Myrtle Beach Businesses Reflect on Summer Season Profit
Summer Closing with an Observant Eye on the Profit Collateral
As the summer sun sets over the picturesque city of Myrtle Beach, businesses lining the renowned boardwalk share that the going has been slow this season. A common claim amongst the shop owners and employees infers a quiet summer, largely impacting the expected profit margins. Jonah Eckert, an employee at the local Myrtle Beach Anime store, reflects the general sentiment stating, “No one’s making money right now, it’s pretty slow.”
Challenging Yet Above Anticipated Summer Season
Notwithstanding the slow business claims, the Myrtle Beach Area Chamber of Commerce has shared a slightly different perspective. The chamber’s recent press release indicates that the season, though challenging, has outperformed their anticipations. Diane Charno, the Vice President of Brand and Communications, states, “While Tropical Storm Debby did impact early August occupancy, the overall summer performance remained strong.”
It’s not that foot traffic on the boardwalk hasn’t taken a hit. Still, the businesses acknowledge a distinct feeling about the season. Matan Morovitz, manager of Unique Gift Shops, shares his observation, “It’s been a weird year. Usually, it’s busy on the weekends, the weekdays it’s not so much.”
Stats Indicate a Slight Dip
Data collected from STR lodging elucidates that the in-hand position is likely somewhere in the middle. The hotel occupancy statistics for July and August averagely reveal a 3.4% dip compared to last year. To demonstrate, July 2024 average occupancy figured at 76.5%, dropping 1% Year-on-Year. August followed the slump at 64.9%, down 3.4%.
Economy’s Role in the Profit Dip
Reflecting on the underperforming summer season, many business owners sense a broader picture. Morovitz echoes the opinion of his counterparts, pinpointing the current economic climate as a significant contributor, “I would say economy, that’s what I think. People don’t want to spend their money as much.”
Labor Day Weekend: A Hope for Businesses
As the Labor Day weekend looms, a palpable hope fills the air amongst boardwalk businesses. The anticipation of a final wave of tourists before winter sets in hangs heavy. An optimistic Eckert shares his expectations, “I think I like interacting with people, I like talking with people, and asking about where they are from, or if they are on vacation or anything, so I hope it picks up.”
Despite the slow summer profits this year, the Myrtle Beach Area Chamber of Commerce stands by their claim that Myrtle Beach remains an eminent and popular summer beach destination this year.
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