Every time one of Volta’s electric vehicle charging stations goes into the ground, it’s because a site partner recognizes the value they are adding to the business. Site partners include properties such as grocery stores, pharmacies, shopping centers, hospitals, movie theaters, and more.
Electric vehicles have entered a rapid growth stage. There are 1.5 million electric vehicle drivers in the United States today. That number is doubling every year and a half. In fact, the electric vehicle industry is growing 20 times faster than the auto industry as a whole. The numbers show a monumental shift coming to the auto industry, one that will significantly impact consumer behaviors. Potential site partners who recognize this and choose to align themselves with Volta will be positioned to win those consumers as they go electric.
How can site partnerships with Volta tangibly boost sales at their affiliated businesses? According to our data, the answer lies in increased foot traffic. One national retailer recently worked with Volta to install charging stations at six pilot locations across the country. Volta worked with this retailer to develop a revenue estimating pilot, effectively measuring the increased spend from each customer who visited their stores and used a Volta charger.
To measure Volta’s impact, a baseline number of electric vehicle drivers visiting this retailer was determined. It was assumed that any consumers using the charging stations in the first month after installation would have visited the site anyway-- only visits above baseline in future months counted as added value. The numbers were staggering. This national retailer saw their electric vehicle-driving customers increase by 74 percent after stations were installed, as measured by the increase in charging sessions. In fact, in less than two and a half years, the retailer finished 13,527 visits above baseline expectations.
At an average of $50 per visit, that means Volta stations led to an additional $676,350 in sales. That breaks down to 44 more visits each month, or $2,214 in revenue, per parking space.
Of course, Volta’s commitment to covering installation and maintenance fees is another upside to hosting a station. Since Volta sells advertising on all stations, we have a vested interest in installing and maintaining them at the highest level of service. As a result, Volta is able to contribute to capital expenditures, hardware, rent and insurance, among others. These factors brought the total value of the partnership between Volta and the national retailer mentioned above to over $1.2 million.
There are other benefits to Volta site partners, of course. Electric vehicles are an important part of building a sustainable future for our communities and for the world at large. Volta recognizes how important this is, as do sites that choose to host our stations. And site partners can support their community in other ways, including the Volta Response System, through which local governments use our stations to disseminate critical information to hard-to-reach and vulnerable community members. These factors, along with the data referenced above, are why we at Volta believe in our mission to build a better, more sustainable future.