PANAMA CITY, Fla. (WJHG/WECP) – Local business owners are having to be strategic in what they can buy for their stores as inflation ticks up.
“Even when we’re buying products, some of the products that we have we can’t even afford to buy,” said The Little Mustard Seed Co-Owner Greg Snow.
Shipping costs are a concern for local small businesses these days.
Snow said rising shipping costs are keeping him from stocking certain items.
“We wanted to bring in a line of rocking chairs that were outdoor rocking chairs, but the shipping for us would have been over 40% of the items,” Snow said.
The Little Mustard Seed on Harrison Avenue isn’t the only brick in mortar store feeling the sting from these steep transportation fees.
C & G Sporting Goods is just down the road and is dealing with similar issues.
“So what that’s going to do is your shipping costs are going to go up,” said C & G Sporting Goods Operating Partner Nate Taylor. “Obviously, diesel, the guys in the trucks, jets, even firearms. Pistols have to fly by air legally.”
Since shipping costs are trickling down to costumers, Taylor said it’s important to be smart with how you spend your money.
“You can look at consumer reports and you can also look at price indexes,” Taylor said. “You can make better-educated decisions on when you should buy things. So if there’s something you really want, maybe the price index for that is really high, but in two months it’ll be really low.”
For example, Taylor said his Cub Scout booklets have increased nearly 30% in price.
Thinking outside the box to stay competitive in today’s market is therefore crucial.
“We establish relationships with companies that keep wanting to push forward and introducing new products,” Taylor said.
Doing the small things can save people some extra cash as inflation remains in the midst of uncertainty.
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