The layaway plans of the past seem to be making a comeback this year to "entice customers back to shop for Christmas gifts despite tighter credit and slumping retail sales," the Tennessean reported.
For the first time in 19 years Sears will reintroduce its layaway plan. Kmart, which is owned by the same company has been highlighting its layaway plan on TV commercials. Something that was never done before. Everyone knows Kmart has layaway, but today's economy warrants the reminder.
Using layaway became unpopular a number of years ago when the use of credit cards became the primary method of payment. Now some people are having a hard time keeping above water where their credit card payments are concerned.
Layaway could be one of the safest ways make a large purchase if you can not pay for it cash.
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