The retail sector is constantly looking for ways to enhance customer experience and increase customer loyalty. In a world where electric mobility is booming, electric vehicle charging can provide immense benefits to retailers – from new revenue streams to satisfied customers and employees.
BRIGHT FUTURE AHEAD FOR ELECTRIC MOBILITY
The latest regulation proposal of the European Union suggests the end of internal combustion engine car sales by the year 2035. This proposal stems from the EU’s ambition to become the first climate-neutral continent by 2050. To achieve that, extensive actions need to be taken and the switch to electric mobility is one of them.
The year 2020 was already surprisingly momentous for electric vehicles. Despite the general economic downturn following the Covid-19 pandemic and the sales of regular ICE cars slowing down, the sales of electric vehicles rose to record numbers.
However, this is only the beginning. The aforementioned EU proposal together with expert predictions suggests a bright future for electric vehicles. The more governments step up their efforts to reach climate goals, the bigger EV markets can become.
As stated in the Sustainable Development Scenario, 230 million electric vehicles are predicted to be roaming the roads globally in 2030. To put that number into perspective, there were 10 million EVs at the end of 2020.
Source: Global EV Outlook 2021
Do you want to know more about the global electric vehicle market statistics & forecasts? Check out our comprehensive EV Market Overview guide.
WHY SHOULD THE RETAIL SECTOR CARE ABOUT THE EV DISRUPTION?
As the number of electric vehicles on the roads grows, so is the demand for easy and accessible EV charging experiences. This presents a world of opportunities for various industries - for the retail sector as well.
Providing EV charging at your retail site can draw in a whole new clientele to your business - EV drivers.
Currently, the most commonplace to charge an EV is at home or at work. Mostly, because the public EV charging network is not as expanded as needed. Not being able to charge their car is actually a common worry among potential EV owners.
LET YOUR CUSTOMERS CHARGE WHILE THEY SHOP
The possibility to arrive at a retail store and charge their EV while shopping creates a perfect deal for your customers as well as for you. The longer the EV drivers stay while their car battery is filling up, the more they spend at your store. This presents an opportunity to secure an important revenue stream for your business. It truly is a win-win situation.
INCREASE CUSTOMER LOYALTY
One of the main goals for every retailer is to have happy and loyal customers. To achieve great customer loyalty, meeting customer expectations is key. Charging an EV at a retail site is already one of those expectations and it is only growing in importance.
EV charging can also become a great part of customer loyalty programs. Rewarding customers for plugging in and charging their EV can deepen customer relationships and build brand loyalty.
PUT SUSTAINABILITY AT THE FOREFRONT OF YOUR BUSINESS
Electric mobility is an important part of mitigating climate change. The aforementioned ICE cars regulation proposal and many incentives supporting the EV revolution are proof of it. Now, it is becoming clear to more and more consumers as well.
Customers value environmental consciousness and like to do business with those who are not turning their back to the issue. Installing EV charging points at your retail site will help you to establish your business as a sustainability leader, ultimately making you more attractive and leading to more satisfied customers.
HOW CAN EV CHARGING WORK FOR RETAILERS?
Electric vehicle charging has great potential and is offering many long-term benefits to your business. While new revenue streams and increasing customer loyalty will be the most visible benefits for you, your customers will value the easy access to EV charging as well as doing business with an environmentally aware brand.
At Virta, we can help you fast-track the process of launching your smart EV charging business with our easy and cost-effective charging solutions. You can keep your focus on your core business, while we handle all the complexities of running an EV charging business for you.
Learn more about how retailers can benefit from EV charging. Download our comprehensive guide: “How EV charging can elevate the customer experience of your retail business.”