This Retail Trend is Making a Comeback Thanks to Star Wars
There are two types of people in this world: those who do their Christmas shopping early, responsibly leaving time to find the perfect gift for each person and budgeting accordingly… and then there’s the rest of us, who stand wide-eyed and panicked in a Walmart line on Christmas Eve buying stale boxes of chocolate for the kids’ grandparents.
As it turns out (to my utter surprise), the former group of people do exist and account for 40% of Americans who start to shop for Christmas before October. October. That’s next month, guys. In order to make some big money this holiday season, two of the most prominent children’s toy influencers have collaborated to bring back one surefire retail tactic: Layaway.
“40% of Americans who start to shop for Christmas before October”
Remember layaway? Your parents probably do – paying in installments for that one big toy that steals the affection of every kid each year.
This year that toy will be the Star Wars merchandise, which comes along with the next movie hitting theatres just a week before Christmas. It’s no new idea that movie franchises release right before the holidays to get their slice of the toy industry cash, currently growing 9.4% year-to-year.
“Ultimately, layaway programs seem like a great way to get people to pull the trigger on purchases instead of mulling them over at length” writes Dan O’Shea for RetailDive.
This time, Walmart’s not alone – other retailers that carry Kids, Baby and Toys stock like Kmart and Toys R Us are adapting the technique in response to the market change.
What are you doing to get ahead of the Christmas rush? Let us know in the comments!
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