As Labor Day 2024 approaches, Myrtle Beach merchants are reporting a record slow summer of earnings. Labor Day marks the end of Summer Season.
Myrtle Beach restaurants, entertainment venues, and retail stores continue to struggle even as some City of Myrtle Beach Hotels report a record summer.
The Myrtle Beach National Company of hotels reported one of its most successful summers to date. Among the partners in Myrtle Beach National’s portfolio are two vacation rental companies – Beach Vacations and Lachicotte, as well as The Breakers Resort, The Strand, Litchfield Beach & Golf Resort, and the Oceanfront Marriott Springhill Suites/Courtyard dual brand, which has a value of $79 million.
Several business owners claim that their sales have dropped by as much as 20%. Tuvia Wilkes, the proprietor of Kings General Store located at the intersection of 3rd Avenue South and Ocean Boulevard, informed MyrtleBeachSC News that his summer sales had experienced a decline of 30% to 35%.
The Myrtle Beach Chamber of Commerce announced on Thursday that, despite facing certain difficulties, the summer season in the Myrtle Beach area has exceeded expectations. The chamber acknowledged the impact of economic troubles and the recent Tropical Storm Debby on tourism, but reassured that this year’s figures are nearly identical to those of 2023.
Myrtle Beach Merchants – why the disparity?
Myrtle Beach merchants are experiencing a decline in sales, and it is not solely due to Bidenomics. The typical length of a vacation stay at hotels in the City of Myrtle Beach, which is four days, has been a subject of complaint among many restaurants and retailers.
While most guests who visit Myrtle Beach stay for four nights, those who visit North Myrtle Beach, Surfside Beach, or Garden City tend to stay for an average of seven nights. Merchants are not struggling in those cities like they are in Myrtle Beach.
Myrtle Beach Hotels can command higher prices for weekend stays, but this leaves local merchants with little business from Monday to Thursday mornings, causing them financial hardship.
Le Manna Bread International Bakery and Café, an Arts and Innovation District bakery, announced their closure to the public in the previous Spring, merely four months following their grand opening. Subsequently, the bakery ceased operations.