EVgo Charging Stations Drive New Revenue Opportunities for Retailers

EVgo Charging Stations Drive New Revenue Opportunities for Retailers

By Michael Harrison

December 8, 2024 at 10:32 PM

EVgo charging stations provide retailers with significant business opportunities through increased foot traffic and customer spending. Here's why retailers should consider hosting EVgo stations:

People Shop While They Charge

  • 80% of EVgo users are "regular shoppers" at locations with charging stations
  • Over 60% shop during their charging sessions
  • Charging sessions last 15-45 minutes, providing ample shopping time

Woman charging BMW at EV station

Woman charging BMW at EV station

Charging Stations Influence Shopping Decisions

  • 80% of shoppers choose retail locations based on charging availability
  • 75% have flexibility in where they shop
  • EVgo stations support all EV models, including Tesla via integrated connectors
  • Stations appear prominently on Google Maps, PlugShare, and Tesla navigation

Tesla dashboard navigation display

Tesla dashboard navigation display

EVgo Customers Are Valuable Shoppers

  • Average spending: $37.94 for retail, $42.22 for grocery per session
  • Over 70% of EV buyers are college-educated with $100,000+ income
  • Majority are Millennials and Gen Z
  • Spend more than $1 per minute while charging

Man unloads Tesla near charging station

Man unloads Tesla near charging station

Revenue Potential

  • Estimated $120,000 annual incremental revenue per charging station
  • Calculation based on:
    • 5,872 average annual charging sessions
    • 48% conversion to shopping visits
    • $42.22 average spend per visit
  • No installation cost for retailers

EVgo Advantage™ Program

  • Sends exclusive coupons via text to charging customers
  • Increases average basket size by 60% (from $42 to $70+)
  • Drives higher conversion from charger to store

Phone displaying digital store coupon

Phone displaying digital store coupon

Strategic Timing

  • EV market expected to grow 4-5x by 2025
  • Early adoption advantage over competitors
  • Complete charging solution with ongoing support

Tesla parked in snowy parking lot

Tesla parked in snowy parking lot

Contact EVgo to learn more about becoming a charging station host and capturing this growing market opportunity.

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