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Tilted Cat Head
Administrator
Location: Manhattan, NY
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I just saw a Kmart commercial. Well it looks like KMart decided to revive the practice! The announcement and the rules follow.
Consumer Electronics | Clothing from Levi Strauss Signature & Jaclyn Smith | Home Decor Ideas from Martha Stewart Everyday | Kmart.com
Quote:
View: Kmart Touts Layaway for the Holidays
Source: Adweek
posted with the TFP thread generator
Kmart Touts Layaway for the Holidays
Kmart Touts Layaway for the Holidays
Oct 16, 2008
-By Steve Miller, Brandweek
DETROIT Kmart has launched a campaign that positions the company as the only mass discount retailer to offer a layaway service. The hope is to drive sales at Kmart stores this holiday season, as consumers search for penny-pinching options during the recession.
Print ads will break in November and broadcast spots will start airing this week. The ads feature Mr. Blue Light, Kmart's animated lightbulb, who promotes the layaway service as a way to get gifts at affordable prices in time for Christmas. The service allows consumers to place a deposit on a purchase and have the retailer hold it until a full payment is made at a later time.
"People are going to have to be very creative this year to get Santa to show up," said Terry Brophey, vp, integrated marketing communications at Kmart, Chicago. "And the whole campaign is based on promoting value."
The campaign, via Draftfcb Chicago, targets moms with household incomes starting at $50,000. In addition to the layaway option, ads tout Kmart's exclusively branded merchandise such as Jaclyn Smith apparel, Craftsman tools and Martha Stewart Everyday cookware.
A total of seven broadcast spots will air, which includes a major buy in cable (TLC and sports programming). Two print ads will run in decor, lifestyle and women's titles. Web banners will also run on Web sites offering consumers financial tips like Oprah's finance page and money wizard David Bach's site. Radio ads, where Mr. Blue Light explains the deals offered at Kmart, broke this week.
"We just wanted to really turn up the heat on our value message across the board," Brophey said, adding that the retailer will advertise 25,000 gifts under $25 and other deals, as part of the creative.
Kmart spent $160 million on ads last year, per Nielsen Monitor-Plus, and $85 million through July.
Laura Gurski, a partner at consulting firm A.T. Kearney, Chicago, said the layaway is a "brilliant" idea. "It's right for the time and it's right for the traditional Kmart customer," she said.
Rival Wal-Mart at one point also offered layaway to consumers, but phased out the service in 2006 because of declining use and rising costs, per the company.
Now with the current economic downturn, retailers stand to benefit from such services and analysts predict more advertising that promotes bargains.
"People cut back on general spending and they go from Neiman [Marcus] to Macy's and from Macy's to Target," said Rachael Croson, a professor of behavioral economics at the University of Texas at Dallas. "People are still going to spend this time [shopping]; what changes is where."
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http://content.kmart.com/ue/home/Kmart_Layaway.pdf
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Kmart Layaway Program
Layaway Fast Facts:
A Layaway contract is eight (8) weeks.
The Service Fee on all new Layaway contracts is $5.
The Cancellation Fee on all new Layaway contracts is $10.
The Service Fee plus Cancellation Fee, or 10% down payment (whichever is
greater) is collected when merchandise is put into Layaway
The bi-weekly payment schedule for all new Layaway contracts is 25% of the original
balance due.
As long as the payments are made on time, the merchandise will be held for you.
Layaway merchandise will be returned to stock seven (7) days after a missed payment.
If Layaway merchandise is returned to stock, you are eligible for a refund minus Service and Cancellation Fees for a one year period.
Note: Maryland layaway fee law is as follows:
Layaway is subject to a single non-refundable service fee after seven (7) days.
$1 service fee will be charged on total merchandise up to and including $500.
$5 service fee will be charged on total merchandise that exceeds $500.
Tax will be charged on the fee amoun.
Layaway merchandise will be returned to stock fifteen (15) days after a missed payment.
Unauthorized Merchandise
The following merchandise cannot be put in Layaway:
Beer, wine, and cigarettes
Flammable products and fuel
Food and other perishable merchandise
Live plants and horticulture
Oil and chemical based products
Photo Finishing and Portrait Studio pictures
Chemicals
Gas additives
Magazines
Paint thinner
Prescription drugs
Pool chemicals
Cellular phones and beepers
Personal Computers
Layaway Transaction Rules
You can use one or any combination of these acceptable payment options: cash, check, credit card (Sears card, Visa, MasterCard, Discover, American Express), debit card, Kmart Gift Card, Kmart Cash Card, coupons or EBT Cash (Note: EBT food stamps are not allowed).
New Layaway contracts cannot be created if you have other delinquent Layaways contracts.
No partial takeouts are permitted.
Person initiating Layaway must be the same person finalizing Layaway.
A picture ID is required for all new Layaways, pickups and refunds.
If you make a payment that is less than the minimum amount due; your
payment due date is not advanced to the next biweekly cycle. You are still obligated to fulfill the rest of the current payment balance before the system will advance your next payment due date.
Mail payments can only be made with a check.
Customers can receive only one price adjustment on advertised items within seven (7) days of the initial Layaway date.
No price adjustments are allowed on clearance items or Holiday merchandise.
Partial refunds will be completed when you come in for the final payment .
Note: Rain check (merchandise on sale but out of stock) and special orders can be put on Layaway only after the item arrives in the store.
Holiday Layaway Policy
All Layaway containing Holiday and Christmas seasonal merchandise (for example, Christmas trees, decorations, ornaments, gift box sets, lights, etc.) must be paid in full and picked up on or before December 5, 2008. After this date they will be returned to stock and subject to all applicable fees.
Home Electronics merchandise greater than $200 are excluded for Layaway after November 16, 2008.
No New Layaways will be accepted between December 12, 2008 and
January 2, 2009.
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