A Message from Richard Carrano, Purchasing Power’s President & CEO

December is such a busy month for everyone on both a personal and business level. Everyone is gearing up for the holidays – purchasing gifts for friends and family; planning holiday parties; attending holiday get-togethers and office parties; and looking forward to time off to enjoy with loved ones.

On a business level, we’re wrapping up another year. It’s time when we look back to see what’s been accomplished for the year. For Purchasing Power, I’m happy to report it’s been yet another remarkable year. And it’s you, our brokers, who help make this happen.

In 2014 we launched 16 new accounts. And, as of the beginning of this month, just shy of half a million (497,000) new eligibles have been added this year.

The number of orders in 2014 has increased 22 percent over 2013. That’s more than double the increase in the number of orders for 2013 over 2012 (which was 9.4 percent). More orders mean that more employees and members have acquired products and services on a disciplined budgeting plan through our purchase program. And more orders mean you’ve earned more recurring revenue!

Looking back over the year, it’s interesting to review what the top 10 product categories have been:

  1. Laptops
  2. Televisions
  3. Tablets
  4. Gaming
  5. Telephones
  6. Desktops
  7. Living Room/Den Furniture
  8. Mattresses
  9. Handbags
  10. Washers & Dryers

It’s also interesting to note the new product categories that we added this year – jewelry and watches; luggage and handbags; musical instruments; personal care and beauty; sports memorabilia; sunglasses and accessories; and pet products.

Without a doubt, 2014 was another winning year for Purchasing Power which reflects our continued focus on service and meeting customer needs by providing a voluntary benefit solution that improves financial wellness for customers. As the industry leader, we are fiercely committed to the benefits industry, and to continuously earning and keeping the trust of our brokers and everyone else we serve.

So as we wrap up the year, I want to make a special point to wish you and your family Happy Holidays. Thank you for being part of our team.

Richard Carrano, President & CEO

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