Prime Minister Malcolm Turnbull’s enthusiasm for all things digital appears to be influencing the language used in business circles, with phrases such as “sharing economy” and “digital disruption” snapping up honourable mentions in this year’s business category for the Macquarie Dictionary’s word of the year.
Each year the Australian dictionary announces a word of the year, with the phrase “captain’s call” taking out the top spot yesterday after it was launched into the public spotlight thanks to former prime minister Tony Abbott.
However, the Macquarie Dictionary’s committee also examined the most interesting words to be added to the dictionary this year across various categories including business, technology and the arts.
“Price baiting” topped the business category due to Australia’s property marketing garnering so much attention in 2015.
Price baiting refers to the practice of advertising a property at a discounted price that would never be accepted, but is instead simply done to lure people to the auction.
The folks at Macquarie Dictionary may also be moonlighting as Uber drivers or dog walkers, with “sharing economy” and “gig economy” receiving honourable mentions in the business category.
Interestingly, “effects test” also received an honourable mention in the politics category.
Recent media coverage of retailers selling faulty hoverboards must have also piqued interest in the Macquarie Dictionary’s offices, with “hoverboard” getting an honourable mention for the general interest category.
And in a sign that small businesses shouldn’t ignore the rise of Instagram, “fitspiration”, “athleisure” and “lumbersexual” also had honourable mentions in the sport and fashion categories.
Here are the Macquarie Dictionary’s top business words of 2015: