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Toys "R" Us and Walmart battle for layaway dollars
Toys "R"Usenhanced its layaway program by dropping some fees and Walmart quickly responded.
Toys "R" Us dropped the $5 service fee and minimum purchase requirement from its layaway program in a bid to capture sales of those who begin their holiday shopping early.The company said it changed the rules for its layaway program, instituted in 2009, to waive the $5 upfront service fee and eliminate the minimum purchase requirement for all orders created in stores through October 31.
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Wal-Mart slashes holiday layaway fee in response to customer complaints
Bentonville, Ark. -- Wal-Mart Stores said Tuesday it has lowered its holiday layaway fee from $15 to $5, saying that the move is in response to customer feedback.
Customers may begin to open layaway accounts under the new fee arrangement on Sept. 15, and it runs through Dec. 14.
According to Duncan Mac Naughton, chief merchandising and marketing officer, Walmart U.S., “this is a direct response to feedback we received since announcing this year's Holiday Layaway program. [It] makes Walmart more competitive in the marketplace.”