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.