Daily Parking Up, Monthly Parking Flat
August 25, 2020
Parking Advisors’ digital platform data indicates that employees are choosing daily parking over monthly parking
Chicago, August 25, 2020 – As employees return to work at businesses throughout downtown Chicago, data indicates that they are adjusting the way they purchase parking. ParkChirp, a parking app that offers parkers the lowest prices compared to other parking apps, has partnered with Parking Advisors, Inc., the industry’s leading parking consulting firm, to analyze parking purchase data.
The data reveals significant increases in daily parking purchase counts compared to monthly parking account purchases. Chicago parking sales and facility occupancy levels have improved since Chicago moved to Phase IV. However, despite week-over-week daily parking sales increases of 6% to 22%, monthly parking sales have remained flat and, in some instances, have declined. Prior to COVID-19, most employees purchased their parking on a monthly basis. Monthly parking has historically offered the lowest average daily cost for employees working a traditional Monday through Friday schedule.
“Employees’ schedules have clearly changed. Many workers only come to the office a few days a week, or in some cases they come downtown every other week. Purchasing daily parking using ParkChirp’s app allows employees to save money on daily parking while not being locked into a monthly agreement,” said Erik Eloe, Vice President at Parking Advisors.
ParkChirp has benefitted from another trend. Due to COVID-19 concerns, many parkers seek a touchless parking experience. Using ParkChirp’s app, parkers seamlessly scan a barcode to enter and exit the parking facility.
ParkChirp also offers the lowest rates of any online app. ParkChirp charges parking garages a low, fixed fee that saves parking facilities up to 85% compared to other online platforms. The savings are passed along to the parker by the garage. In addition, ParkChirp does not charge a “service fee” to the consumer.
ParkChirp’s simplified approach and low cost market position has led to aggressive national growth in 2020. The company has developed unique partnerships with operators across markets including Parkwell in Denver and Atlantic Services Group in Washington, D.C..
ParkChirp is a rapidly growing online sales platform that provides parkers with the lowest prices and no service fees. ParkChirp partners with parking owners and operators nationwide to offer a seamless, touchless parking experience. This platform has recently expanded its operations into Denver and Washington, D.C. Parkers can reserve parking on ParkChirp’s iOS and Android apps as well as at parkchirp.com. To contact the company, email [email protected].
About Parking Advisors
Parking Advisors is a national parking consulting firm that provides investment and asset management services to the nation’s leading real estate owners. Parking Advisors’ core objective is to maximize the value of its clients’ parking assets. Based in Chicago, the firm asset manages over $2.5 billion of parking assets on behalf of its clients. Learn more about Parking Advisors by visiting parkingadv.com.