Layaway popularity on the rise - WMC Action News 5 - Memphis, Tennessee

Reported by Ben Watson

Layaway popularity on the rise

It is the latest sign of the economic crisis. More stores are reminding shoppers they can put merchandise on lay-a-way. And more shoppers are taking stores up on it.

From Burlington coat Factory to K-Mart to T.J. Maxx, lay-a-ways are letting shoppers who cannot afford the full price pay a lesser amount through payment schedules that suits their wallet.

Law-a-way plans are becoming more popular because a number of plans do not charge interest and there is no big bill at the end of the month.

K-Mart is advertising their layaway plan for the first time in years.

Putting items on lay-a-way was very popular during the 1920's and 30's, but dwindled during later times of easy credit. 

Now more and more shoppers are turning away from traditional buy now pay later purchases and turning toward the pay now get later concept.

And for shoppers who do not have time to stand in store lines, sites like laymeaway.com allow you to click onto thousands of stores and millions of items.
 
Now there are some law-a-way rules you need to be aware of.

To make a law-a-way purchase, you usually have to make a deposit and many plans require that you get your merchandise out in a certain time period. Sometimes in 30-days and sometimes you can take a little longer.
 
Chances are, as Christmas draws closer, there will be longer lines at the law-a-way counter.


Click here to e-mail Ben Watson.

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