Kmart Layaway

Posted: Tue Oct 14, 2008 6:36 pm Post subject: Kmart Layaway

Kmart.com

Joined: 05 Jul 2008 Posts: 37

Only problem is that over the last few years the dm has a conference call telling all the stores that all Christmas layaways have to be out by early/mid December. Even when people were up to date on payments. They had stores call people telling them they would have to come get their layaways out no matter what. Some were just cancelled with no calls. They did more than Christmas items , security and management put it on all layaways. That action that happened over the last several years really pissed off alot of customers. It was ridiculous the way it was handled. And no clearance is allowed. And when the angry people would come in and some were crying, management would just stand there or they would hide in the office.They were so caught up in losing money that they actually made it happen in using no sense. I am not sympathetic to people who make no payments and think they can ignore til they want but it is another thing to change the terms of a contract when the contract is being performed to its terms. My neighbor across the street lost his layaway due to that policy. He was up to date. He recieved no call and he went in to make a payment and was told his layaway was canceled. He was so mad he never has shopped there again. It would be a good thing with the economy but I hope it isn't handled like in the recent past.

Posted: Tue Oct 14, 2008 8:34 pm Post subject:

bubbdog, you’re right, that (local?) policy was just wrong.
It shouldn’t have happened.
Shame on the dm for doing that to his customers and to his employees who had to
face those unhappy customers.
LT

Joined: 10 Jul 2008 Posts: 56

I just have to chuckle each time I read the layaway option listed in a sales flier or on the PA system: My store hasn't had Layaway since before the bankruptcy. I don't even think that any store in my district still has layaway. Sad

Joined: 14 Jul 2006 Posts: 332

It is good that some stores still offer layaway. For some people, it's the only way to get good gifts for their families. I don't know of any other place besides K-mart that does layaway. Does anyone know?

Posted: Tue Oct 14, 2008 10:52 pm Post subject:

vickers, couldn’t find any national retail chains that offer layaway other than Kmart.
I believe Sears still has a layaway program in Fine Jewelry?

interesting article from Buffalo News
with comments

LT

Joined: 14 Jul 2006 Posts: 332

Yeah, I looked around and couldn't find anything. I don't know enough about jewelry to comment about that.

At least K-mart does something right. This must drive some business into their stores during fourth quarter. Honestly, it IS the only way some people can afford gifts for their kids. Hopefully they will continue to do layaway.

Joined: 01 Feb 2008 Posts: 259

Most retailers did away with layaway when they brought out their own credit cards. They spouted that was the way consumers needed to buy their products. This way the retailer could charge more via finance charges instead of a pittance of a layaway fee. I've done it in the past when my kids were little and I was alone. You're right there are times that is the only way that people can get gifts for their kids. BTDT.

Joined: 10 Aug 2008 Posts: 269

Heck, with electronics by the time you have it paid off, it could be out of date.

Joined: 17 Jun 2008 Posts: 62 Location: nowhereland

Joined: 01 Feb 2008 Posts: 259

Joined: 26 Jan 2007 Posts: 290

I've found QVC flex pay to be the way to afford stuff I couldn't otherwise. Generally their prices are fair and I don't go into any credit card debt.

Joined: 14 Jul 2006 Posts: 332

Tonight on my local news, they ran a story about K-mart doing layaways.

Here's an article about the new ads K-mart is running promoting their layaway.

http://www.adweek.com/aw/content_display/creative/news/e3id5cad753451dc1bf5108441e3a71367d

I think it's good that they are running ads letting people know they still do layaway. Hopefully this can draw in some business. Maybe...

Posted: Thu Oct 23, 2008 6:06 am Post subject:

Joined: 21 Sep 2003 Posts: 590

At first I thought it was a great move on Kmart's part but the more I got to thinking about it,I think it is going to backfire on them.With the economy the way it is,and people panicking about Christmas,I think people are going to tend to go overboard putting tons of stuff in layaway and then as time goes on not be able to make the payments and wind up with their layaways cancelled and have NOTHING for Christmas. I used layaway when my kids were little because I was limited as far as my time to shop,and also money was tight,so I would go one day and get the bulk of what I wanted and put it in layaway. However...I paid regular payments and would get it paid off just in time to pick it up and hide it at my neighbor's house until Christmas Eve.Now though I think they will have people shopping like they do with a charge card(thinking "I don't have to pay for it right now") and get in over their heads. They are going to have people not reading/understanding the policy and it is really going to suck being the person working layaway when these people come in and find that their layaway has been put back. I think that is why other stores have gotten away from it.It is more trouble then the sales that it brings in? WE used to do layaways at Sears,and I remember the year that Atari came out and was so hard to find.Had a guy put one in layaway and a salesperson somehow went and got it out of the layaway area and re-sold it and the guy came in a week before Christmas to get it and it was gone.I remember the store manager trying to perform miracles trying to find the guy another one and everyone would just laugh and say "are you kidding?" Not too long after that we stopped doing it.I can remember the beginning of every month we would get called to the layaway desk and have carts full of mdse. to put back from cancelled layaways.I swear...there were more cancelled then ones that stayed active.Maybe I'm wrong but I really do think Kmart is going to regret this?

Posted: Thu Oct 23, 2008 11:14 am Post subject:

I don't like the idea of the fees, not in this economy....both the $5.00 and $10.00 can be used to buy food, which is a necessity.

Joined: 05 Jul 2008 Posts: 37

Third Time Back has a valid point. Alot of layaways are not picked up and very few are paid on time. Alot of times we would have people come in and had bought something they put on layaway for cheaper at Wally world. They want to take the item out but you cannot take one item out. Or another one is they see several items on clearance after several weeks in layaway. They pay the layaway off go up to the service desk and refund it and then go buy the items at clearance..And a more common experience is the people who do not make one payment except the initial one and then they come in closer to pick up and want it. And the language used is bad. Walmart in my town, had so many layaways they had to rent storage at an outside building. (That is where it is not cost productive because they actually would rent empty store fronts for a couple months.) They also had the same problem with people not paying on time. People know that not paying on your layaway is not going to end up on your credit report. And there seems to be no stigma attached to not paying on debts like a layaway. Some people use it correctly and it is a great way to afford things if used within one's budget.

Joined: 20 Apr 2005 Posts: 1068

I'd be scared Kmart would go out of business before I could get my stuff.

Joined: 04 Mar 2008 Posts: 136

Posted: Fri Oct 24, 2008 12:06 pm Post subject:

If I'm right, it will be Kmart first...then a few months early into next year...Sears will get the ax. Ole Eddie will get his parachute and the rest will get the shaft as always. It's a total shame when the rich contine to dump on the poor who really do work hard and have nothing or hardly nothing to fall back on. Naughty!

Joined: 19 Oct 2003 Posts: 2625

S-hole..........$48.00 a share.......Gee whats wrong? short selling pains? Surprised

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