Definition: In a retail operation, a reduction of price from the full original price or suggested retail price of an item offered to end-users is called a discount.
Temporary discounts are often given for a limited time during marketing and sales promotion periods to create a sense of urgency in consumers to make a purchase. Permanent discounts, also known as "markdowns," are used to move inventory out of the store in order to make room for new merchandise.
Also Known As: price reduction, sale, markdown, rollback, clearance, coupons
Common Misspellings: discont, discownt, diskount, descount, dyscount
Examples: Neiman Marcus surprised the retail industry by offering widespread discounts on its merchandise during after-Christmas sales.
