How EV charging at retail locations increases revenue & drives a competitive advantage Hybrid EV charger
Retail sites that host EV charging infrastructure can attract a new customer base, increase the amount of time and money consumers spend on site, and benefit from positive corporate branding, customer loyalty, and new advertising opportunities. All this, plus the potential to add new revenue streams from direct sale of charging to customers or advertising revenue from on-charger displays. Read on to learn more about the unique opportunities and business benefits available to retailers with public EV charging infrastructure.
How retail sites can monetize EV charging stations
Benefits of EV charging stations for retail
In today’s competitive retail landscape, businesses must find creative ways to attract customers while also boosting the value of each transaction. Transforming your a retail location into an EV charging destination is one of the simplest ways to do just that. Below are a few examples of how hosting public EV charging stations can benefit retailers, as well as become a new revenue stream all on its own.
Attract valuable new customers
EV drivers are a highly desirable market segment for brands to interact with. They’re innovators and early adopters, have higher disposable incomes, and are generally very receptive to new products and innovations. By hosting charging stations on your retail site, you can boost your brand visibility on platforms that help drivers locate nearby charging stations—putting your location, quite literally, on the map for this covetable demographic. Plus, once these drivers valuable service.
Increase time spent at your location
The growing prominence of electric vehicles in India, coupled with the government assistance and support from real estate developers is nudging even the residential complexes to adopt the EV route and provide the necessary robust infrastructure to the residents. Electronic Vehicle disruption has changed the landscape of the Indian logistics, transportation, and automobile segments. The automobile segment specifically has been one of those few markets that promptly adopted the path of electrification with a vision of a positive climate future.
Enhance your brand reputation
Consumers today prefer to shop at, and employees prefer to work for, environmentally conscious businesses; according to a recent survey, more than 50% of the general population would be more interested in doing business with a company that commits to sustainability efforts. Hosting EV charging stations at your retail site can signal your company’s commitment to sustainability goals and contribute to an environmentally conscious or “green” reputation.
Why Housing Societies Should Invest In EV Charging Stations?
Retail sites that host EV charging infrastructure can attract a new customer base, increase the amount of time and money consumers spend on site, and benefit from positive corporate branding, customer loyalty, and new advertising opportunities. All this, plus the potential to add new revenue streams from direct sale of charging to customers or advertising revenue from on-charger displays. Read on to learn more about the unique opportunities and business benefits available to retailers with public EV charging infrastructure.
How Housing Societies sites can monetize EV charging stations
The rising prominence of EVs in India
The surge in oil prices, as well as subsidies for EVs from the government, is pushing the growth of the EV segment in India. Adding to it, the rising consumer awareness about the benefits of electric vehicles over conventional modes of transportation and their eco-friendly attribute is further boosting the growth of the EV market in our country. This trend was highlighted by JMK Research in its recent report. The study states that India has witnessed a spike in EV sales since the month of May this year. The month of September however saw the highest ever sales clocking 34,316 units!
Housing societies embracing the Electric Vehicles revolution
Due to the growing prominence of electric vehicles in India, it would be appropriate to say that India is betting big on EVs to cut its fuel import bill and promote environmental protection by providing subsidies and incentives to encourage the use of these vehicles. This coupled with the government assistance and support from real estate developers is nudging even the residential complexes to adopt the EV route and provide the necessary robust infrastructure to the residents.
The government’s assistance to boost the EV segment
The efforts started in the year 2019 when The Ministry of Housing and Urban affairs issued a guideline to allocate parking space for EVs in residential and commercial spaces. The Ministry even made it mandatory to set up an EV charging station at every 3 square km area in cities at a pan India level. The recent launch of the Indian Standard for Light Electric Vehicle AC Charge in May this year will expectedly increase the market for low-powered, low-cost charging points that would be easily installable for residential charging. In June,
Challenges faced by the housing societies in adopting EVs
While EV adoption in housing societies is booming, it does face its fair share of challenges. One major hurdle that these communities face is the lack of access to charging infrastructure as the parking slots are part of the common area. Adding to it, even the building premises are required to have an additional power load, which is equivalent to the power required for all charging points to be operated simultaneously. While the problem of each parking slot not having an EV charger is manageable, the actual issue exists at the granular level. Only a handful of residents in every community .
Summing up!
With the EV revolution, Indian societies are witnessing major transformations. The primary reason rather the benefit for a housing society to install EV charging stations during the early days of the EV revolution in India is that doing so is a clear indication of it being a progressive society. This is what will differentiate the residential complex from the others in the market that are still working with a conventional approach. Treading on the EV path depicts that the community not only supports the EV-owning residents in their right choice for protecting the environment but also empowers all other residents who are considering purchasing electric vehicles.
