Layaway is a very simple transaction: you pick out an item, a store puts it aside, and you make payments on it until you’ve paid it off and you can bring it home. It was a dying retail tradition when tightening credit markets and a massive recession led stores, notably discount retailers Kmart and Walmart, to bring it back. This year, Kmart wants customers who may no longer have a local store to use layaway plans to buy holiday gifts. [More]
