This may be old news to some, but it was new to me… I was at Wal-Mart last night when I noticed a sign saying that they are phasing out layaway. If you’re not familiar with layaway, it refers to the ability of customers can ‘reserve’ a product at a store by making a deposit, paying it off over time, and then picking it up when the balance hits zero. I’m guessing this won’t have much impact on readers of this site, but Wal-Mart attributes the move to declining demand for their layaway service. While I wonder how true that really is, it wouldn’t be particularly surprising if the ready availability of credit cards has turned enticed customers who otherwise would have bought on layaway to buy now and pay later. Regardess of the cause, Wal-Mart is “easing the transition” by keeping their layaway service active through the holidays. In case you’re interested, you have until November 19th to put things on layaway, and everything has to be paid off by December 8th.
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