For the second year in a row, Wal-Mart Stores Inc will begin its holiday layaway program two weeks early, hoping for a head start to the year-end shopping season and a repeat of last year's strong toy sales driven by "Star Wars" products. Layaway programs, which let shoppers pay for holiday gifts in instalments, tend to have a big impact on sales. Analyst estimates suggest the program may account for as much as 15 percent of holiday revenues at Wal-Mart stores in poorer areas of the United States.
The world's largest retailer is starting the layaway program on September 2 and like the previous year, customers can pay as little as $10 to hold items worth a minimum of $50.