Definition of “laggard” - English Dictionary

“laggard” in Business English

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laggardnoun [ C ]

uk /ˈlæɡəd/ us

a company, organization, etc. that does something later, or improves less quickly, than others:

Mexico, long a laggard in financial reform, is at last putting its banks in order.
Steel companies are still considered laggards compared to high-tech manufacturers.

MARKETING someone who buys a product at a much later date than most people:

I confess to being a laggard over this form of tax-free investing.
The last remaining laggards have now bought mobile phones.

(Definition of “laggard” from the Cambridge Business English Dictionary © Cambridge University Press)