Consumer expectations are quickly shifting across most industries, and parking is no exception. Customers demand more from the brands they interact with, including higher-quality service, greater convenience, and personalized experiences. These evolving preferences are reshaping how parking owners need to approach their operations and should be used to inform technology buying decisions.

Here are four major consumer trends shaping parking management this year and how operators can capitalize on them.

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Frustration with Low-Quality Service 

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The cost-cutting measures organizations have enacted in the last few years are starting to show. Even as businesses understand and acknowledge that customer experiences are essential in sustaining a profitable business, service decline resulting from those cuts has customers less than excited.

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That's not going to cut it. According to a recent Accenture report, 47% of customers feel less valued when they encounter poor customer service, such as difficulty reaching support or dealing with unhelpful agents. This frustration isn't just limited to retail or hospitality—it extends to all areas of their lives.

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As consumers grow tired of brands that cut corners on service (Accenture defines this as “skimpflation”), parking owners need to pay attention. Bad experiences or services drive customers away—fast. PwC found that 32% of all customers would stop doing business with a brand they loved after one bad experience.

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The inconvenience of confusing payment systems, long wait times at entry and exit gates, or outdated equipment creates the perfect environment for poor experiences. In an industry where forward-thinking businesses emphasize ease and efficiency, parking owners who fail to deliver a seamless experience are likely to fall behind. 

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Demand for Convenient, Seamless Digital Experiences

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The flip side of frustration over bad experiences is the desire for better ones. Consumers expect convenience in every aspect of their lives, from online shopping to in-person experiences. 

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"For 80% of consumers, speed, convenience, knowledgeable help, and friendly service are the most important elements of a positive customer experience, and 73% say customer experience is an important factor in their purchasing decisions" — PwC Global Consumer Insights Survey.  This expectation for seamless, intuitive digital experiences extends to services such as parking. 

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There are proven ways for parking owners and operators to respond — including adopting technology that reduces frustration and enhances convenience. Mobile apps that let drivers pay without fumbling for cash or cards are a good starting point. In addition, license plate recognition (LPR) automates entry and exit, cutting down on wait times while also removing the need for paper tickets.

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Ultimately, these tools improve the customer experience and increase efficiency and NOI for parking owners, giving them a competitive edge.

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Shift Toward Personalization and Customization

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According to Salesforce’s State of the Connected Customer report, 66% of customers expect companies to understand their unique preferences and expectations. From personalized product recommendations online to custom-tailored marketing or sales offers, customers increasingly value individualized interactions.

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Parking owners with the right information can deliver higher levels of personalization. To start, leverage data analytics and smart technology to offer more personalized experiences for drivers. For example, when you understand the drivers in your facility, you can send highly targeted promotions or discounts based on their parking habits—as opposed to a one-size-fits-all deal for everyone. Promotions might include reduced rates for off-peak parking times, promotions at local retailers, or exclusive deals for loyal users. 

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Adoption of Electric Vehicles

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By 2030, approximately 17% of cars on the road will be electric. As drivers move to more eco-friendly cars, parking owners and operators are anticipating how electric vehicles are transforming parking. One of the most significant changes brought on by electric vehicles (EVs) is the demand for charging infrastructure. Installing EV charging stations is no longer just a nice-to-have amenity—it’s becoming a critical component of future-proofing parking facilities.

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EV drivers are more selective about where they park, prioritizing locations with charging capabilities. In fact, EV adoption is transforming customer behavior: drivers now research parking facilities in advance, searching for those that provide convenient charging options. For parking operators, this shift presents an opportunity to attract high-value customers, particularly in urban areas where EV ownership is rapidly increasing. 

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Offering charging stations in parking facilities can boost revenue and improve occupancy rates. In addition, operators with the right technology can leverage data to monitor usage patterns and adjust for demand fluctuations. By integrating data-driven decision-making, operators can ensure they meet the needs of EV drivers while optimizing space and pricing strategies.

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How to Turn Trends into Parking Profit

Investing in smart parking management technology allows owners to enhance customer satisfaction and streamline operations to boost NOI. 

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Ready to elevate your parking management? Schedule a demo with Vend today and discover how our solutions can help you meet and exceed customer expectations with frictionless, automated experiences that reduce wait times, ensure easy payment, and provide real-time customer support.

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