Purchasing Power, one of the fastest-growing voluntary benefit companies in the industry offering a leading employee purchase program through an eCommerce platform, is ranked #124 in the Internet Retailer 2015 Top 500 Guide released in April.
Internet Retailer’s Top 500 Guide is an annual ranking of America’s 500 largest online retailers, based on sales and performance. According to Internet Retailer, ecommerce continues to climb rapidly. While total retail sales in the U.S. grew 3.5% to $3.15 trillion in 2014, the growth rate in total online retail sales was 15.4%, reaching $305 billion, now representing approximately 10% of all retail sales.
“This is a new milestone achievement for Purchasing Power,” said Richard Carrano, Purchasing Power President and CEO. “Offered as a voluntary benefit to employees, our employee purchase program is, nevertheless, an eCommerce product that engages the customer through an ever-expanding catalog of goods and services, all focused on a singular mission…Powering People to a Better Life,” he added.
Just ahead of Purchasing Power in the list were TJX (TJ Maxx, Marshalls, HomeGoods) at #120, Under Armour at #121 and Belk at #123, all of which are much larger than Purchasing Power, given their other channels of business. “We’re in good company,” Carrano concluded.