As soon as Spar on the corner of Amiens and Talbot Street in Dublin 1 started selling own-brand 'Credit Crunch' sandwiches for €1 a few weeks ago, there was no denying the recession.

"A sandwich is a sandwich. Everything is so overpriced. It's great to be able to get such a cheap lunch," said one customer. The sandwiches on sale were either ham or cheese on white bread with butter. "They're basic, but what else would you expect for that price? They do the job," added the customer.

Despite all the doom and gloom created by the global banking crisis, there's never been a better time to be a customer – if you have any money to spend that is.

"It's a much better time to be a consumer than it was this time last year," said Dermott Jewell of the Consumers Association of Ireland. "You have to admire shops selling sandwiches for €1. I think it's excellent. It shows the market is waking up and changing."

But the market seems to have little choice. As cash-conscious office workers snub gourmet eateries in favour of cheaper options, cafes and shops have reacted by lowering prices. And it's not just cheap lunches on offer.

Noticed how easy it is to get a table in a restaurant these days? Been window-shopping for a new or second-hand car? Sales staff are tripping over themselves to accommodate the customer and second-hand cars are decidedly cheaper.

Pubs, despite the government's attempt to protect them in the new Intoxicating Liquor Bill, are likely to lose even more customers during the recession. Over 1,500 pubs have closed and thousands of jobs have been lost since 2001, two vintners' organisations claimed recently, while predicting things will get worse.

The winners must be off-licences and supermarkets. A case of 25 bottles of beer is available for about €25 in most off-licences. But with new research finding that Irish people are drinking less, the National Off-Licence Association (Noffla) is less than optimistic.

"Anecdotally, I don't think off-licence sales are up. We feel hit by the recession," according to spokesman Cathal McHugh. "People are being more conservative and not splashing out as much. We also have the supermarkets to compete with. We've remained competitive by introducing a large amount of special offers."

But there are still a lot of savings to be made going out. Many nightclubs have dropped their cover charge, and with free eco-cabs available in Dublin, it's still possible to get around the city for nothing.

With the proliferation of free newspapers all over the country, the general public can get its daily update on the global financial collapse at no cost. Aer Lingus and Ryanair have also been slashing flight prices more frequently, but unfortunately, there's nowhere to go to escape this far-reaching economic downturn.

On the bright side, hiring tradespeople at the moment has never been so straightforward or competitively priced. In a far cry from the situation last year, many are so glad of the work that waiting lists are practically non-existent and service is prompt.

"The downturn has led to an upsurge in the availability of good quality tradespeople," Jewell added. "They'll stand by their quotes, arrive when they say they'll arrive and carry out the work as planned."

The supermarket price war is another bonus for consumers. The biggest recession winners must be German discounters Aldi and Lidl. They arrived here in 1999 and have enjoyed runaway success. The cheap and cheerful German shops now have a 7% share of the market between them and are established favourites. But Dunnes and Tesco have got in on the act now too by slashing prices.

"Prices have dropped in supermarkets, but we still have an unrepentant retail sector," Jewell continued. "We are still paying a lot more for goods here than in the UK. The gap between the sterling and the euro price is still massive and when people notice a mark-up in a product from sterling, they should leave items on the shelf."

As we head into the dark days of winter, the other main piece of good news is that the TV schedule is finally beginning to improve. It's a well-timed move by the state broadcaster, considering we'll all be at home drinking cheap German beer rather than carousing in the pub.

It also seems that being broke is good for romance. Internet dating agencies are reporting an upsurge in membership as people seek partners to weather the bad times.

The oldest profession of them all also seems to be reaping the benefits. Online escort agencies offering sexual services have dropped prices and research has shown that, during stressful times, more men seek out prostitutes.