Purchasing Power Cited Among Georgia's Top Three Internet Retailers
Wednesday, May 30th, 2018
Purchasing Power, the leading e-commerce voluntary benefit company offering an employee purchase program through the convenience of payroll deduction, has been named to Internet Retailer's 2018 U.S. Top 500 E-Retailers, ranking #111 among America's online retailers. With 2017 revenues exceeding $425 million, Atlanta-based Purchasing Power, LLC also landed among Georgia's top three internet retailers, trailing only The Home Depot, Inc. (#7 among U.S. Top 500 E-Retailers) and Carter's, Inc. (#103).
Internet Retailer's 2018 U.S. Top 500 is an annual ranking profile of the 500 largest merchants that dominate online retailing in America. Ranked based on their 2017 web sales, these e-retailers account for 72 percent of U.S. online retail sales. Collectively, they sold more than $320 billion online in the U.S. last year and grew 18.1 percent, outpacing the overall 16 percent growth rate of America's e-retailing industry, which charted $454 billion overall.
"Being named once again to the 2018 U.S. Top 500 is a continued testament to the hard work and effort of all Purchasing Power teams across the organization," said Richard Carrano, Purchasing Power CEO. "We are very proud of being ranked in the top 11 percent of U.S. internet companies, and for surpassing companies like Pier 1 Imports, Inc. (#112), CVS Caremark Corp. (#114) and Keurig Green Mountain Inc. (#115) with our growth."
Purchasing Power works directly through employers and associations to offer employees and members the opportunity to purchase the latest brand-name consumer products, online education services and vacation packages through payroll deduction, when they cannot or prefer not to use cash or credit. Participants make manageable, fixed payments over a pre-set term, with no ballooning interest, hidden fees, or late fees.
Most web merchants included in the 2018 report have a different ranking from last year, and more than 50 e-retailers were not on the list last year. Charting 13.8 percent revenue growth this year over 2016, and 20.5 percent EBITDA improvement compared to 20162, Purchasing Power has remained consistently strong among U.S. e-retailers, ranking #107 in 2017 and #110 in 2016.