As electric vehicles continue to grow in popularity, opportunities have arisen for retail businesses that have their own EV charging facilities. By installing electric vehicle chargers, retailers are able to attract more customers and then benefit from their custom while they wait for their vehicles to charge.
We reveal the benefits of installing electric vehicle charging stations, as well as the current shortage of EV charging facilities for those visiting shops.
7 Benefits of EV charging facilities for retailers
There are multiple benefits of introducing EV charging facilities within the retail industry. These include:
- Attract customers that need to charge their electric vehicles
- Encourages vehicle owners to spend with your business as they wait
- Offers something that your competitors do not
- Supports a reduction in carbon footprint
- Backs up sustainable brand values
- Puts businesses on the map as drivers locate charging stations
- Customers stay longer in stores to stay entertained
Current EV charging facilities
Analysis by renewable energy company Drax shows that the majority of retail businesses in the UK don’t yet have enough charging facilities to capitalise on opportunities to increase revenue, created by growing numbers of customers driving EVs.
The study, which looked at supermarkets, retail parks and DIY stores, found that many businesses are yet to install any EV charge points for their customers, and those that have offer an average of just three chargers.
This is despite battery electric vehicles (BEVs) accounting for more than one in 10 new vehicle registrations in July, and company-owned BEV registrations increasing 77% in the first quarter of this year compared to 2021.
Retail parks were found to be the furthest along when it came to EV charge point installation with an average of five charge points.
However, the study highlighted the growing disparity between new developments, which are being future-proofed with the installation of a significant number of charge points and those that are long-established and have fewer charge points available.
For example, a recently revamped retail park like Edinburgh’s St James’ Quarter has capacity for 45 EVs to charge simultaneously, and Oxford’s Westgate has 28 EV charge points.
These examples are in contrast to an average of just five across the retail park sector, with even fewer available at some older retail parks and fewer still for supermarket and DIY store customers, which currently offer an average of just two charge points.
Why retailers need more EV charging points
Adam Hall, Director of Energy Services at Drax, said: “If retail businesses want to keep pace with their competitors, they should invest now in good EV charging facilities. It will help to attract new customers as well as better serving their existing ones.
“Customers are likely to spend more during their visit if drivers are there for longer, charging their vehicles. Combining this additional spend with any profits made for charging makes it easy to see the business benefits and return on investment.”
Introduce EV charging facilities now
With electric vehicles expected to soar in popularity in the coming years, now is the perfect time to begin installing the infrastructure for EV charging facilities and reaping the benefits.
Holly brings a wealth of experience in both print and digital publishing. As Modern Retail’s Content Editor, Holly is passionate about helping independent retailers to thrive in today’s ever-changing market.
