The Art of Bargaining: In many traditional Chinese markets, street stalls, and even some smaller shops, prices are not always fixed. The expectation to bargain, or `讨价还价 (tǎojià huánjià)`, is common. Asking for a 降价 is a standard part of this social and economic interaction. It's often less about being cheap and more about participating in the expected ritual of the transaction.
E-commerce Mania: In modern China, 降价 is the engine of massive online shopping festivals like “Singles' Day” (双十一 - Shuāng Shíyī on November 11th) and “618” (on June 18th). During these periods, brands and platforms compete by announcing huge 降价 promotions, and the term is plastered across every app and website. It signifies a major, often time-limited, sales event.
Comparison to Western Culture: In the West, we typically use terms like “sale,” “discount,” or “markdown.” While 降价 can mean all of these, it's more literal. The closest Western concept is a “price drop” or “price cut.” The key difference is its active use in bargaining. An American shopper is less likely to walk into a store and ask the manager to “lower the price” on an item, whereas in the right context in China, this is perfectly normal.