phase-out

Vocabulary Word

Definition

'Phase out' means to gradually stop using something or doing something, often to be replaced by another thing. It's like replacing your old cellphone with a newer model over time.

Examples in Different Contexts

In retail, stores might phase out older product lines to introduce new ones. A retail manager could explain, 'We’re phasing out last season’s clothing to make room for the new collection.'

Practice Scenarios

Creative

Scenario:

As new fashion seasons approach, we need to strategize for managing our existing stock and introducing the new collection.

Response:

At this stage, we should probably start phasing out the current inventory and make room for the winter collection.

Business

Scenario:

The profits of our conventional product line have been diminishing. Perhaps, it would be wise to focus on emerging markets and technologies.

Response:

In view of this, it would be apt to start a phase-out process for the old product range.