Bringing Back Lay-Away
photo credit: crazytales562
Here’s a thought. If you are in the retail sector and you’re concerned about dwindling sales, you may want to consider reviving a payment option we don’t hear much about anymore — layaways.
In today’s economy, instant gratification that a customer receives from instantly purchasing a product or item isn’t exactly always an option for everyone now. It may be time to bring back your layaway plan for your less fortunate customers who don’t have the money or credit to buy everything now.
They can pick out there items and put them away in your facility and pay over time and then take their items home once they are all paid in full. There are different ways and time frames that you can put on your own layaway plan to ensure that items are not off the shelf’s for a year or more.
There however are different tax stipulations and laws depending on your state. Before you implement your new layaway plan, make sure you check out your states law and tax stipulations before you begin offering your customers layaway.
What are your thoughts on layaway plans?
Angela Shupe on March 13th, 2009 1:52 pm
The year I was going to have the opportunity to go a little crazy for my daughter’s christmas was the year that layaway was killed at Walmart.
I don’t use a credit card, so I would love it if layaway would come back to my favorite stores (for those LARGE purchases that come up, like a new computer or holiday gifts), but I doubt they will.
Affordable Software on March 15th, 2009 5:36 am
With today’s economey stores are trying anything to get customers spending money again.
Valencia Green on May 8th, 2009 11:21 pm
I feel that bringing layaway back is a great idea. I am thinking about incorporating it into my website, but I trying to see from a marketing professional if that is a good idea, and from customers. I know for me when I didnt have that much money, it was easier for me to put something on layaway. At least it made me feel like I was accomplishing something.
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