Wal-Mart To Get Rid of Layaway!

bobber205

macrumors 68020
Original poster
Nov 15, 2005
2,182
0
Oregon
I went to my friendly nearby Wal-Mart and saw a big sign proclaiming how Wal-Mart is "phasing" out layaway.

Weird eh? I worked a month at that Wal-Mart and it had tons of crap in the back due to layaway. Obviously Wolly World must be losing alot money due to it, or it wouldnt' get rid of it.

Any comments?
 

beatsme

macrumors 65816
Oct 6, 2005
1,204
1
gotta believe it's a mistake. It's one thing to screw your employees, but screwing your customers...not smart.
 

iMeowbot

macrumors G3
Aug 30, 2003
8,636
0
This has been in the news too, apparently fewer people have been using it.
 

swingerofbirch

macrumors 68040
We have this section of our newspaper on the last page where people write in anonymous complaints or praise for local businesses (among offering other opinions). It's sort of like an abbreviated, more casual, letter to the editor. Since it's anonymous if it's a complaint they don't publish the names of stores which are being complained about.

Anyhow in today's paper someone wrote to complain that a local store was eliminating lay-away.....now I know which store that was, so thanks!
 

portent

macrumors 6502a
Feb 17, 2004
623
2
Layaway was important before everyone had fifteen credit cards.

Now you can pay over time, but still take it home the same day! How can you lose?!!!*


*For customers with approved credit. Interest charges will apply. Failure to pay will result in a reduction in your credit score and the use of aggressive collection agencies that may engage in illegal harassment.
 

bousozoku

Moderator emeritus
Jun 25, 2002
13,979
3
Gone but not forgotten.
It probably saves the customer and the store money in the long run because when people don't continue to pay, they lose their money and the store ends up putting the item back on the shelf.

While I did lay-away sales way back when I worked in retail, a lot of people did lay-away, as well as Christmas savings accounts. The trouble with it all is that the accounting to keep track of it costs more than the business it generates.

Gift cards make much more sense and cause fewer returns, too.
 

SmurfBoxMasta

macrumors 65816
Nov 24, 2005
1,351
0
I'm only really here at night.
Having worked in retail for over 20 years, I can tell you without a doubt that layaway is a logistical nightmare of the worst kind, compared in it's absurdity-level to state-run welfare & child support programs. It's about time they finally woke up & realized that :D

Maybe now, with all the money they will save, they can actually hire enough cashiers to keep more than 2 of their 36 checkouts open more than 1 hour per day..........

yea right! :eek:
 

bousozoku

Moderator emeritus
Jun 25, 2002
13,979
3
Gone but not forgotten.
SmurfBoxMasta said:
Having worked in retail for over 20 years, I can tell you without a doubt that layaway is a logistical nightmare of the worst kind, compared in it's absurdity-level to state-run welfare & child support programs. It's about time they finally woke up & realized that :D

Maybe now, with all the money they will save, they can actually hire enough cashiers to keep more than 2 of their 36 checkouts open more than 1 hour per day..........

yea right! :eek:
The super stores in the Orlando area are always staffed pretty well. The Neighborhood Market stores have more self-service lines than manned lines.
 

Applespider

macrumors G4
One problem with it is that it really messes up your stockturn figures.

The store is now paying for the replenished unit without having fully received payment for the original. Plus it is paying for storage of the item, administration of the payments and since ownership hasn't yet transferred to the purchaser, insurance on the item. Not so bad on one or two things but get expensive when you're talking about thousands across a store chain.