Down Trading
- July 28, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
No Comments
Subject: Economy
Context:
Amid pay cuts and job losses due to the outbreak of the pandemic and lockdown, the trend of down trading is on rise.
Concept:
- Down trading refers to the practice of switching from expensive products/brands to cheaper alternatives in a bid to conserve cash.
- Products which meet the basic requirements are preferred over those that are perceived to be value-adding.
- This trend is seen not only in small-ticket consumption items but also in vehicle or durable goods purchases.