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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?

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Originally posted by Jaclyn Wells on March 13, 2009 in Ideas.

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