Layaway Plans

Toys R Us announced on Oct. 19, 2009 that it would begin offering layaway on big-ticket items such as bikes, battery-powered vehicles, outdoor play equipment, baby and toddler furniture, doll houses, ride-on toys, ,play kitchens and so on. While the new program comes just in time for the holiday season, the inclusion of baby strollers, car seats and other gear makes it sound like the chain retailer is thinking of layaway as an option year-round for baby showers and other consumer needs.

People using the Toys R Us layaway program, which is also available at Babies R Us, must put down a deposit equal to 20 percent of the item’s price, including tax, and also pay a $10 service charge. Additionally, if a layaway purchase is cancelled by the customer, he or she will be assessed a $5 fee, apparently in addition to the service charge.

Items must be paid off by Dec. 6 to ensure they can be picked up by Christmas.

Toys R Us is advertising its layaway program as intended for “The Big Gift.”

On Nov. 18, 2009, Toys R Us announced that beginning Nov. 22 it would expand its layaway program to include video game hardware such as the Nintendo Wii, XBox, PlayStation and other systems.

“Since the introduction of the ‘Big Gift’ layaway last month, the number one request we’ve received from customers is to expand the program to include video game hardware, and we’re responding by providing more convenient payment options for these items,” stated Jerry Storch, Chairman and CEO, Toys”R”Us, Inc., in a press release.

In May 2010, Toys R Us launched a Christmas Savers Club, promoting it as an alternative to layaway (which is still available) since shoppers don’t have to decide ahead of time what they want to purchase. For consumers who have a hard time saving, the Christmas Savers Club is a way to make sure there is enough money set aside for the holidays, and as a bonus, Toys R Us will automatically add 3% to the card (up to $75). You sign up for the card, add value to it whenever you’d like (at a Toys R Us register), until Oct. 16. The card can’t be used until Oct. 31. And be sure to save your deposit receipts, because if your card is lost it’s the only way to prove you had money on it.