Businesses can plug into new revenues with EV charging

Believ sets out case for offering chargepoints in retail, leisure and hospitality settings

Installing public EV charging infrastructure can help businesses in the retail, hospitality, and leisure sectors drive new revenue streams, increase customer loyalty, and ensure a more sustainable future. This is the message in a new report from chargepoint operator Believ. 

The report, Charging Ahead: Powering up EV Charging in Retail, Hospitality and Leisure, states that around two out of three (63%) firms in those sectors are currently installing EV charge points, meaning that 37% are still missing out. Over a third are, therefore, yet to seize the opportunity of attracting more visitors to stay longer and spend more money by becoming a charging destination. 

Some 66% of EV drivers prefer to shop where charging is available. By installing public chargepoints, business owners can generate new revenues not only directly by attracting new EV driving customers but also indirectly from the increased customer dwell time.

Retail, hospitality, and leisure businesses are well-positioned to benefit from additional revenue streams, as they are often more susceptible to seasonal fluctuations.

While footfall typically declines during the winter months, installing EV charging infrastructure can help mitigate this dip by encouraging year-round visits, increasing customer dwell time, and boosting in-store spending — prompting drivers to visit, shop, and eat even during colder periods. Sites with EV charging facilities typically find EV drivers stay on site around 50% longer, and customer spend more than double, from an average of £36 to £80 per visit. 

Consumers are also increasingly choosing environmentally conscious businesses from which to buy. More than three quarters (77%) of owners have expressed a commitment to improving their own sustainability to meet changing buyer behaviours. 

Installing EV charging infrastructure visibly demonstrates their commitment to environmental, social and governance (ESG) objectives, making them more attractive to consumers. 

Whether businesses are aware of the financial benefits of having EV charging or not, over a third (37%) are not installing charge points. Believ found many are concerned about overcoming certain barriers such as the upfront investment and insufficient power supply needed to installing EV charging infrastructure. 

Believ’s chief executive, Guy Bartlett, said: “It is a complex process to install the right EV charging infrastructure for each location, but help and advice are out there for business owners of all sizes.

“There are fully funded, zero-cost solutions that include strategic planning, installation, operation and ongoing maintenance. Each business is different, so getting advice on how to match their customer habits, whether they stop briefly or stay for longer periods, with the right mix of slow to ultra-rapid chargepoints is essential to optimise the return on investment and minimise the financial risk.”