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Meaning of “trade down” in the English Dictionary

"trade down" in Business English

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trade down

phrasal verb with trade uk   us   /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 ​savemoney at ​bargainchains.
COMMERCE to ​buy something, usually a ​house or ​car, that is of a ​lowervalue than the one you already have: You only ​gain if you own ​residentialproperty as an ​investment or you are ​anticipatingtrading down.trade down to sth I'm ​trading down to a ​cheapermodel.
(Definition of trade down from the Cambridge Business English Dictionary © Cambridge University Press)
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“trade down” in Business English

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