New record for Dare County retail sales set in 2023
Retail sales in Dare County set a new annual record in 2023, while January’s rough weather likely led to a sharp decline in occupancy and meal collections to start 2024.
According to figures that will be presented to the Dare County Tourism Board at their March 21 meeting, retail sales in Dare County totaled $116,639,257 last year.
That’s up 2.82% from 2022 (+$3,200,355). It’s the sixth straight year of an increase in retail sales, but the second-lowest rise over that period (2018, +1.51%).
In December, gross collections at retailers were at $6,078,081, an increase of 1.19% from 2022 to also set a new high for the month.
The only months in 2023 to see declines from the previous year were May (-9.6%), September (-0.55%) and November (-0.55%).
The highest single month in 2023 was August ($19,353,849), while the lowest was January ($5,498,489).
Retail sales in June, July, August, September, and October topped the $10 million mark for the third straight year. Between 2018-2020, July, August and September were the only months that topped $10 million.
The start of 2024 was less than ideal for hotels/motels/vacation rentals and restaurants in Dare County, thanks to multiple weekend weather events that may have discouraged travel to the Outer Banks.
There were also a number of properties and establishments that took off for the first month of the year for some much-needed rest after the holidays, while others started on renovation projects ahead of the upcoming season.
Gross occupancy receipts in January were $15,588,394, down 51.78% from 2023 ($32,326,040), and the lowest January since 2020 ($8,223,680).
Other than online travel companies (+10.03%), all other classes declined in January.
Bed and breakfasts were off by 87.82%, timeshares -61.69%, campgrounds -59.55%, property management agencies -54.55%, hotels/motels -7.59%, cottages -5.39%, and other rental properties -0.61%.
Hatteras Island had the biggest decline of the three geographic districts, 89.3%, likely due to the threat of overwash and flooding events over multiple weekends in January.
Roanoke Island/mainland occupancy dropped 16.67%, and the northern beaches were down 6.84%.
Prepared meals gross receipts totaled $11,179,366 in January, a decline of 25.54% behind last year’s $15,014,241.
The northern beaches had the biggest drop off in meal receipts of the three geographic districts, -28.51%, followed by Hatteras Island, -14.33%, and Roanoke Island, -7.09%.
