Eggnog, office parties—and layaway? You may not think of buy-now, pay-later shopping programs as a holiday tradition, but Walmart is hoping you will. The retailer's holiday layaway program is back, and this time with a benevolent twist: It's free.
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Among the key eligible items are electronics and toys, plus small appliances, jewelry, and select sporting goods. New items this year include car audio and infant toys.
Last year Walmart charged a $5 service fee to shoppers to take part in the layaway program. This year the fee has been waived, but you still need to spend at least $50 (with a $15 minimum price per item), and put down a deposit of either 10 percent of the sale or $10, whichever is larger. And there's a $10 cancellation fee, something Walmart didn't impose last year. (Cancellation fees don't apply in the District of Columbia, Maryland, Ohio, and Rhode Island.) Walmart's Ad Match policy will apply to layaway items, so the retailer will match any local competitor’s print ad for an identical item.
Walmart's layaway plan over the years
|Number of items available (may vary by store)||30,000||34,500||35,500|
|Down payment||$10 or 10%, whichever is greater||$10 or 10%, whichever is greater||$10 or 10%, whichever is greater|
|Minimum purchase||$15 per item, $50 total||$15 per item, $50 total||$15 per item, $50 total|
|Days to pay||60||90||90|
Information courtesy of Walmart
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The layaway program kicks off Sept. 13 and runs through Dec. 13, but early-bird shoppers can get a two-day head start (Sept. 11 and 12) by becoming a Walmart Facebook fan.
According to Walmart, electronic items from top brands will include:
- Tablets, including the iPad, iPad Mini, Samsung Galaxy Tab, and Google Nexus
- Smart phones such as the iPhone 5 and Samsung Galaxy S III (prepaid only)
- PlayStation 4 and Xbox One game consoles (and games)
- Big-screen smart TVs, 60 inches and larger
- Kids' tablets and learning toys
To take part in the layaway plan, you need to open an account by visiting the Walmart.com services desk in any Walmart Supercenter or Walmart store. Once you've opened a layaway account, payments can be made at any store register for the duration of the program, and you'll get e-mail payment reminders and status updates to keep you apprised of your balances. For larger items too heavy or bulky to carry to a counter, you can just rip off a tear-pad slip near the item and take that to the Walmart.com Service Desk.
In all, Walmart says 35,500 items will be eligible for the layaway program—1,000 more products than were included in the plan last year. Full details of the Walmart layaway program are available at www.walmart.com/layaway.
—James K. Willcox
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