What’s behind the Miami Valley’s retail boom?

credit card retail
AP Photo/Mark Lennihan, File

DAYTON, Ohio (WDTN) — The store openings just keep stacking up.

One after another major retailers are opening their doors in the Miami Valley, starting with the Apple Store at the Greene in July followed by Nordstorm Rack in September.

Now Field and Stream is set to open this month at Austin Landing and Costco is opening next month at the Cornerstone of Centerville.

A first Whole Foods is slated for next year.

So why all these openings now?

“I think it’s mostly because the recession has lasted far too long for the companies to hold back on making any kind of a move,” says Serdar Durmusoglu, Associate Professor of Marketing at the University of Dayton.

Durmusoglu says if not for the recession, these stores likely would have opened here a few years ago.

Now with things improving they don’t want to miss out.

“Three years from now they don’t want to be the ones staying put when some of their competitiors were expanding elsewhere,” Durmusoglu says.

But now that they’re here, when it comes to customers will they have what it takes to draw them in?

“I think in the long run most of them will stay but we might lose one or two,” Durmusoglu says.

Durmusoglu says it takes a year or so for a store to become profitable. Although the issue might not be the new stores but other retailers being squeezed out of the market.

“It might not be Apple moving out but Best Buy deciding they can’t stay here,” Durmusoglu says.

But for now Miami Valley shoppers can expect to have more options nearby this holiday season.

“Now they are located right within their vicinity so they might have a better time, which might leave more time for more shopping which might be a good thing,” Durmusoglu says.

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