Purchasing Power® Cited Among Georgia's Top Three Internet Retailers

Atlanta-Based Company Also Named to Internet Retailer's Largest 500 U.S. E-Retailers

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May 29, 2018, 09:18 ET

ATLANTA, May 29, 2018 /PRNewswire/ -- 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-Retailers¹, ranking #111 among America's online retailers. With 2017 revenues exceeding $425 million², 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 2016², 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.

About Purchasing Power, LLC
Purchasing Power, LLC, is one of the fastest-growing voluntary benefit companies in the industry, offering a leading employee purchase program for consumer products and services as well as providing financial tools and resources to improve employee financial wellness. Headquartered in Atlanta, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. Purchasing Power is a Flexpoint Ford, LLC company. For more information, visit www.corp.PurchasingPower.com.

¹2018 Internet Retailer Top 500 Guide, 15^th Edition, May 2018.
²Yahoo! Finance, March 27, 2018. https://finance.yahoo.com/news/purchasing-power-achieves-double-digit-140000012.html

Media Contact:
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SOURCE Purchasing Power, LLC