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English definition of “trade down”

trade down

phrasal verb with trade     /treɪd/ verb
COMMERCE, ECONOMICS to spend less money when you buy things than you did before: Economists predict that shoppers will trade down this season, bypassing full-price stores to save money at bargain chains.
COMMERCE to buy something, usually a house or car, that is of a lower value than the one you already have: You only gain if you own residential property as an investment or you are anticipating trading down.trade down to sth I'm trading down to a cheaper model.
(Definition of trade down from the Cambridge Business English Dictionary © Cambridge University Press)
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