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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Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
