December 16, 2024
The Seattle Medium recently published an article featuring Gordon Burtch, Allen and Kelli Professor in Information Systems, discussing how the growing number of EV chargers nationwide is proving beneficial for businesses.
In 2021, Racetrac, a convenience store chain, began evaluating EV charger installations, factoring in adoption rates, utility costs, and construction expenses. By 2023, the company had installed its first Level 3 charger. Research shows that these chargers can boost foot traffic, with retailers like Walmart, Kohl’s, and Starbucks leveraging them to attract customers. Racetrac has also seen a sales boost as customers spend time shopping while their cars charge, with customer experience playing a key role in retention. However, challenges persist, including high setup costs and fluctuating utility pricing.
“The places that tend to get the biggest bump, is the place that aligns with how long it takes you to charge your car. Sit-down restaurants aren’t benefiting as much as fast-food restaurants,” Burtch adds.
Racetrac’s thoughtful approach to EV charger installations demonstrates the growing business potential of supporting electric vehicle infrastructure, despite the challenges of costs and pricing complexities.
