YOU might think it would be memory cards, DVD recorders or cameras that people want as freebies when they buy a gizmo at the IT Show.

But this year's most coveted free gift is NTUC Fairprice vouchers - a sure sign of bad times.

This is practical Singaporeans at work. People want the vouchers to buy groceries.

Another sign of bad times at the IT Show, is the slashing of prices.

By 12.30pm on Thursday - the first day of the expo - some companies had already slashed their product prices. A Casio camera advertised at $399 was going for $349.

Japanese companies were also eager to rack up as many sales as possible since they are closing their financial accounts for the fiscal year-end this month meaning  consumers can expect  a lot of price slashing to clear stocks.

Bad times have also hit consumer electronic outlets whose sales have slowed down since mid-January and vendors tell me that their retail business is down 20 to 25 per cent.

So at this IT Show companies are looking to sell more to cover the dip in retail sales.

Usually vendors treat opening day as one for intelligence gathering, that is, scoping out the competition. They spy on their competitors to see what they're offering and at what prices.

Then they will adjust their own prices to make their products more competitive.

By Sunday when the fair ends, consumers can expect at least another five to 10 per cent price cut on items, and even more freebies.

This IT Show is a price driven one. For consumers, it means better shopping and great deals!