Restaurant owners, retailers, and owners of massive shopping malls are constantly seeking ways to improve footfalls and raise revenue. The rise in electric vehicles and promising growth in the future can help retailers find a new source of income. We discuss how EV Charging can be significant to retailers, restaurant owners, and shopping complexes. EV charging in India is presently scattered with a limited install base. The low penetration of charging infrastructure is also a significant factor in EV adoption in India. The current low penetration of charging infrastructure extends a unique opportunity to retail stores and eateries to differentiate themselves by installing charging stations in their premises. Such a move can be a game-changer for restaurants and retailers by building a unique brand identity and attracting a new set of customers. Prominent retail locations are four categories: i) Supermarkets and retail stores; Shopping complexes ii)Restaurants, resto-bars, buffets, and pubs iii) Drive-ins, cafes, and eateries iv) Gaming zones, and massive shopping centers. Each of these can deliver mutually beneficial services to EV drivers.
Supermarkets, retail stores, and shopping locations:
Most supermarkets and retail stores have loyal customers. The inclusion of EV charging services can increase these frequent visitors in number. Offering to charge their vehicle while they shop around makes it quite convenient and comfortable for the drivers. The new service helps drivers get along with their purchases while their vehicle gets charged. It saves time for the customers, thus increasing their affinity towards a store that offers EV charging compared to one that does not. The increase is a huge possibility, especially in towns and cities.
Restaurants, Restro-bars, Buffets and Pubs:
Entertainment zones, especially restaurants and buffets, are often crowded, and attracting EV drivers would introduce a new set of visitors. On the one hand, it would bring in new and loyal customers while on the other hand, it expands the place’s services. Visitors can have their food and get entertained while their vehicles get charged. The new service saves time for the drivers and ensures frequent visits to such locations. Restaurants located on highways can benefit by providing charging infrastructure to attract customers driving electric vehicles on roads.
Drive-ins, cafes and eateries:
In some situations, a small amount of charge would be necessary. The range anxiety EV drivers face often forces them to charge to a greater extent than necessary. In such situations, small drive-ins and eateries can provide charging services while the visitors enjoy a snack. The time spent would comparatively be less, and the drivers can also have a good time. On highways and expressways, the presence of regular charging stations is rare. Cafes, eateries and drive-ins along the journey give the drivers a break while recharging. The new charging location reduces the number of stops along the journey.
Gaming zones and shopping centers:
Entertainment zones and massive shopping centers are often bustling with visitors. The time spent is considerably high, giving enough for the visitors to charge the vehicles in the meantime. Shopping centers also provide the advantage of rush hours and festive seasons. The number of people during this time is significantly high. Providing visitors, who are EV drivers, an opportunity to charge their vehicles while they have fun or shop makes it quite comfortable. The additional service gives these shopping centers and gaming zones an advantage over other similar areas.
The benefits of EV charging in retail for the customer
EV drivers often face difficulty in finding suitable charging stations. Despite finding one, the waiting time is high. When combined with retail stores, restaurants, or gaming zones, the customers have another activity while the vehicle gets charged. On the one hand, this saves the drivers time spent singly on recharging their vehicle. On the other hand, it brings forth new revenue and loyal customers to the store or restaurants. Certain areas, such as cafes and drive-ins, make for a short and comfortable break during the charging process. Retail locations can help make the EV charging experience comfortable and hassle-free. The retail locations can also provide cards of their own to customers to make the billing process easy. Often, retailers have strongly driven customer experience analytics. Implementing these in EV charging locations can help enhance customer experience better.
Entering the EV charging zones and business impacts
Retailers often have the benefit of real estate. Establishing proper power connectivity and management while ensuring maintenance makes the EV charging effortless. The step ensures a decent inflow of environmentally conscious customers, adhering to a ‘green’ brand. It also provides a space for advertising other services the location can offer. Having a robust EV charging management platform can help in providing hassle-free and satisfactory experiences to visitors. The retail locations can also integrate charging fees in their billing and payment system to ease the process. The retailers should address the drivers’ concerns from time to time without causing disruptions in their regular activities. They can also introduce e-services for customers during rush hours for reserving a slot for charging. Introducing efficient payments, preferably by mobile applications or cards, also makes the process easy, attracting customers. Stores can also launch offers and discounts for first-time drivers using their charging facility. Giving coupons and redeemable gifts hampers from time to time ensuring customer loyalty.
While the introduction of EV charging facilities brings new customers, it also increases the burden on retail stores. They need to ensure the smooth functioning of both the retail store and the charging facility. Introducing newer charging options like different types of power sources, plugs, and types of chargers in the future will be beneficial. Efficient management of the facilities creates loyal customers too. Load management, introducing renewable energy and availing smart-energy management algorithms helps in balancing the power effectively. Businesses seek to reinvent constantly. Offering EV charging facilities helps move forward in the new development while also bringing profits.
Summary
Retail stores, restaurants and shopping complexes are exploring new ways to increase revenue. Introducing the facility of EV charging in these locations while the EV drivers shop or entertain themselves attracts new customers while creating loyal visitors. Installing new electric vehicle charging stations also helps reduce range anxiety for EV drivers, especially on highways and expressways. It also benefits small cafes and eateries by attracting new customers. Customers can relax while the vehicle gets recharged. Retailers can also imbibe their well-built customer experience analytics in making the charging experience customized and efficient. Apart from investment in power source and charging facilities, the retail locations also need to create a hassle-free and comfortable billing process. They can also include unique cards, coupons, discounts, etc., making the process better and ensuring loyal customers. While the process brings in new customers attracted to the facilities, the burden on retail stores also increases. They need to create a system that can handle both the retail functions and EV charging with the same efficiency.
