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LockedSears Keeps Layaway

posted on January 16, 2009 at 03:29PM Inappropriate?

Saw that Sears has announced it will keep layaway at their stores year-round now.  This is good news, and a great way to buy things like lawn/garden items now in the dead of winter and have them paid for by the time spring hits!

 

replies: 9 latest post: July 23, 2009 at 12:39PM by LayawayExpert
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posted on January 16, 2009 at 06:29PM
 
If Sears can keep lay away all year long, why can't Kmart?  There are times when lay away would be most helpful.  I agree that with lay away you can start early for whatever season is coming up.   I don't live within a short driving distance to a Sears but a Kmart is only 20 miles away
posted on January 16, 2009 at 07:10PM
 
In response to Yaweh's post from January 16 2009 06:29PM
Not sure of the length of the Kmart layaway but it use to be 10 weeks. The  problem arises when the weekly payment is not paid. The layaway number then goes on a report and the GM must decide whether to do a RTS of the goods and decrease his sales for the week. The customers that use layaway must understand that the weekly payment has to be made  or a payment of enough funds so the next payment is extended out beyond the next week. Layaway is good  for sales for a store but can have a negative impact on a company if the goods sit there and are not being paid off. A company has to look at the carrying cost of the goods. Layaway is a good program if the public understands that if they do not pay the goods will be put back out to sale as well as they will loose there layaway fee that they paid when they put the goods on layaway. Clearence goods shooul dnot be put on layaway or the consumer will wait till the end to get the goods out and get their price adjustment thus costing the retailer their profit dollars of goods that could have been sold at a higher price if they were on the sales floor and ava for sale. I can remember my last couple of years with Kmart having $250,000 plus balance on layaway toward Christmas. Layaways must be kept organized and SECURE or they will cost one money.
posted on January 16, 2009 at 09:20PM
 
In response to Yaweh's post from January 16 2009 06:29PM

Yaweh said…
If Sears can keep lay away all year long, why can't Kmart?  There are times when lay away would be most helpful.  I agree that with lay away you can start early for whatever season is coming up.   I don't live within a short driving distance to a Sears but a Kmart is only 20 miles away

Yaweh -

Kmart does have layaway all year long!  Have you checked with your local Kmart?  They are the only store that has kept layaway for all these years and just started advertising it in force this Christmas.

Check it out -- I think you'll be pleasantly surprised!

Rob

posted on January 21, 2009 at 11:25AM
 

Sears should keep lay-a-way all year long. I worked at Sears for the Christmas season this year, people really loved the idea.  Sears just has to really organize it a little better. Kmart I'll have to check ?

jodi

posted on January 21, 2009 at 04:36PM
 

I think layaway is great for Kmart only during the holidays for all items except electronics, lawnmovers, and expensive fitness equipment. Those larger items like the electronics, lawnmowers, fitness equipment etc. should be allowed to layaway through out the year, but if you are more than 14 days late you lose your payments.

Sears should have layaway for all their items because they are more expensive. Most people will only use the layaway for Prom, holidays, cotillions, weddings, and other special ocassions when they spend a lot of money.

If their is a minimum and maximum you can layaway at one time that will help ensure people pay their layaway off. 

 

posted on January 21, 2009 at 04:40PM
 
Thank You for the layaway update. I am getting married and move into a new home so I may want to put some big ticket items layaway. I know I want that washer and ryer they always show on Extreme make over.
posted on January 21, 2009 at 09:47PM
 

During christmas you could only layaway certain items at Sears. I know you couldn't do electronics can you layaway them now?

posted on February 11, 2009 at 10:53AM
 
I am curious myself because I need things like IPods and so On so it would be a great find for me... Thank you so much. I am also a Teleserv Employee so I prefer to be true to Sears...
posted on July 23, 2009 at 12:39PM
 

Electronics are currently available for layaway at Kmart and will become available for layaway at Sears on Aug 2nd, 2009. For the full details of the program (and what is / not eligible for layaway) see the Sears Layaway blog:

http://blogs.mysears.com/layaway/

LayawayExpert

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