Walmart gave it up and so have many other retailers. Today, even with a shaky economy, it's difficult to find retailers who offer layaway programs, according to the Danville (VA) News.
Goody's and Kmart were the only retailers the paper found who still offer the service.
Creed Williams, a store manager at Goody's at the Riverside Shopping Center in Danville, said the store's layaway program was "still a very popular service. Goody's offers consumers who put down a 10 percent deposit a 30-day layaway option.
Kmart's layaway program, which also requires 10 percent down, offers shoppers 60 days to finish purchasing the product. Shoppers are charged a $5 layaway fee and another $10 if they cancel the order.
Jackie Younger, acting store manager at a Kmart in Danville, said consumers who use layaway are "good customers, and layaways are how they survive."
Kmart's layaway service is particularly popular leading up to the Christmas holiday. "At Christmas, it's off the hook," said assistant store manager Debbie Custer. "We have to open three new areas to keep (layaways) in."
Sears offers layaway but only on selected products such as jewelry and promotional items. They have up to 90 days to buy the item and are required to put a $25 deposit down.
Discussion Questions: Do you see increased demand for layaway programs in the current economic environment? Does it make sense for companies to bring dumped layaway programs back or does the original rationale for ending this service still hold?