Retail EV charging refers to when retailers such as restaurants, hotels, supermarkets, convenience stores, and others offer electric vehicle (EV) charging stations on their properties to the public. Hosting EV charging at a store can be a good way for retailers to generate additional revenue while helping to expand customer access to charging stations.
Since the increase in online shopping, brick-and-mortar retailers are constantly seeking new ways to drive revenue. At the same time, while a third of drivers say they’d be interested in buying an electric car, charging logistics is the number one hesitation preventing them from making a purchase. Retailers are in a unique position to host EV charging stations on their properties to help meet demand for public EV charging while also reaping benefits.
Benefits of retail EV charging
Retailers are in an ideal position to host EV charging stations. They already own valuable real estate and maintain significant customer-facing infrastructure. Their physical locations often feature parking lots near highways and popular community destinations, making them the perfect fit for charging stations.
Retailers that choose to host EV charging stations on their properties stand to gain a number of advantages.
- Additional revenue: Public EV charging can directly and indirectly increase business revenue. First, retailers can choose from a variety of pricing models for charger fees to generate profits. Secondly, retailers can drive revenue from more in-store sales. Based on the type of battery chargers, EV charging can take anywhere from a few minutes to hours. This offers an opportunity for additional shopping as customers wait for their vehicles to charge. Businesses that install EV chargers typically see a 4% increase in foot traffic and 5% increase in revenue from customers running errands while they charge. Retailers in some areas may even build additional revenue streams by participating in local utility grid stability programs.
- Positive reputation: EV charging stations can also help retailers better differentiate and compete. Customers are generally loyal to specific retail sites and brands and offering EV charging reinforces that loyalty. Retailers can leverage EV charging services to extend their brand as a “green company,” which will attract new, environmentally conscious customers and employees while helping to meet any ESG or sustainability goals. Providing EV charging entices drivers to visit their retail stores versus a competitor that does not offer this service.
- Government funding: Now is the best time for businesses to add EV charging because incentives are available in many areas to help cover upfront costs and limit the initial expense of equipment and installation.
- Advanced analytics: The retail industry thrives on customer analytics, providing pricing guidelines, supply chain management insights, and more. The right EV charging management platform can also deliver similar reporting and analysis to gain a deeper understanding of customer charging behavior and determine potential areas of growth.
- Smart energy management: Furthermore, smart EV charging management platforms can have benefits for the entire property. EV chargers can integrate with onsite renewables like rooftop solar and battery storage systems to maximize energy resiliency, support sustainability, and lower energy costs.
Considerations for a retail EV charging solution
Offering EV charging at a retail store requires a strong focus on customer satisfaction while achieving operational excellence. This includes considerations such as:
Charger type
Retailers considering EV charging stations have several options that vary in speed, cost, and use case. Level 1 chargers are simple and inexpensive to install but slow to charge. This makes them ideally suited for hotels and other places where cars are parked for a long time. Level 2 stations offer faster charging, though not to the level of DC fast chargers. However, Level 2 chargers are more affordable than DC chargers and strike a better balance between cost and charging speed. This makes Level 2 chargers a good pick for restaurants and retail stores where people may stay for a couple of hours. High-speed DC chargers are best for busy corridors and highway rest stops where drivers need to charge and get going quickly.
Connector type
There are also a variety of connectors used for charging different electric vehicles in various locations (Type 1, Type 2, CCS, Tesla Superchargers, etc). When retailers are thinking about connectors for their EV charging station, they should consider the local market and the type of vehicles their customers will likely drive.
EV management platforms foster successful retail charging
An EV management platform works as the brain of the system, connecting various components of charging infrastructure—electric vehicles, charging stations, the grid—while providing a common interface for operators and service providers.
Smart management plays a big role in the success of retail charging. A good software solution is essential for delivering effective sessions from individual chargers. The customer experience must be frictionless, so choosing a platform that enables seamless, cost-effective charging is critical for creating revenue.
Some of the things EV charging and smart energy management platforms can provide for EV retail charging include:
- Self-service tools through mobile EV apps and portals make it easy for EV drivers to find a charging point, register, reserve, charge, and pay. Retailers can promote charging stations through a branded, intuitive interface for more usage and foot traffic. Charging software can easily integrate with retailers’ systems so businesses can even offer specialized loyalty programs and other incentives.
- Billing and payment systems that are part of an overall EV charging management system offer trouble-free and accurate billing for various pricing models (pay-per-kilowatt-hour, pay-per-minute, flat fees, subscriptions, dynamic pricing, etc.).
- Reliable charging keeps customers satisfied by ensuring that every charge point works when they “plug in.” Retailers need a platform that guarantees network availability and stability with around-the-clock remote issue detection and resolution.
- Data and analytics gathered and processed by the EV charging management system allow retailers to leverage their existing approach to business, using reporting and AI-driven insights to continuously improve the EV charging experience and profits.
- Smart energy management is essential in the retail environment, as site managers must balance the energy demand for EV charging with the power requirements of the retail site. Technology offering smart energy management algorithms provides the ability to balance power among charge points and the store. Load balancing and integration with renewables can be used to avoid expensive infrastructure upgrades and minimize peak charging rates.
- Compliance with industry standards like ISO 15118 and OCPP is important for a management system, enabling vehicle-to-grid (V2G) communications and providing a longer-term power solution. For example, both employees’ and customers’ vehicles can be used to send power back to the grid or the retail site during times of peak demand.
Why use the Driivz retail EV charging solution?
Retailers can rely on the Driivz EV charging and energy management platform to achieve operational excellence. Driivz helps retailers operate their EV chargers efficiently while reducing the total cost of ownership and delivering a seamless charging experience to drivers.
Driivz offers an app and web portal that retailers can white label to guide customers through finding, using, and paying for charging. Our comprehensive billing engine allows extremely flexible billing options for a wide variety of subscribers. In addition, 24/7 monitoring and smart energy management help maintain reliable operation while optimizing site resources and enabling additional revenue opportunities.
Market challenges require that retailers continuously reinvent themselves. Offering EV charging services managed by Driivz provides an additional route to differentiation and profit.
Contact our team to learn more.
