Headlines

Retailers Quietly Eliminate Layaway Programs

Finding success in buy now, pay later technology.

Published

3 years ago

October 1, 2021

INVISION Staff

Many retailers have been quietly shutting down their layaway programs, including big retailers such as Walmart (Bentonville, AR), reports CNBC.

The main reason for this move is that shoppers have a wider selection of online programs like After Pay (Melbourne, Australia) and Affirm (San Francisco) at their availability that allow them to purchase now and pay later over time. These plans are mostly interest free as well.

According to RBC Capital Markets, shoppers who use these programs will buy more items at a time, bringing incremental sales up to 20 to 30 percent per transaction.

Related Topics:Affirm After Pay retail Walmart

INVISION Staff

Since launching in 2014, INVISION has won 31 international journalism awards for its publication and website, including the prestigious Neal Award for Best Single Issue in 2019. In 2024, the publication celebrates its 10th anniversary of serving eyecare professionals. Contact INVISION's editors at editor@invisionmag.com.

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