In 1962, when Sam Walton founded Wal-Mart, he started the ‘layaway service’. 
This meant that the chain catered to shoppers who were cash-strapped, who didn’t have credit cards: The deal was that the shopper could make a nominal down payment, and then get 60 days’ time to pay the rest of the amount. Wal-Mart Stores recently announced that it is going to scrap this tradition – due to falling demand and rising costs. Starting November 19 this year, the layaway service will be terminated.
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
This meant that the chain catered to shoppers who were cash-strapped, who didn’t have credit cards: The deal was that the shopper could make a nominal down payment, and then get 60 days’ time to pay the rest of the amount. Wal-Mart Stores recently announced that it is going to scrap this tradition – due to falling demand and rising costs. Starting November 19 this year, the layaway service will be terminated.For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
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