Introduce staggering price cut (9)
I believe the answer is:
reduction
'price cut' is the definition.
(thesaurus)
'introduce staggering' is the wordplay.
'staggering' is an anagram indicator.
'introduce' is an anagram of 'REDUCTION'.
(Other definitions for reduction that I've seen before include "Introduce by way of discount" , "Introduce (anag) - decrease" , "Lessening" , "Drop in price" , "Decrease, diminution" .)