Markdown definition
/What is a Markdown?
A markdown is a reduction in the stated price of a product or service. The intent behind using a markdown is to increase sales, or to to eliminate residual inventory amounts. Markdowns are especially common for seasonal goods, so that a retailer can eliminate these items from stock by the end of the traditional selling season; otherwise, these goods may be completely unsellable.
A temporary markdown can be used to achieve short-term sales goals or to heighten the level of competition with key competitors.