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Sears, Kmart jump on layaway bandwagon by waiving fees
Hoffman Estates, Ill. -- Sears Holdings Corp. said Friday that both its Sears and Kmart banners would waive layaway fees for the holidays, allowing shoppers to open interest-free pay-over-time programs at both stores and online with no customary initial fees. Kmart’s program will run through Nov. 17, but Sears Holdings had yet to set a timeframe for its namesake stores.
In the past, Kmart and Sears have charged $5 for an eight-week layaway contract and $10 for the 12-week program.
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Kmart joins trend of cutting layaway fees
HOFFMAN ESTATES, Ill. — The trend of doing away with layaway fees continues, this time with Kmart announcing that it has removed its layaway service fee both in stores and online through Nov. 17.
The retailer follows suit with Toys"R"Us, which said it would drop the $5 upfront service fee and eliminate the minimum purchase requirement for all orders created in stores through Oct. 31 and Walmart, which, while not cutting back its layaway fee, has rolled it back to $5 from $15.