markdown

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

Origin:
Americanism; noun use of verb phrase mark down

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World English Dictionary
markdown (ˈmɑːkˌdaʊn)
 
n
1.  a price reduction
 
vb
2.  (tr, adverb) to reduce in price

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Some markdown amounts also deviated from industry practice.
Markdown money is a standard part of the apparel industry.
Miller developed the firm's markup and markdown policies and procedures, and
  participated in their implementation.
Understand how to calculate markdown in dollars and how to determine sale price
  and maintained markup.
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