Layaway: The New Frugality Meets an Old Idea
Mercator Advisory Group announces:
New research examining the resurgence of layaway programs
Boston, MA - December 18, 2012 - As
consumers continue to adjust their payment patterns in the wake of the
Great Recession, major retailers' layaway programs appear to be gaining
new traction during the 2012 holiday shopping season. Programs are attracting consumer interest beyond the demographic segments traditionally associated with layaway. The
much-discussed "new frugality" of post recession consumers suggests
that delayed purchasing gratification is not just a required virtue for
some consumers; it may have new acceptability as a credit alternative.
layaway become a fixture of the retail environment beyond today's
post-recession environment, perhaps on a year-round basis? Consumers'
cautious use of credit cards suggests discipline-focused layaway
programs can have relevance today, especially as they overcome any
downscale stigma they might retain from past incarnations. Layaway
transcends our usual categorization of payments as pay-now/ pay-before/
or pay-later. This pay-before/over-time product may just replace some
traditional credit card volume this holiday season, and perhaps beyond
it.," comments Ken Paterson, VP for Research Operations at Mercator Advisory Group and the primary author of the report.
report reviews major retailers layaway program offerings in the context
of consumer interests, and explores its potential for future growth.
Highlights of the report include:
- Discussion of the consumer appeal of layaway
- Demographic profile of users of layaway services
- Layaway's benefits to leading retailers
- New merchandising opportunities beyond the traditional holiday season, especially for e-commerce retailers
One of the nine exhibits in this report:
This report is 22 pages long and has nine exhibits.
Companies mentioned in this report include: Walmart, Kmart, Toys "R" Us, Best Buy, elayaway.com, lay-away.com, Sears
of Mercator Advisory Group's Credit Advisory Service have access to
this report as well as the upcoming research for the year ahead,
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