Walmart Cuts Layaway Fee to $5, Follows Toys-R-Us Deal

Walmart said it will cut its layaway fee from $15 to $5 for the upcoming holiday shopping season.
The move by the largest U.S. retailer follows the announcement by Toys R Us that it will eliminate its $5  fee for layaways initiated in its stores through through Oct. 31.
Walmart customers who make their final layaway payment will receive a refund of the $5 fee on a Walmart gift card.
“Last year, they told us they wanted a holiday layaway program. We brought it back, and it was a success,” said Duncan Mac Naughton, chief merchandising and marketing officer, Walmart U.S.
Walmart’s Christmas layaway plan is available nationwide Sept. 16 through Dec. 14, giving families 90 days to make payments on a qualifying item.
Other retailers have brought back Christmas layaway plans during the Great Recession, since obtaining credit has become more difficult. Many consumers have also opted to pay down credit card debt during the sluggish economic recovery.
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