Major retailers are embracing the installation of EV charging stations to boost sales, according to The New York Times. New studies reveal a 4% increase in monthly visits for retailers within 200 meters of chargers after installation.
The move has implications for making electric vehicles more affordable and reducing the pollution from gas-powered cars. In the time it takes to grocery shop, EV owners can charge their cars, benefiting themselves, retailers, and the environment.
“Companies are beginning to see charging as something that can potentially help the bottom line,” director at S&P Global Mobility Graham Evans told The New York Times. “It’s going to become more ubiquitous than a token gesture.”
Instead of relying on providers that lease a part of these retailers’ parking lots to install and maintain EV stations, retailers such as Walmart are building their own brand of stations to take advantage of the profit chargers provide.
For decades, installing EV chargers did not financially pay off for retailers. Now, it’s making a difference with a 5% increase in spending after installation, The New York Times reports.
Retailers’ shift comes at a time when 1.4 million plug-in electric vehicles were sold in the United States, making up more than 9% of all car sales in 2023. These numbers indicate that the popularity of electric vehicles is on the rise. The implications of this shift go beyond boosting retailers’ sales, as it also mitigates pollution from cars.
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Studies have shown the benefits of electric cars for the environment. One electric car on the roads for one year saves an average of 1.5 million grams of CO2, according to a study discussed in Blue And Green Tomorrow. That’s the equivalent of four return flights from London to Barcelona.
Along with reducing your environmental impact, switching to an EV can also save you money. Since you won’t have to rely on gas for an electric vehicle, you can save about $1,000 each year, per the Motley Fool.
“Easy access to on-the-go charging is a game-changer for drivers who have been hesitant to purchase an EV for concerns they won’t be able to find a charger in a clean, bright, and safe location when needed,” wrote Walmart’s Senior Vice President of Energy Transformation Vishal Kapadia in a press release announcing expansion of the company’s charger installations.
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