I used to use the Walmart layaway every year. I have 5 children (3 are now grown with children of their own). It was not only a great way to get the shopping done early, then slowly pay it off, but a way to hide all the goodies from the little snoops. As a family, our income was $110K. Now, however, I find myself as a struggling single mom. The layaway became a necessity 3 years ago. I spent about $500 @ Walmart every Christmas season. However, this year, that went to Kmart. If you multiply that figure by even just the small percentage of people I am seeing on this site that says they are dumping Walmart in favor of Kmart because of the layaway...Walmart is losing MILLIONS this season! The powers that be at the Walmart corp. should stand up and take notice, then FIRE the execs that made the initials decision to discontinue this program. I am sure Sam Walton is rolling in his grave over this.
I know that layaway can be a nightmare for stores. But if you want consumer loyalty you have to LISTEN to what people want and need and try to accomendate.
We are in a recession, prices on everything is up. People will go where they can to save, or at least make it affordable. This season will NOT put Walmart out of business, and I doubt it will hurt the overall bottomline. But the WILL lose MILLIONS to a competitor. And any company that knowingly does that is just plain stupid.