Retail stores have a lot of competition these days, not just from similar stores, but from online retailers as well. However, experts have been predicting a brick and mortar comeback for a few years now, so finding ways to stand out from others, to raise awareness, and drive revenue has become increasingly important. One excellent way to do that is implementing an EV charging station at your retail location.
Quick Links
- Retail EV Charging Station Successes
- Challenges in the Current Retail Market
- How Stores Can Boost Sales With Retail EV Charging Stations
Retail EV Charging Station Successes
It’s no secret that nearly every industry keeps an eye on competition to see what initiatives work, what ideas gain traction, and which of those translate to success. In fact, benchmarking is considered an essential aspect of business and can help business leaders champion new ideas.Now, more than ever, with significant grants and incentives available through measures like the infrastructure bill, retail stores of all sizes are looking at how they can take the support and demand for EV infrastructure and bring it to their lots.
With that in mind, let’s take a quick look at some of the retail stores that have had success with EV charging stations. Among the behemoths is Walmart who, in April of 2023, announced they’d be adding thousands more EV charging stations to their stores by 2030, with a significant push happening sooner rather than later.
Other big retailers making this move include:
- Ikea
- Kohls
- 7-Eleven
- Macy’s
- Kroger
- Starbucks
- Subway
- Taco Bell
- Walgreen’s
- Whole Foods
- Sears
- Meijer
- Lowe’s
Similarly, charging as a service is increasing accessibility for retailers as it puts the service within reach, limits retailer risk, and still provides many of the benefits.
Challenges in the Current Retail Market
Obviously, as we’ve suggested, one of the biggest challenges facing retailers is the cost, especially with other struggles in the retail sector. In addition to battling online retailers, inflation, and labor shortage, there are certainly challenges to implementing an EV charging program.
Space is often a huge challenge for retailers. In fact, lack of parking, crowded lots, or poorly designed lots are often a deterrent to shoppers. So, when it comes to considering an EV charging program, retailers must consider how EV charging spaces may further impact limited parking.
Power management is also a challenge, not just for retailers but for all locations with EV charging stations. Understanding power capacity and limitations based on the grid can limit how many stations can be placed on a property and, for station owners, that also means managing power loads and usage. This is where your EV charging platform management system can do for you.
And, much like power management, system administration and monitoring your stations is also important. While your business model may determine how this works, for retailers who opt to own and host their own stations, you’ll need to monitor for maintenance and performance. That means paying close attention to power management and fees and that means choosing carefully between a networked and non-networked EV charging station.
Pardon the pun, but there’s a whole host of concerns when you’re owning and hosting your own EV charging stations and the EV charging solution provider you choose will have a significant impact on that. You’ll want to choose the provider who’s got the most versatile, transparent, reliable, and powerful platform management. However, you also want your customers, and EV drivers, to have a positive experience too, so take a close look at the EV charging network and its reliability as well.
In short, one of the biggest challenges is finding the right solution, one that works for you, your circumstances, and for your customers. Far too many retailers, and other EV charging station owners, have found themselves stuck with EV charging stations and providers who can’t deliver. And still, with the right EV charging stations, the benefits are clear.
How Stores Can Boost Sales With Retail EV Charging Stations
The very real truth of EV charging in the retail sector, as the big retailers have learned, is that EV charging stations at your shop translate to very real dollars spent at your registers.
1. Increased time in store means increased spend
Statistics suggest that customers spend at least $1 for every minute they spend in your store. So, when we factor in that customers may not just want to, but need to, spend more time in your store while their car is charging in your lot. With a Level 2 charger, this means customers may be spending anywhere from 30-45 minutes in your store or retail shopping center.
2. A full lot communicates to potential customers
As a consumer and driver, you’ve likely driven by a lot of locations with empty lots and either noticed the shortage of customers or not noticed the store at all. In contrast, a full lot often draws attention and provides, at the very least, the perception of quality and popularity, the kind that attracts other customers.
3. Quite literally puts you on the map
When it comes to marketing, the first goal is to raise awareness and get your name out there with consumers. EV charging stations networks and apps help consumers find EV charging stations and, with you on the map, they’ll find you too. When you combine this awareness with the dwell time, as discussed in #1 above, we have the perfect recipe for new customers.
4. Enable marketing, branding, and shopper incentives
Depending on your EV charging solution provider, as we mentioned before, your EV charging app may offer the opportunity for targeted marketing using geolocation information. Similarly, you can co-brand or brand your EV charging hardware and, through a versatile and flexible EV charging platform management system you can offer incentives for EV drivers and regular customers. That is, you can add EV charging discounts and more to your already existing loyalty programs which are proven to drive revenue.
While pricing is coming down for electric vehicles, historically, they’ve been a higher end vehicle which often means individuals with more disposable income to spend at your location. That said, EVs are also known to attract drivers who are aware of their carbon footprint and concerned about the impact their choices have on the environment. They also tend to shop with their values. So, your decision to include EV charging at your retail location can make a significant impact on these consumers leading to increased loyalty.
6. Build connections and relationships with consumers
As we said, EV drivers are typically mindful consumers. And, more and more, millennials and Gen Z (among other generations) are voting with their dollars. In short, they’re socially conscious and environmentally aware consumers and that means they’re actively choosing to shop with retailers who share, and most importantly, demonstrate those same values.
All of these are great at your register and great for creating return and repeat customers, especially if the EV charging service you’re providing is reliable. That means choosing the right EV charging solution provider.
Not only does NovaCHARGE have the best reliability in the industry, but with some of the best support and warranties available, we can help tailor your retail EV charging solution to your needs. We’ll start with a site analysis and ensure you don’t get more, or less, than you and your customers need.
If you’re ready to help your customers charge their cars, and at your register, then let’s start talking today!
