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Purchasing Power® Exceeds 2009 Revenue Projections

Freestanding wooden stairs

Purchasing Power today announced that the company’s 2009 revenue exceeded $107 million, a 42 percent growth over 2008.  The company, which offers an employer-sponsored benefit program that allows consumers to purchase name-brand items through payroll deduction, exceeded 2009 revenue goals by 7 percent, topping $100 million for the first time in the company’s history. November and December 2009 showed record sales growth, as Purchasing Power reported a 49 percent increase in revenue over the same period in 2008. Additionally, Purchasing Power launched 36 new accounts in 2009 - ten more than in 2008 – from healthcare, education, manufacturing and other industries. “In an atmosphere of decreasing lines of credit and stricter budgeting, people need new ways to provide for themselves and their families,” said Richard Carrano, Purchasing Power’s president and chief financial officer. “Purchasing Power offers a disciplined spending option to help people make purchases without over-extending themselves.” Carrano attributed Purchasing Power’s success to strategic marketing decisions, including a redesigned Web site at and additional advertising to specific target audiences. The company also launched new products throughout the year, adding furniture for home offices, bedrooms, dining rooms and living rooms, to its already-popular computer and electronics offerings.