What are reductions to the original selling price of items used to stimulate quick sales referred to as?

Reductions to the original selling price of items that are utilized to stimulate quick sales are referred to as markdowns. Markdowns are often implemented to encourage quicker turnover of inventory, especially on items that may not be selling as anticipated or are seasonal products that need to make way for new inventory.

Markdowns can attract price-sensitive customers and help clear out old stock, making space for new merchandise. This pricing strategy allows retailers to respond to market dynamics and consumer demand, effectively managing their inventory levels.

While discounts and price adjustments may sound similar, they typically refer to more general concepts of reducing prices, which might not specifically imply an effort to stimulate quick sales. Sales promotions often encompass a broader range of marketing strategies that can include but are not limited to markdowns, as they may involve marketing campaigns or special events rather than solely focusing on price reductions.