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"IT'S A MIRACLE" - Quincy jewelry store grateful to still be in business despite inflation

What started by repairing a woman's watch, turned into a 71-year-old business.
Posted at 5:43 PM, Sep 28, 2023
  • Small businesses in Quincy are feeling the effects of inflation
  • Padgett's Jewelry has been in business for 71 years
  • Take a look at the video above to find out their story

BROADCAST TRANSCRIPT

I'm Ashley Engle in downtown Quincy trying on some ear rings here at Padgett's Jewelry. I spoke with the owners of the store, and they told me that inflation has been a challenge and they are taking it, day by day.

"That girl put me in business."

This is Rex Padgett. What started by repairing a woman's watch, turned into a 71-year-old business located on the corner of Madison and E Jefferson Street in downtown Quincy.

"I never saw her again, but she really told people about it."

Rings, Necklaces and bracelets you name it, Padgett's has it. Padgett's daughter Virginia has worked at the shop since she was a little girl.

"It was just mom, my dad and myself for a while."

She showed me many of the pieces they carry. When I asked her about inflation and the struggles of being a small business during this time she said….

"… I'm not going to tell you that it's wonderful… I think God has provided everyday…. He really has… miracles…. absolutely miracles."

It's not just the price of operation that businesses like Padgett's Jewelry are facing, it's people not having enough money left over to spend on so called "fun things" due to the price of necessities rising.

I spoke with David Gardner about Inflation in Quincy and the effects he's seen in the area.

"Items are much more expensive due to supply chain issues, the interest rates and the cost of doing business and labor costs."

Many of you have reached out to me about the issue.

I've noticed gas, Groceries and rent prices have gone up in Quincy.

The U.S Bureau of labor statistics shows from August 2022 to August 2023, food prices have gone up by 4.3%.

Now, those rising costs is driving business down for people like the Padgett's. Inflation isn't the only factor, though.

"Years ago, it was the big box stores. Now, we are seeing more online shopping. So that impacts the community greatly."

The Padgett's tell me times are tough right now, but they continue to enjoy every face that they get to quote "be a blessing to"

"they come in as customers….but they leave as friends….that's my favorite part"

Padgett's Jewelers has been doing live streams on Thursday's at 7 p.m. on Facebook in order to reach more people online when it comes to shopping online. The store is open Wednesday to Saturdays from 9 a.m. to 6 p.m. In Quincy, I'm Ashley Engle