Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

Christmas Layaway is Making a Comeback

layawayMany merchants, including jewelers, have once again instituted layaway programs to entice consumers.US (11/18/2012) - Business prognosticators once said that layaway would go the way of the dinosaur. The concept would be archaic and essentially extinct, as credit cards overtook layaway plans. Although many stores dropped their layaway policies for much of the late 20th and early 21st centuries when business was booming and credit was easy to secure, layaway has since made a comeback.

Many stores have resuscitated their layaway programs in recent years. Spurred on by the poor economic climate and consumer desire to avoid post-holiday debt, layaway is gaining in popularity. Polling through Frugal Living indicates that of the nearly 5,000 respondents, 87 percent plan to use layaway this year. The growing number of stores that are offering layaway serves as an indicator of how popular layaway has made a comeback.

Babies 'R Us, Toys 'R Us, WalMart, Kmart, Burlington Coat Factory, Hallmark, Marshall's, TJ Maxx and Sears are some of well-known retailers now offering layaway. In addition, some antique stores, jewelry stores and other merchants may offer their own layaway programs. It doesn't hurt to ask, especially because layaway can be beneficial to merchants and consumers alike.

Better-quality merchandise
Paying incrementally enables many shoppers to afford higher-quality items. Furniture, appliances or jewely can be put on layaway and shoppers won't have to accrue any debt.
While buyers are able to enter stores and shop for exactly what they want -- without having to settle for lower-priced gifts -- retailers benefit by increased profits on higher-end merchandise. Because there are penalties in place if a person defaults on their layaway order, and since merchandise is not leaving the store before it is paid for, there is a very low risk assumed by stores who offer layaway.

Disappearing layaway fees
Increased competition for layaway shoppers has led many retailers to remove traditional layaway fees. Stores may waive deposits on layaway accounts, making layaway an even more attractive option to shoppers.

No risk for credit card debt
Once the balance on a layaway account is paid in full, the merchandise can be taken out of the store. Unlike shoppers who pay for items with a credit card and get stuck paying down that holiday debt for months and years to come, consumers who choose layaway are debt-free once the account has been paid in full. Although layaway isn't risk-free, any fees tacked on to the account for failure to pay are likely to be less expensive than fees and penalties implemented by credit card companies.

Layaway attracts shoppers
Stores looking to increase foot traffic may want to consider instituting a layaway option. Layaway requires a shopper make several trips to a store, iand each of these trips presents the opportunity for a retailer to offer new merchandise or deals for shoppers, who may be inclined to increase their layaway tally. Layaway gets shoppers into the store, increasing the likelihood they will spend more and more money.

Layaway can teach adults and children alike
In a world where buy now/pay later has become the norm instead of the exception, layaway reinforces the fiscally responsible trend of only getting what you can pay for, a valuable lesson for kids and adults alike. Taking children along to make layaway payments can teach them the concepts of budgeting and living within your financial means.
Layaway has reemerged as a sensible way to pay for holiday gifts and other big-ticket items without being racked with post-holiday debt. 

SurfKY News

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Posted on 2/2/14
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
447 on Feb 15th (Val ad ended) switched to kid books
2/18 - 553 clicks
CHANGED TO SIMPLE AD ON 2/19 619 HITS
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
447 on Feb 15th (Val ad ended) switched to kid books
2/18 - 553 clicks
CHANGED TO SIMPLE AD ON 2/19 619 HITS
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
447 on Feb 15th (Val ad ended) switched to kid books
2/18 - 553 clicks
CHANGED TO SIMPLE AD ON 2/19 619 HITS
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
447 on Feb 15th (Val ad ended) switched to kid books
2/18 - 553 clicks
CHANGED TO SIMPLE AD ON 2/19 619 HITS

Most Read This Week (Site-Wide)

April 16, 2014 17863

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 14, 2014 5927

U.S. Bank Hanson on Lockdown Due to Bomb…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 14, 2014 5122

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4357

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2845

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter

Most Read Stories from Hopkins County

April 14, 2014 5122

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4357

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2845

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 12, 2014 2753

One Injured in Two Vehicle Accident in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 15, 2014 2409

Multi-Agency Investigation Leads to Drug…

in Top Stories by Lori Blakeley

Most Read Stories from Owensboro

April 14, 2014 1804

Grow Garden Grow - Spring Has Sprung

in News by Barbara Cecil Russ
April 15, 2014 1182

Owensboro Police Investigate Auto Accident

in News by Michael Hathaway
April 13, 2014 931

Two Daviess County Men Busted for…

in Top Stories by Scott Gibbs
April 15, 2014 925

Owensboro Parks Offers Tennis Lessons

in News by Britni Bunn
April 14, 2014 599

Owensboro Health Hosts Tours for…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

April 13, 2014 2762

Muhlenberg 4-H is Buzzing

in Top Stories by Janie Culton
April 14, 2014 2173

MCC Staff Shares Good News with…

in Top Stories by Paul McRee, SurfKY News Reporter
April 16, 2014 2012

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 15, 2014 1498

'Walk Right Back' An Everly Brother's…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1395

Local MCHS Students Train at Job Corps

in Top Stories by Karen Robinson

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03