ATLANTA, Aug. 23, 2016 /PRNewswire/ -- Purchasing Power®, one of the fastest-growing voluntary benefit companies in the industry offering a leading employee purchase program through an online platform, has ranked #103 in the recently-released Internet Retailer 2017 Mobile 500, up from #156 in 2016.
Internet Retailer's 2017 Mobile 500 is an annual ranking profile of the world's 500 largest mobile commerce competitors by annual mobile sales and other key metrics. Driven by innovations in technology and shifting consumer behaviors, mobile commerce continues to skyrocket worldwide.
According to Internet Retailer's 2017 Mobile 500 report, top players in the Mobile 500 dial in to new mobile technologies that expand far beyond launching m-commerce sites and apps and push the boundaries of mobile commerce farther than ever before. Mobile sales (smartphone and tablet) by the world's 500 leading mobile commerce sites are on pace to reach $220.4 billion in 2016, up 53.4% from $143.7 billion in 2015.
"Our growth this year can be attributed to Purchasing Power's focus on delivering a superior customer experience," said Richard Carrano, Purchasing Power President and CEO. "We pride ourselves on knowing our customer and realize that mobile commerce is favored by many of them—in fact, mobile traffic now represents 48 percent of our retail transactions."
Purchasing Power's mobile sales in 2016 is projected to grow by 40%. Among the 383 U.S. retailers named in the Mobile 500 report, Purchasing Power ranked #55, ahead of such brand name companies as American Eagle (#56), J. Crew (#58), Dick's Sporting Goods (#61) and Under Armour (#64). Retailers listed immediately ahead of Purchasing Power include Neiman Marcus (#54), Talbots (#53) and Crate & Barrel (#52). Among "Specialty" retailers, Purchasing Power ranked #3 ahead of Disney Store USA (#4) and Shutterfly (#5) and behind German retailer Zooplus AG (#1) and APMEX, Inc. (#2).
"Improving the mobile shopping experience has absolutely increased customer conversion," added Prakash Muthukrishnan, CIO for Purchasing Power. "Last year, we concentrated on refining usability by optimizing our responsive site as well as enhancing our mobile app with many self-service features. With enriched features such as account information, document upload and easy navigation of our product catalog, customers now can explore our platform at their leisure and have all the information they need at their fingertips to make well-informed purchasing decisions."
The employee purchase program from Purchasing Power is offered as a voluntary benefit to employees through an ecommerce platform that engages the customer through an ever-expanding catalog of goods and services.
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 7.8 million 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 Rockbridge Growth Equity, LLC Company. For more information, visit www.PurchasingPower.com.
"A Better Way to Buy" and "Powering People to a Better Life" are trademarks, and "Purchasing Power" is a registered trademark, of Purchasing Power, LLC.
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SOURCE Purchasing Power, LLC