Toys R Us Launches New Layaway Program to Save Christmas 2009

Toys R Us Inc today announced a layaway program for its Toys "R" Us and Babies "R" Us stores just in time for the 2009 holiday season.

Customers can put large ticket items on layaway for a $10 fee plus 20% down and then can make payments in the store at any time in the form of cash, check, credit card, debit card or gift card.

The Toys R Us layaway goods will be made available within 7-10 days of final payment. To get your goods in time for this Christmas, your items must be paid for in full by December 6th, 2009.

The Toys R Us layaway program only applies to "big gift" items so I don't think its helping out those that need it most but it still seems like a nice nod to customers who are already stressing about Christmas gifts.

Items that will be eligible for the program include:

Big Gifts For Kids:Toys "R" Us Stores

• Bikes
• Battery-Powered Ride-On Vehicles
• Dollhouses
• Play Kitchens
• Outdoor Play Equipment and Playsets, including metal gym sets, wood gym sets, trampolines, houses, teeter-totters and climbers
• Pools and Water Slides
• Preschool Ride-Ons, such as cozy coupes, horses, metal tricycles and wagons
• Basketball Systems
• Karaoke Machines
• Keyboards and other Musical Instruments for toddlers to teens
• Televisions
• Indoor Table Games, including air hockey, foosball and table tennis

Big Gifts for Babies: Babies "R" Us Stores

• Car Seats
• High Chairs
• Play Yards
• Strollers and Travel Systems
• Bassinets
• Infant and Toddler Furniture 

Sears and Kmart also offer layaway programs and you can actually put the merchandise on hold online and then pick it up in store. Their layway terms are:

Sears:

$5 charge and $15 or 20% down (whichever is greater), bi-weekly payments are required until the item is paid off.

Kmart:

$5 charge and $15 down or $10 of item (whichever is greater), bi-weekly payments are required until the item is paid off.

Wal-Mart had a layaway program but did away with it a few years ago and despite the desperate pleas from customers has yet to revive it. We'll see if the Toys R Us layaway announcement moves Wal-Mart's position at all.