Posted on 09/10/2011 5:58:10 PM PDT by BBell
Five years after Walmart stopped offering customers the option to put most purchases on layaway, the nation's largest retailer has decided to bring it back for brief run during the 2011 holiday shopping season. Of course, this being Walmart, the holiday shopping season begins in October.
Sales at Walmart stores open for at least one year have fallen for nine consecutive quarters, so Big W is hoping that it will see some of the benefits its competitors have seen by offering the layaway option.
The layaway plan will become available starting October 17 and will be offered for toys and electronics in the weeks leading up to Christmas. The store, which never dropped the layaway option for fine jewelry purchases, says it will decide at a later date whether or not to continue or expand the program.
To qualify for layaway, customers must spend at least $50, and each item on layaway must be worth at least $15. Shoppers pay a $5 fee, put 10% down and must pay off the balance by Dec.16 lest they face a $10 cancellation fee.
"We're always looking for ways to ease budget strain for our customers, and we know this holiday season in particular brings with it additional financial pressure," said Walmart's chief merchandising officer.
What does this say about the state of our economy?
>>What does this say about the state of our economy?<<
More importantly, what does it say about the stupidity and lack of simple discipline of many people?
Anyone can do their own layaway — take an envelope, put the “payment” for what you want in regular intervals. When the price of said object is met, purchase object.
That way, if you change your mind you have the money.
It says alot about the liberal moron they hired a few years ago that insisted on revamping the store.
If memory serves, he was terminated not long ago.
An American free market institution trying to figure out where this economy is going heading into the Christmas season - I’ll take their instincts every single time over Team Obama. Every one. Marxist elitists like Obama and his team turn down their noses at Walmart, but I’ll put my Walmart experiences against the IRS every single time. Every one. I’ve had some negative experiences at Walmart but enough good ones to take them every single time against some government owned or controlled entity. Every time.
Screw layaway, pay cash only and buy as little as possible this Christmas season.
I think it’s a great idea. It is a much more responsible way of purchasing, than going into debt, and it makes it possible for families who are really hurting right now to be able to put a little away for Christmas.
Some people are so dumb they have to pay Walmart to ser aside their money.
And who buys fine jewelry at Walmart?
I have used Wal-Mart’s layaway plan years ago, when all the kids were little and I had 4 kids that expected Santa to be bringing toys. If they expanded their layaway options to books, CDs, movies, perfume and the like, I’d give it another shot. That’s all my kids want nowadays anyway.
Can someone that understands it please explain the point of layaway? I’ve just never understood. Unless you are concerned that a particular item will be unavailable in the future, what possible reason is there to pay anything or commit yourself until you are ready to buy it?
“..it makes it possible for families who are really hurting right now to be able to put a little away for Christmas.”
Since it is impossible to put a little away for Christmas without a layaway plan.
It says Obombaconomy.
I agree that law-away is certainly better than buying on credit.
Have you ever put down money on a house or a car? Sure, you could wait until you have the money for those too but people rarely do. At least with Layaway it doesn’t leave the store until the debt is paid. No foreclosure or reposessing the car.
“Anyone can do their own layaway- take an envelope, put the payment for what you want..”
I remember as a kid that a lot of Moms had a Christmas account... all year, they would take a small % of the family paycheck and put it into that specific bank account. The money could be withdrawn at any time but the premise was to save up the entire year (in small increments).
Ah, the good ole’ days. No, seriously. :)
I’m going all out Obama this Christmas.
Gonna spend 10 times what I can afford to spend, and I’m gonna pay for it with future cuts in my pizza allowance, even though I don’t eat pizza, therefore having no budget allowance for such.
About a year ago, I decided that I wanted to get an Apple Macbook Pro - a $2000+ item. Purely a luxury item so I couldn't justify putting it on a charge card or taken the money from our savings accounts. So I started socking away money whenever I could by doing things like taking lunch to work from home and canceling magazine subscriptions and such. After about six months, I finally had enough to purchase one but by then, Apple had refreshed the product line so I was able to get the latest and greatest with my cash money. Had I done a "layaway" plan, I would have been stuck with an outdated model and would have paid extra fees for doing so!
“Ah, the good ole’ days..”
I was probably really dating myself on that post! I can imagine some younger FReepers wondering “an account actually using the term “Christmas” in it?!! I remember even during the hot days of Summer, some of the paycheck money going into it because the parents knew “Christmas will be here in the blink of an eye”. I will actually state that children did learn about “planning” for a financial event. They were very good lessons!
>>Had I done a “layaway” plan, I would have been stuck with an outdated model and would have paid extra fees for doing so! <<
That is one of the BEST examples of why layaway is so dumb.
Discipline is often more than its own reward. We have a fund we use for just in case — we buy ALL appliances cash.
We also keep 6 months gross income in a liquid asset — it was very helpful in securing my recent home loan at 3.5%. We used just a sliver of it and will “refill” it when we sell our current place.
When times are tough cash is king. Cash is aggregated through discipline.
The only thing dumber than layaway is buying anything other than a house or car on credit.
Dumbest is carrying any balance on a credit card.
Well said! I agree.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.