This Christmas season, to much fanfare, Walmart brought back their layaway program. For those Internet intellectuals among us too rich and separate from the ails of the working man to understand the incentives behind layaway plans, let me explain the concept. By purchasing an item on layaway, you select your item, put down a deposit and make regular payments until the item is fully paid off - without interest. Only then are you allowed to take the item home. ...wait, what? Yes, that's how layaway plans work. There is no "getting the item" early advantage as with a credit system. So, we are left with only 2 possible benefits for those participating. 1) Fear of the item running out of stock. Putting the item on layaway guarantees you securing the item once you are able to fully pay for it. However, unless the item in question is a hot Christmas toy, Walmart largely sells commodities. In the majority of scenarios, there is no real fear of the item going out of sto...
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