HUNTSVILLE, Alabama (WAFF) – Rising inflation is making it difficult for small and local businesses to keep up.
Morgan Stillman, owner of the locally owned Kendry Collection boutique, said the products she keeps in store are getting more expensive.
Stillman said people were on tight budgets due to the rising cost of everyday items and thought people were spending less on clothes and accessories.
Although she said she didn’t want to, she had to make the tough decision to raise prices in response to rising product prices.
“I’m definitely seeing prices go up now, I’ve seen prices go up for maybe 6 months, and I’m pissed about raising prices for our customers,” Stillman said.
Stillman hopes prices will drop soon. In addition to the price hikes, she said finding staff was also taking a toll on her.
“It’s definitely a lot harder to hire people now,” Stillman said. “We didn’t have a lot of staff for a while and I knew I was here 24/7 and it was like crazy.”
Dr. Wafa Orman, an associate economics professor at the University of Alabama in Huntsville, said it’s not big-box stores like Walmart and Target that suffer, but small businesses.
PhD. That’s because big box stores are buying up last year’s items, Orman said. As for small businesses, owners are focusing on current trends.
“They’re focusing on what’s being produced now, not what’s taking a long time to get here, and those prices might be a little bit higher,” Dr. said. Orman said.
According to Dr. Orman, local business owners are paying for it, and it’s only going to get worse as inflation continues to rise.
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