Local Businesses Thrive in Slumping Economy

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Local Businesses Thrive in Slumping Economy

By Michelle Mantel

Some local business owners also say their businesses are booming regardless of the national economy.
Their goods are things most people could do without, but probably won't no matter how bad the economy gets...

It's certainly not the time to party for many businesses and players on Wall Street.
But owners inside Party World say their store will cash in, regardless of the nation's economic situation.

Doug Padgett, owner of Party World said, "Most people regardless of their economic situations will tend to celebrate their children's birthdays, a wedding, an anniversary, all those different types of things and we have wedding supplies we have gifts, just all types of stuff."

The kind of stuff Padgett hopes will keep the business growing, or at least keep sales steady for the next few months.

"I feel if we can make it these next 6 months we should have no problem continuing on as the economy turns around and the markets stabilize", added Padgett.

And over in Washington a consignment store is actually benefiting from the economic turmoil.
Let's take a look inside and figure out why.

Castaways Consignment gives second hand clothing a rather savvy touch, while keeping more money inside the customer's wallet instead of spending brand name prices.

"We try to take things that are current in style and name brand and we try to price them at about one–third of what the original retail would be so it offers definitely a good economic choice for parents who are trying to budget", said Castaways Consignment Owner Cindy Keller.

Customers exchange their items for either cash or store credit.
The jewelry, clothes, or other accessories are then placed on a shelf or rack for others to buy.

The store owner says the new spin on the old thrifty trick helps shoppers and her business.

Keller added, "Our profits are higher than they've ever been which is great because I would say we're one of the few businesses out there that could probably say that right now."

Businesses profiting, and shoppers spending
On the not quite essential things, that aren't likely to go away.

The owner of Castaways Consignment says sales have doubled this fall. The store has been in business for the past six years.

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