Wal-Mart Ending Its Layaway Program

CrimsonTide4 · #1 09-14-2006, 04:59 PM

http://biz.yahoo.com/prnews/060914/dath033.html?.v=65

Wal-Mart Will Phase Out Layaway Program

Thursday September 14, 11:52 am ET

BENTONVILLE, Ark., Sept. 14 /PRNewswire-FirstCall/ -- Wal-Mart Stores, Inc. (NYSE: WMT - News) said today that, because of declining use and increasing costs, the company will phase out its layaway program as it expands other financing options. Customers will have until November 19 to place items in layaway for this Christmas season and merchandise must be picked up by December 8.

Thoughts?

Exquisite5 · #2 09-14-2006, 05:21 PM

I didn't even know Walmart HAD lay-a-way.

lilbay77 · #3 09-14-2006, 05:39 PM

Wow. Thats too bad. I always put Christmas laways in at WalMart.

sugarplumfairy · #4 09-14-2006, 06:19 PM

Layaway used to be a great thing...I remember when I was in college I used it alot when I was on a tight budget...but now I noticed that most of them are only 30 days instead of 60 or 90 days...so it really doesn't help much.

It's sad in some ways though...if they are doing away with the layaway b/c of other financing options...alot of people that had poor credit used layaway b/c they didn't have credit cards...which affects the poor more than anyone else.

kddani · #5 09-14-2006, 06:25 PM

The only point I can see in layaway is when you're buying your kids toys or something for Christmas/their birthday and have no where to hide them, layaway takes care of that for most of the time.

AlphaFrog · #6 09-14-2006, 07:24 PM

Quote:

Originally Posted by kddani

The only point I can see in layaway is when you're buying your kids toys or something for Christmas/their birthday and have no where to hide them, layaway takes care of that for most of the time.

Better use: I put all of my "going away to college stuff" (towels, sheets, shampoo, soap, etc) on layaway. No storing the stuff in my room at home until I was ready to go, and when I picked it up the week before, it was already boxed and ready to go.

mulattogyrl · #7 09-14-2006, 08:32 PM

Quote:

Originally Posted by Exquisite5

I didn't even know Walmart HAD lay-a-way.

Me neither.

PhiMuAmberkins · #8 09-14-2006, 09:51 PM

My family will be deeply affected by this. Walmart is literally the only place to shop in my hometown, and we're poor. I wish Walmart would remember the people from Northwest Arkansas that helped them when they were first starting out. We're still here...and not all of us have become international billionaires.

I'm a little peeved.

macallan25 · #9 09-14-2006, 10:29 PM

....are you serious?

winnieb · #10 09-14-2006, 10:46 PM

Quote:

Originally Posted by kddani

The only point I can see in layaway is when you're buying your kids toys or something for Christmas/their birthday and have no where to hide them, layaway takes care of that for most of the time.

I use walmart layaway for this very reason. It allows you to get all the good gifts early and never worry about hiding them at home! I have snoopy kids!

#11 09-15-2006, 01:55 AM

Me too! My son's birthday is Dec 11 and christmas is right after that. It is the only way to cut down on hiding the presents and and saving some too vs paying all at once since the majority of birthdays in my family are in December.

sdsuchelle · #12 09-15-2006, 03:09 AM

Layaway is awesome when you find something you really want but don't have the money for it right away.

This happens to me quite often.

kddani · #13 09-15-2006, 07:43 AM

I don't know. I was raised to not buy things you can't pay for. Hence why i'm not in credit card debt like many people.

Layaway charges a fee. During the time your stuff is on layaway, there's a good chance that it will get marked down out on the floor.At least when I worked at TJ Maxx in HS, we would not mark down your stuff. Doesn't seem real economical.

AlphaFrog · #14 09-15-2006, 08:07 AM

Quote:

Originally Posted by kddani

Layaway charges a fee. During the time your stuff is on layaway, there's a good chance that it will get marked down out on the floor.At least when I worked at TJ Maxx in HS, we would not mark down your stuff. Doesn't seem real economical.

Layaway at Walmart is free, and if it gets marked down, they give you the discount.

kddani · #15 09-15-2006, 08:25 AM

Quote:

Originally Posted by AlphaFrog

Layaway at Walmart is free, and if it gets marked down, they give you the discount.

Obviously i've never done layaway at Walmart.

But knowing that, sounds like a business decision. Layaway costs money to staff and storage space and packaging for all that stuff.