For years, electric vehicle (EV) charging has been perceived as the domain of traditional fuel retailers. Charge Point Operators (CPOs), often affiliated with fuel brands, have historically dominated the conversation and infrastructure landscape. However, this narrative is shifting. A growing number of urban retailers are now recognizing the economic and strategic benefits of hosting fast-charging stations on their premises.
The New Reality of EV Charging
Instead of idling at a charging station, customers can now spend time productively during their wait. For example, as Walmart, the largest U.S. retailer, installs charging stations, consumers will browse aisles and charge their EVs at the same time. This investment is a move toward sustainability and profitability.
Increased visits: A peer-reviewed study by Boston University and University of Wisconsin-Madison researchers found a 4% increase in monthly visits for retailers near fast-charging stations, with the effect more striking in closer proximity.
Competitive differentiation: In industries where rivals do not yet adopt EV chargers, setting up EV chargers will make any business a trendsetter. Where competitors do have chargers, businesses avoid losing eco-conscious customers.
Revenue streams: Obtain charging fees and longer customer dwell times at the retail shops.
Recognizing the advantages of EV chargers, retail stores adjacent to travel corridors are staying relevant and profiting from the growing EV charging industry. According to Consumer Reports, EV charging stations are available at a small share of retail stores: 1 out of every 14 big box stores, 1 out of every 15 grocery stores, and 1 out of every 40 department stores.
Retail Charging Success Defined by Reliability
EV drivers want chargers that work, and a faulty station with low uptime (the percentage of time that a charging station is fully operational) would erode trust in the store brand. Partnering with reliable providers will ensure maintenance of a reliable reputation.
At viveEV, we understand that reliability is what keeps retailers competitive, so we focus on offering industry-leading high uptime at 99.8% so that our chargers are operational when customers need them. With seamless integration by efficient, saved space consumption, EV chargers become scalable solutions.
Retailers who act now will capture loyal customers, incremental revenue, and a reputation for sustainability. Will your business be a spectator or a pioneer in the urban EV revolution?
For more information on how viveEV can reliably work with you, visit https://www.viveev.com.