During recessions, consumers are extremely cost and service conscious. Customers will switch from your competitors right now for the smallest discounts or friendly nod in their direction.
You can’t go so far as predatory pricing, but in a slowdown, virtually everyone is looking to save a buck. So target your competitors’ customers and start offering them what it takes to get them to move to you.
Cable and phone companies do this ALL the time, so don’t think this is something new.
Go ahead – steal them away.