Businesses see ‘pandemic rebound,’ even amid rising inflation

Local News

DENVER (KDVR) — Gas, rent, clothing and gift items are more expensive compared to last year according to the U.S. Labor Department, but increased demand for things like clothing and travel are boosting business revenues.

Business owners call it “pandemic rebound,” driven by frustrated consumers who are ready to spend this holiday season and enjoy holiday events that were restricted over the past two years.

Economists say the Consumer Price Index rose nearly 7% in November compared to a year ago. The CPI measures everything from gas and healthcare to rent. Some business owners tell FOX31 price increases aren’t scaring away consumers ready to place a renewed value on shopping and dining out.

“People are out there going to parties going to weddings again,” Denise Snyder, owner of the Mariel boutique in Cherry Creek North, told FOX31.

Snyder said she lost 80% of in-store traffic in 2020 because of the pandemic, but her business has fully recovered.

“Now it’s a game-changer. It feels wonderful, because we weren’t sure last year what would happen, we didn’t know how long it was going to go on, so it’s really exciting to see mid-quarter, this last quarter, getting back to normal,” she said.

Snyder’s customers are working women, bridal parties and even celebrities who come to her boutique from across the country to be dressed for special occasions.

She said always providing affordable price options, despite inflation, is the key to keeping any business open and thriving.

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