I have to laugh at some of the national retailers making a big deal about how they re-instituted layaway.
Home of Economy has had layaway for as long as I've been around. We think long and hard about taking away a service that our customers need.
Layaway isn't a cheap service to offer. The biggest cost is what to do with the products if someone doesn't pick up the products. A lot of the time the season for those products (toys at Christmas for example) is past and we wind up selling the products for a discount.
On the other hand it's a service that many of our customers have appreciated over the years and we've never been willing to tell them no.
The actions by these national retailers show that we've been right all along.