-conscious shoppers. (Their plan to lower prices drew in customers looking for bargains.)

Synonyms

• Discounting: the act of offering goods at reduced prices.
• Markdown: a reduction in the original price of an item.
• Price reduction: the lowering of the cost of a product or service.

Related Idioms

• Cut prices to the bone: to reduce prices to the lowest possible level.

  • The store cut prices to the bone to survive the recession. (The store lowered prices extremely to stay in business.)

• Race to the bottom: a situation where competitors reduce prices to unsustainable levels.

  • The price-cutting led to a race to the bottom, harming everyone involved. (The continuous lowering of prices caused all competitors to suffer.)