Toys-R-Us is gearing up for the holiday shopping season, but with the economic outlook so uncertain, the store is making some changes - it's offering free layaway.
The toy store plans to waive its $5 up-front fee for layaway items though the end of October.
Shoppers have to make a 20 percent down payment, which is normal for Toys-R-Us, and then pay the full total by mid-December.
The store's descision to alter its layaway program could not have come at a better time, especially after this month's poor job report.
As the economy continues to worsen, the amount of Christmas gifts children may be used to seeing will more than likely be at a lower number due to the increasing number of parents out of work.
However, like most offers that seem too good to be true, even Toys-R-Us has to input some fine print that goes along with the offer.
The free layaway only applies to products like toys and video games, not clothing, diapers or holiday items.
Layaway has been around for years but has become popular again because of the recession, and many retailers are continuing to offer it because consumer spending hasn't returned to normal levels.
A 2011 consumer search survey found that more than 40 percent of shoppers planned to use layaway to purchase gifts during last year's holiday season.
With the economy still struggling, that trend is expected to hold through this holiday season.
Toys-R-Us isn't the only retailer temporarily changing its layaway program. Last month, Walmart announced that it would expand its layaway program to include more items and extend the program's time frame.
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