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Sales & Retail vocabulary · Negotiation & Pricing

Concession

Meaning in sales & retail, with examples

/kənˈseʃən/nounCommon term

In sales & retail, concession means: Something one side gives up or agrees to during a negotiation, such as a lower price or an extra service, in order to reach a deal.

In Turkish: taviz, ödün

How it is used

A key word in negotiation. You make, offer, ask for or win a concession. Experienced negotiators trade concessions rather than give them away: “If we lower the price, can you commit to two years?”

Example sentences

  1. We made one concession on price, but in return they agreed to a three-year contract.

  2. Don't offer a concession before the customer even asks for one.

Common collocations

  • make a concession
  • ask for a concession
  • trade concessions
  • price concession
  • negotiateTo discuss the price, terms or conditions of a deal with the other side in order to reach an agreement that both can accept.
  • discountA reduction in the normal price of a product or service, given for example to win a deal, reward a loyal customer or sell old stock.
  • win-winDescribing an agreement or situation that gives both sides something they want, so that neither side feels it has lost.
  • bottom lineIn negotiation, the lowest price or worst terms you are willing to accept; more generally, a company's final profit, or the most important point.
  • push backTo resist or argue against a price, idea, request or deadline, usually politely and as part of a discussion rather than as a final refusal.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Negotiation & Pricing

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