Kmart is making its famous No Money Down Layaway program available for the summer. What has normally been a winter/holiday event has turned into a chance for Kmart customers to purchase items (both in store and online) such as furniture, home goods, clothing and toys all year long. There have been a few changes in the program and with 20 locations in the state of Georgia (none in metro Atlanta) the chance to get a head start on shopping for high school and college graduations, Father's Day and summer activities for the kids in our lives. Below are some pluses and minuses of the new Kmart layaway program. Kmart (and competitor Sears) are currently the only major retailers that offer layaway online and in-store year-round.
The layaway program only applies to contracts/purchases under $750 with no minimum purchase. There is no down payment required in-store while there is a one cent minimum down payment required for online purchases. Kmart now requires a service fee for either of the layaway contracts being offered; the 8-week and 12-week contracts (the 12-week contract can only be initiated in Kmart stores) require bi-weekly payments. The aforementioned service fees are $5 for the 8-week contract and $10 for the 12-week contract. There is a cancellation fee and a 7-day grace period after the bi-weekly payment due date. Kmart Director of Marketing-Financial Services Ken Bennett believes the program is a customer-friendly advantage for the 117-year-old retail giant. "Kmart is making shopping fun again; by bringing back our No Money Down Layaway, we can help families plan for what they need to get the house and yard ready for the summer."
The layaway program makes buying big ticket summer items like a Propel trampoline with enclosure ($299.99) or the Intex Pool Set with filter pump, ladder, ground cloth cover and instructional DVD ($379.99) a lot easier on a traditional family income. With Kmart's new mobile app, layaway is even available on the go. "This makes Kmart layaway the most accessible program in the market," said Bennett.
The Spalding NBA 48" Pro Glide Portable Basketball System ($269.95) makes for a great graduation gift idea for the young athlete(s) in the family and the 26" Huffy Deluxe Ladies Cruiser Bike ($169.99, assembly required) can be Mom's alternative to driving this summer and a great way to get exercise in the process.
Layaway payments can be made online or at any Kmart store that holds your contract. "One of the benefits to shopping at Kmart is that you can literally shop when and where it's convenient for you," said Bennett. Sounds like a good way to start the summer.
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