Meaning of “trade down” in the English Dictionary

"trade down" in Business English

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trade down

phrasal verb with trade uk /treɪd/ us 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)