How Shopping Malls Profit from EV Charging Business Models

As electric vehicles (EVs) continue to gain traction worldwide, shopping malls are uniquely positioned to capitalize on this trend. With consumers spending an average of 30 to 90 minutes per visit, installing EV chargers provides malls with an opportunity to attract more customers, extend dwell time, and generate additional revenue. This guide highlights the most effective EV charging business models for shopping malls and strategies to maximize ROI.

Why EV Charging is a Smart Investment for Shopping Malls

1. Increases Customer Dwell Time and Sales

EV owners are more likely to spend time in a mall while their car charges. According to a BloombergNEF 2023 report, shopping centers that install EV charging stations experience an average 20% increase in customer dwell time and a 12% rise in retail sales. Additionally, NREL reports that commercial properties with EV chargers see a 5-10% boost in foot traffic compared to those without.

2. Enhances Brand Image and Attracts High-Value Customers

Offering EV charging stations aligns with global sustainability trends, attracting eco-conscious shoppers who are likely to have higher disposable incomes. Malls with charging infrastructure position themselves as forward-thinking, green-friendly destinations.

3. Leverages Government Incentives and Subsidies

Many governments worldwide offer tax credits, grants, and incentives for businesses that install EV chargers. For example, the U.S. Department of Energy provides a 30% tax credit for commercial EV infrastructure under the Alternative Fuel Infrastructure Tax Credit, while the EU Green Energy Initiative funds up to 50% of charging station installation costs.

Key EV Charging Business Models for Shopping Malls

A. Free Charging as a Customer Perk

• How it works: The mall offers free EV charging to attract and retain customers.
• Profit mechanism: Increased customer visits and extended dwell time lead to higher in-store spending.
• Best for: High-end malls, luxury shopping centers, and membership-based retail outlets.
• Case Study: Costco in the U.S. offers EV charging at select locations, with some providing free charging to members.
• Why It Matters: This approach enhances brand loyalty and attracts high-spending eco-conscious customers.

B. Pay-Per-Use Charging Model

• How it works: Customers pay a fee per kWh or per charging session.
• Profit mechanism: Direct revenue generation from charging fees.
• Best for: Large commercial centers, city-based malls, and retail parks with high EV adoption rates.
• Case Study: Westfield Malls in Australia charge a per-use fee, providing a steady revenue stream from EV drivers.
• Why It Matters: Ensures a direct revenue stream, making it ideal for high-traffic shopping malls.

C. Subscription-Based EV Charging

• How it works: Malls offer EV charging as part of a subscription plan or loyalty program.
• Profit mechanism: Recurring revenue from monthly or annual subscriptions.
• Best for: Shopping centers with frequent visitors and corporate offices nearby.
• Case Study: Some EV charging networks in the UK, such as Fastned and bp pulse, offer subscription-based charging plans.

D. Advertising & Partnership Model

• How it works: The mall partners with EV brands, car manufacturers, or advertisers to monetize charging stations.
• Profit mechanism: Revenue is generated through brand sponsorships, advertising displays on chargers, and exclusive EV promotions.
• Best for: Malls with heavy foot traffic and high visibility.
• Case Study: A shopping mall in Germany partnered with Tesla to provide Tesla Destination Charging, attracting a loyal customer base of Tesla owners.
• Why It Matters: Leverages brand partnerships to create additional revenue while increasing visibility for advertisers.

Maximizing ROI: Best Practices for Shopping Mall EV Charging

ROI Comparison of EV Charging Business Models

1. Strategic Location Selection

Placing EV chargers near entrances, food courts, or entertainment zones increases visibility and encourages foot traffic to premium stores.

2. Balancing Fast and Slow Charging

• Level 2 chargers (7-22 kW) are ideal for standard shopping trips.
• DC fast chargers (50-150 kW) attract short-stay visitors who need a quick charge.

3. Implementing a Smart Pricing Strategy

• Peak pricing: Charge higher rates during busy hours.
• Loyalty discounts: Offer discounted rates for frequent shoppers.

4. Leveraging Smart Charging Technology

Using an app-based reservation system allows customers to book charging slots in advance, optimizing charger utilization and reducing wait times.

Case Studies: Shopping Malls Successfully Monetizing EV Charging

North America: Increased Customer Retention

Studies suggest that installing EV charging stations can increase customer dwell time, leading to higher store revenues. For example, according to NYSERDA, commercial property owners have observed increased customer satisfaction and engagement after implementing EV charging infrastructure.

Europe: Revenue Generation Through Paid Charging

A commercial center in France implemented a tiered EV charging system, following successful models like Volta Charging in Paris, where digital advertising and EV charging integration have enhanced revenue streams and customer engagement.

Asia: Government Incentives Lower Installation Costs

A luxury mall in Singapore benefited from government incentives such as the EV Common Charger Grant, which provides up to 50% of installation cost coverage, helping commercial properties reduce upfront expenses and accelerate ROI.

Conclusion: The Future of EV Charging in Shopping Malls

EV charging stations are no longer just an amenity—they’re a profitable business model for shopping malls. Implementing the right EV charging strategies can enhance foot traffic, create new revenue streams, and position shopping malls as future-ready destinations.

Interested in increasing revenue with EV charging? Contact our team today to explore customized EV charging business models for your shopping mall. Get a free consultation on installation, incentives, and ROI strategies!