C-Store Profits Grow In An EV Future

The price of gas has risen significantly during the past few years, and there is much concern related to vehicle emissions and climate change. As a result, some people are concerned that gas stations are in trouble, particularly since many people are switching to electric cars. Despite the transition, convenience stores can still profit from food and drink sales even in a future where electric vehicles could dominate. What might this future look like?

From Fossil Fuels to Electrification

Fossil fuels have been one of the most critical energy resources for the past 100 years, and they will continue to play a role in the future, even if that role is significantly reduced. With gas prices increasing drastically, state laws changing, and interest in hybrids and electric vehicles surging, it is evident that the switch to electric vehicles is coming if it is not already here.

According to statistics published recently, electric vehicle sales are rising quickly. From the first quarter of 2021 to the first quarter of 2022, the sale of electric vehicles increased by more than 66 percent, thanks in part to more automobile manufacturers than ever producing electric vehicles. With more electric vehicle options coming in the next few years and the price of gas most likely not dropping to previous levels, more people will be lured away from gas vehicles to EVs and plug-in hybrids. 

The Role of C-Stores in Energy Transition

While some gas station owners are concerned that electric vehicles will put gas stations out of business, that is not necessarily the case. People still need a place to charge their vehicles, mainly when they are out and about. Some vehicles can reach 80 percent capacity in just a half-hour, so people might still be inclined to stop to charge their cars at a charging station, just as they would stop at a gas station. The difference is that it takes people significantly longer to charge an electric vehicle when compared to filling up the gas tank.

That is where the opportunity for c-stores is located. Consumers are very familiar with gas stations and convenience stores, so they will still play a role in a world with EVs. It takes significantly longer to charge an EV when compared to filling up a gas tank, so there is an opportunity here for store owners to continue to generate revenue. C-store owners must consider making their businesses more attractive to EV owners when they stop to fill up their cars. 

Expanding Cold Food & Drink Offerings With Polarcraft by RDT

One of the best ways to prepare for the transition is to preserve the quality of cold food and drink offerings with the latest refrigeration equipment. Foodservice sales have reflected that more people are interested in convenience stores that sell restaurant-quality food next to a wide variety of beverages.

Statistics published during the pandemic show that people were more interested in prepackaged food and beverage sales at convenience stores, mainly because people believe them safer than watching someone prepare hot food behind the counter. Therefore, convenience store owners should expect this trend to dominate over the next few years. And with access to advanced, versatile, and high-quality refrigeration equipment, convenience store owners can provide drivers will be able to offer a variety of food and drink options, positioning themselves to stay one step ahead of the competition.

Interested in learning more about how Polarcraft can help your convenience store's profits? Click below to learn more.