Wednesday, November 12, 2008

Back to Basics: Return of an old friend

~ Michael Bilello, senior vice president of business development at

A favorite friend of shoppers is making a comeback. Our good friend lay-away is back in business. Tough times have ushered in a frugal mentality when it comes to shopping these days. In our current financial crisis, people aren’t splurging like they use to. Stereotypically, less affluent shoppers where once the poster children for lay-away. Many stores ditched their lay-away programs because they wanted to appear more upscale. It’s actually ironic if you think about it. Our current financial depression brought back a retail program that was birthed in our 1st Great Depression.


uglyblackjohn said...

I always buy on lay-a-way (although a different form). I save my money in a bank until I have enough to buy the item at a latter date (at a sale price).
Lay-a-way IS a good primer for only buying for what one can afford.

Anonymous said...

I am all for layaway. I am sure credit is the downfall for many people. Hooray for Layaway is what I say. Bring it back!!!

NCCU Alumni said...

I was telling my friends weeks ago that layaway is coming back! If you can "name tag" your good and come back to claim them with a pre-pay plan at no interest, is priceless!

Dr. Tracey Salisbury said...

LOL! I love the picture! The comeback of layaway made me feel old!

Anonymous said...

Laudy child,
Black folks survived on layaway and monthly accounts paying for grocery.
Thank GOD!!!

Citizen Ojo said...

Wow... This is a nostalgic post. Folks are talking about Lay away like an old friend.