Price War (Noun)
Meaning
Intense competition in which competitors cut retail prices to gain business.
Classification
Nouns denoting relations between people or things or ideas.
Examples
- The airline industry has been plagued by a price war in recent years, with many carriers struggling to stay afloat.
- The two tech giants engaged in a price war, each trying to undercut the other's prices for their latest smartphones.
- The price war between the two supermarkets has been going on for months, with each side trying to outdo the other in terms of discounts and promotions.
- The company's decision to start a price war with its competitors has been met with skepticism by some analysts, who question whether it's a sustainable strategy.
- The price war in the e-commerce space has led to significant losses for many online retailers, who are struggling to maintain profit margins in the face of intense competition.