Christmas is now just seven weeks away. Stores are trying to get you in the door as early as possible and some are even trying to help you shop now and pay later.
Kmart Store Manager Bill Gier says, "The economy is tough, but they still want to do, get nice things for their children and friends and family."
He says that's why more shoppers are starting to put items on layaway. The practice has been around since the Great Depression, but faded away when more people got credit cards. Now, more stores are offering it, including Sears and Toys 'R Us. Gier says Kmart is the only national discount chain to offer a full layaway program. He says nationally, 1.4 million new customers used their program last year.
He says, "These last couple years there's been a large increase and it's trending that way again this year as more and more people are trying to make their dollars spread out more through the holiday season and they can still get the things they want to get."
It's not just for big ticket items like T.V.'s. You can put everything on layaway, except food and perishables. This is how it works: It's an 8 week payment plan at Kmart. You put a certain amount down and make bi-weekly payments. Once you you pay for the entire item in full, you take it home. There is a $5 fee.
Gier says it's a way to pay for presents without racking up credit card debt. He says, "This is a way they can do it because they can spread the payment out over an eight week period."
The Better Business Bureau sent out tips this week for consumers looking into layaway. The BBB says to get everything in writing and ask questions, like when are the payments due, are there any storage or service plan fees, and what happens if the item goes on sale after I put it on layaway?
Kmart Store Manager Bill Gier says, "The economy is tough, but they still want to do, get nice things for their children and friends and family."
He says that's why more shoppers are starting to put items on layaway. The practice has been around since the Great Depression, but faded away when more people got credit cards. Now, more stores are offering it, including Sears and Toys 'R Us. Gier says Kmart is the only national discount chain to offer a full layaway program. He says nationally, 1.4 million new customers used their program last year.
He says, "These last couple years there's been a large increase and it's trending that way again this year as more and more people are trying to make their dollars spread out more through the holiday season and they can still get the things they want to get."
It's not just for big ticket items like T.V.'s. You can put everything on layaway, except food and perishables. This is how it works: It's an 8 week payment plan at Kmart. You put a certain amount down and make bi-weekly payments. Once you you pay for the entire item in full, you take it home. There is a $5 fee.
Gier says it's a way to pay for presents without racking up credit card debt. He says, "This is a way they can do it because they can spread the payment out over an eight week period."
The Better Business Bureau sent out tips this week for consumers looking into layaway. The BBB says to get everything in writing and ask questions, like when are the payments due, are there any storage or service plan fees, and what happens if the item goes on sale after I put it on layaway?
