It’s a sign of the times. As consumers shy away from making credit card purchases and running up debt, layaway programs at retailers like Kmart and Sears are making a resurgence.
But they aren’t alone. Now even some pawn shops are getting in on the layaway act.
Outside one Value Pawn and Jewelry shop in Tampa, Fla., a banner with Santa Claus, one of his reindeer and a Christmas tree proclaims “Layaway now for Christmas.” Put 10 percent down, and the purchase is interest free till the jolly old elf arrives.