If it had lower prices, Sears might be able to make the case that it's the retailer looking out for the little guy. The chain offers layaway for the credit challenged and now it's rolling out a payment protection plan for holders of its credit card who lose their jobs after purchasing major appliances at one of its stores.
Customers who charge $399 or more to Sears's credit card for appliances and related products between July 6 and Aug. 1 and lose their jobs anywhere from 60 days to a year will get one-twelfth of the purchase price credited to their accounts for every month they are out of work. If the customer is out of a job for a year, they owe nothing and get to keep the appliance.
"Our customers have told us that even with the Sears best price guarantee,
they have been deferring much-needed appliance purchases," said Kevin Brown,
vice psident and chief marketing officer for home appliances at Sears, in a
press release.
"With Sears' Buyer Protection Program, customers can move forward with confidence
and make a purchase knowing that if something unforeseen happens with a job,
the Sears Buyer Protection Program will credit their Sears account for that
purchase and allow them to keep the appliance," Mr.
Brown said.
Discussion Questions: How successful will Sears' Buyer Protection Program be in getting consumers to move forward and purchase major appliances from the retailer? Will this program, along with layaway and other initiatives, create a clearer point of difference between Sears and its competitors in the minds of consumers?