American Retailers See 5% Boost In Consumer Spending From EV Chargers
Retailers’ long-running experiment with electric vehicle charging stations is finally generating serious voltage. A study examining nearly 1.6K Tesla Supercharger locations across 800+ US counties found that EV charging stations aren’t just attracting environmentally conscious shoppers — they’re driving real revenue. Retailers within 200 meters of the charging stations have seen a 4% boost in monthly visits and a 5% increase in consumer spending since installation.
- This comes as EV adoption rises, with sales reaching 1.4M units in 2023, representing over 9% of all US car sales.
- Walmart is betting big by planning thousands of charging stations by 2030 with an investment of $1M to $1.5M per location.
Power play: The charging station renaissance isn’t without its challenges. Installation costs for fast chargers can reach $175K, and the process can stretch up to 18 months. But retailers are undeterred. Even Costco, which previously exited the market in 2011, has rejoined, while 7-Eleven and RaceTrac are constructing their own networks to tap into charging revenue. With projections showing over 1M public chargers needed by 2030, retailers are positioning themselves to capitalize on this electrifying opportunity.
