Word: Price Reduction
Definition:
A price reduction is when the selling price of an item is lowered or decreased. This means that the item now costs less money than it did before.
Usage Instructions:
You can use "price reduction" when talking about sales, discounts, or promotions in stores, online shopping, or when discussing changes in prices for services.
Example Sentence:
"The store is having a price reduction on all winter coats, so you can buy one for a lower price."
Advanced Usage:
In a business context, you might hear phrases like "strategic price reduction," which refers to a planned decrease in prices to attract more customers or to compete in the market.
Word Variants:
- Price Reductions (plural) - refers to multiple instances where prices have been lowered. - Reduced Price - is another way to say that an item is being sold for less than its original price.
Different Meaning:
While "price reduction" specifically refers to lowering the price, it is important to note that it does not mean the item is of lower quality; it simply means you can buy it for less money.
Synonyms:
- Discount - Sale - Markdown - Price cut
Idioms:
There aren't specific idioms that directly relate to "price reduction," but you might hear phrases like "a steal" to indicate that something is a great deal because of a price reduction. For example, "That jacket is a steal at half the price!"
Phrasal Verbs:
Although there aren't common phrasal verbs directly linked to "price reduction," you might hear "mark down" used in a sentence like: "The store decided to mark down the prices of their summer collection."
Summary:
A price reduction means that the cost of an item is lowered. It can happen during sales or promotions and is a great way to save money when shopping.