Wal-Mart restarts layaway on electronics and toys for the holidays. Wal-Mart, the world’s largest retailer plans to resume layaways on electronics and toys for the holiday season because customers are struggling to buy merchandise.
The program will be available at all stores across the nation starting October 17 running through December 16, Wal-Mart announced. Toys and electronics that have a retail price of $15 or more are qualified. Wal-Mart cancelled layaway on everything but jewelry in 2006. The company is trying to stop declining sales at U.S. supercenters and discount stores. Wal-Mart shoppers’ biggest concern is unemployment, Chief Financial Officer, Charles Holley said on a conference call last month.
I think it is a wonderful idea that Wal-Mart is allowing layaway for toys and electronics. So many stores have stopped layaway sales. The best thing about layaway sales is that when you collect the merchandise, it is paid for in full. I think with the advent of credit cards , layaway sales pretty much disappeared. In this economy, people can’t afford to spend a lot of money at one time. By allowing payments every
week or so, the purchases are easier to finance. America needs more stores like Wal-Mart that try to help their customers afford merchandise.
news info:Bloomberg
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