Wal-Mart brings back layaway
Sep. 8th, 2011 08:48 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
walkitoutOf course, I had multiple reactions to this.
(1) Wal-Mart had layaway?
(2) And then they got rid of it?
(3) And they're charging you $5 for the privilege?
http://www.walmart.com/cp/1088466?adid=1500000000000023901370
They have minimums (each item must be at least $15 and the total purchase must be at least $50 and you have to start the clock after a certain date and pick it up before another date), but I'm betting there are also some maximums -- I wonder what they are? I'm trying to remember if I ever used to use layaway at the Bon. I got my first store card there when I was a teenager, and I did seasonal work there a couple years so I seem to recall being on the store side of completing a layaway purchase. Perhaps R. will remind me if Woolworth's had layaway when we worked there? I _think_ it did, but it's been a long time.
I suspect the minimums are to avoid some of the interest/fee regulation aimed at payday lenders, but I'm not sure.
(1) Wal-Mart had layaway?
(2) And then they got rid of it?
(3) And they're charging you $5 for the privilege?
http://www.walmart.com/cp/1088466?adid=1500000000000023901370
They have minimums (each item must be at least $15 and the total purchase must be at least $50 and you have to start the clock after a certain date and pick it up before another date), but I'm betting there are also some maximums -- I wonder what they are? I'm trying to remember if I ever used to use layaway at the Bon. I got my first store card there when I was a teenager, and I did seasonal work there a couple years so I seem to recall being on the store side of completing a layaway purchase. Perhaps R. will remind me if Woolworth's had layaway when we worked there? I _think_ it did, but it's been a long time.
I suspect the minimums are to avoid some of the interest/fee regulation aimed at payday lenders, but I'm not sure.
just a question i'm sure everyone wants to know?
Date: 2011-10-23 02:21 am (UTC)Re: just a question i'm sure everyone wants to know?
Date: 2011-10-23 03:01 am (UTC)However, the poster is not attempting to sell anything or otherwise do an outbound link and raises an interesting question. I assumed, when I saw the rules, that it was to avoid a PR nightmare if someone put some money towards something that could be regarded as a necessity (children's clothing, say) but then forfeited some or all of that money by failing to complete the purchase and collect it in a timely fashion. If someone puts some money towards a video game or music player or whatever and forfeits, no comparable PR nightmare.
R. thinks it's because they want to make sure that it is a relatively high-value item that is restockable, should it fail to complete its sale. He may also be correct.