Walmart Drops Layaway Fee

Walmart took the first swing of the holiday season in August by introducing an enhanced layaway program that, for the first time, carries no entry fee.The program launched on Sept. 13 and runs through Dec. 13, when participants must make their final payments. The mass merchant’s Facebook fans received a two-day head start, as they did last year. (See “Walmart Puts …” in Related Articles.)The retailer's Sept. 15 circular plugged the program on nearly every page, spotlighting a wide variety of eligible items spanning electronics, toys, jewelry, small appliances, select sporting goods, and two new categories: infant toys and automotive electronics. Overall, the retailer claims to have about 1,000 more qualifying items than in 2012.Walmart also is introducing tearpad slips for bulky items such as ride-on vehicles, basketball backboards and trampolines that let shoppers reserve the products without needing to carry them to the service desk.As in previous years, items must cost at least $15 individually and $50 cumulatively to be eligible. Walmart also has brought back a $10 cancellation fee (in most states) after eliminating it last year.In stores, floorstands provide program details, touting the service as “Backed by Ad Match.” (See “Walmart Gives …”) Security wraps, a seasonal page within walmart.com, and Facebook updates support.One day before the program’s launch, Walmart mustered additional excitement by releasing its annual list of hot toys for the season — all of which are eligible for layaway. This year, the retailer enlisted the help of 1,000 children between the ages of 18 months and 10 years to help curate a “Chosen by Kids” list. The top-20 items include brands such as VTech Electronics’ VTech; Mattel Inc.’s Hot Wheels, Barbie and Fisher-Price; and Hasbro Inc.’s Nerf, Furby and Playskool.The products will be merchandised together on special displays throughout the season, the retailer said in a media release. They also earned a dedicated e-commerce page at walmart.com/chosenbykids.In related news, on Aug. 24, Walmart began accepting pre-orders for two long-awaited video game consoles: Microsoft Corp.’s Xbox One and Sony Inc.’s PlayStation 4.

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