New research: Supermarkets and retail parks unprepared for rapidly growing EV market
Our new research has revealed that many retail businesses in the UK don’t yet have enough electric vehicle (EV) charging facilities to capitalise on opportunities to increase revenue.
Read on for the latest findings and guides for retail businesses looking to get fully charged.
The study, which looked at supermarkets, retail parks and DIY stores, found that many businesses are yet to install any EV charge points for their customers. Those that have offer an average of just three chargers. This is despite battery electric vehicles (BEVs) accounting for more than one in 10 of all new vehicle registrations in July.
By 2030, forecasts by the National Grid Future Energy Scenarios suggest that EVs will account for one third of all road vehicles, underscoring the urgency for businesses to offer more charging for their customers.
Retail parks were found to be the furthest along when it came to EV charge point installation, with an average of five charge points.
However, the study highlighted the growing disparity between new developments and those that are long-established. Where new investments are being made, sites are being future-proofed with a significant number of charge points. Edinburgh’s St James’ Quarter has capacity for 45 EVs to charge simultaneously, while Oxford’s Westgate offers 28 EV charge points. Both shopping centres have undergone a significant revamp within the last five years.
Supermarkets and DIY stores currently offer fewer EV charge points for customers, with an average of only two charge points across the country.
“If retail businesses want to keep pace with the rapidly growing EV market, it’s vital they invest now to build a reputation for offering good EV charging facilities,” commented Adam Hall, Director of Energy Services at Drax.
“We recommend one EV charge point for every 10 parking spaces, with that ratio increasing to one in five over the next five years”
“It’ll quickly give these businesses a competitive advantage, attracting potential new customers and better serving their existing ones when they eventually make the switch. Retail venues provide the perfect location for EV drivers to top up when they’re not at home, as they already have a purpose and incentive for visiting.
“As well as the customer benefits, EV charging also presents businesses with an opportunity to encourage customers to spend more during their visit, as drivers are likely to spend longer there to get more charge. This could be the difference between them grabbing an extra coffee and making an additional purchase decision. When combined with any profits made for charging, it’s easy to see the return on investment.”
The average time it takes for an EV to charge is normally between 30 minutes and 12 hours, depending on the type of charger. Most supermarkets and DIY stores install rapid chargers as these allow for a good amount of charge in 30 minutes to an hour.
To help retail businesses find an EV charging solution that works for them, we’ve created a series of help guides for the following industry sectors:
For further information on installing EV charging and other electric vehicle services for businesses, get in touch.
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