New words – 23 May 2011

fast following noun the practice of creating businesses by copying existing start-ups that have been successful

But most of the companies grabbing at Groupon’s coattails […] are relying on a strategy called fast following — the idea that copying a blockbuster start-up yields fewer risks and potentially great rewards. [New York Times (US broadsheet) 10 March 2011]

pound town noun a town whose high street is full of pound shops and other discount stores

Blackpool isn’t the only pound town. [BBC Radio 4 24 February 2011]

water poverty noun the inability to pay for water bills

Water poverty will become the new fuel poverty for an increasing number of households as scarcity of supply pushes up bills
[The Observer (UK broadsheet) 20 February 2011]

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