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markdown

[mahrk-doun]
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noun
  1. a reduction in price, usually to encourage buying.
  2. the amount by which a price is reduced.
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Origin of markdown

Americanism; noun use of verb phrase mark down
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for markdown

markdown

noun
  1. a price reduction
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verb mark down
  1. (tr, adverb) to reduce in price
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012