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Buy now, pay later is the new layaway: What are the pros and cons?
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Strong fall retail sales indicative of good holiday season: Market analyst
Wedbush apparel and footwear research analyst Tom Nikic and Prosper Trading Academy CEO Scott Bauer discuss positive retail and market numbers.
When Walmart announced it was ending its layaway program for the majority of its store categories in favor of a buy now, pay later format, social media users expressed their confusion and sadness with nostalgic tweets.
Retail experts and financial lending providers aren’t surprised by the shift. In fact, some are even saying that buy now, pay later is the new layaway.
WALMART DITCHING LAYAWAY OPTION FOR 2021 HOLIDAY SEASON
"Consumers increasingly want to be able to take home their purchase right away, and then pay for it in installments," Floris de Kort from Xplor Technologies told FOX Business. "Buy now, pay later means they can do just that, and need no longer wait for their purchase to be fully paid for, before they experience their product or service."