U.S. Employees Set Record for Financially-Responsible Holiday Purchases through Purchasing Power®
January 11, 2017 --
ATLANTA, Jan. 11, 2017 /PRNewswire/ -- Participating workers across the country made a record number of holiday purchases through a financially-responsible buying method available as a voluntary benefit through their employer or member association. Purchasing Power®, the leading employee purchase program offering consumer products and services through payroll deduction at the workplace, announced today that its 2016 holiday season sales once again grew by double-digits. In some cases, Purchasing Power's performance even outpaced growth numbers from the overall e-commerce industry, according to a 2016 year-end comScore report on e-commerce holiday shopping1.
Purchasing Power, one of the fastest-growing voluntary benefit companies in the industry, offers an employee purchase program using simple paycheck deduction as an alternative to more costly buying options typically available to underserved consumers. Automatic payments and 12-month payment terms empower customers to budget their purchases without any concerns about interest charges, fees and penalties associated with other payment alternatives. This integrated e-commerce experience provides customers a more responsible way to buy.
"Our 2016 holiday shopping season proved to be the best-ever as a record number of customers were served. Regardless of customers' preference, we are committed to being there for them wherever, whenever and however they want to engage," said Scott Rosenberg, Purchasing Power President and CFO. "Furthermore, Purchasing Power's mobile traffic numbers met or exceeded this holiday's levels seen across the broader e-commerce industry."
Highlights of Purchasing Power's Holiday Season 2016 performance compared to the same time period in 2015 include the following:
- Thanksgiving/Black Friday orders increased by 13%
- Cyber Monday purchases rose 26%, outpacing overall e-commerce growth of 17%
- Green Monday grew 22%, also outpacing overall e-commerce growth of 15%
- Mobile shopping hit a season high on Christmas Day (Dec. 25) as more than 77% of all website traffic came from a mobile device.
Among Purchasing Power's top-selling gift items during the 2016 holiday season were Smart Watches, brand name video gaming systems and software, digital cameras and accessories, unlocked cell phones, Apple iPod Touch devices and electronic toys and games for kids.
"Our mission is to help employees find relief from the financial stress associated with high-interest payments for holiday purchases," added Rosenberg. "Knowing that payments are affordably spread across 12 months and will never increase can offer customers peace of mind as they approach the new year. We're proud that we are helping so many people every year as we deliver on our mission statement, Powering People to a Better Life ."
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. Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. Headquartered in Atlanta, Purchasing Power is 'Powering People to a Better Life' through its employee purchase program, financial literacy efforts and corporate social responsibility initiatives. Purchasing Power is a Flexpoint Ford, LLC company. For more information, visit www.PurchasingPower.com.
1 PRNewswire, January 5, 2017 comScore Press Release, "Final 2016 Desktop Online Holiday Sales Reach $63.1 Billion, Up 12 Percent vs. Year Ago"
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SOURCE Purchasing Power, LLC
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