A new demographic profile of Purchasing Power users, compiled using data through October 2017, provides valuable insight into which of your employees are using our employee purchase program.
Demographics of our users show that:
- 66 percent are women and 34 percent are men;
- Employees 30-39 and 40-49 are the most likely users (both at 28 percent), with 50-59 year-olds at 19 percent; 19-29 year-olds at 17 percent; and employees 60+ at 8 percent;
- 73 percent of users earn a salary of $49,000 or less; 18 percent are in the $50,000 - $74,900 salary range; 6 percent in the $75,000 to $99,900 salary range; and 3 percent in the $100,000+ salary range.
- 61 percent are repeat buyers and 39 percent are first-time buyers.
The demographic profile also provides further insight on program users:
- 93 percent say it reduces financial stress;
- 85 percent are less likely to withdraw from a retirement savings account;
- 81 percent say it increases satisfaction with their organization;
- 80 percent say they are more likely to stay with their organization.
Access the Customer Demographic sheet for additional information, including the most frequent electronic devices that employees use to shop and purchase through our program.