Layaway revival shows value of giving customers more ways to pay

09/28/2011 | Harvard Business Review online

Customers might stay away from products they want if they don't like the payment options available to them, so consider adding new ones to attract more business, consultant Rafi Mohammed writes. For example, retailers such as Walmart have resurrected layaway, a payment plan in which customers pay for products in installments, to attract customers who might not have access to credit.

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