Layaway: meaning, definitions and examples
๐ณ
layaway
[ หleษชษหweษช ]
payment plan
Layaway is a purchasing option that allows customers to make payments on a product over time, reserving the item for future collection. This method is often used for expensive items where customers may not have enough immediate funds. Once the total amount is paid, the item is released to the customer. It's a useful system for budgeting and can help prevent impulse buying. Retailers benefit as it ensures sales while the customer benefits by securing their desired product.
Synonyms
credit plan, installment plan, payment plan.
Examples of usage
- I put the new furniture on layaway.
- They offer layaway options for their holiday sales.
- I can use layaway to save for my new TV.
- The store allows layaway for items over $100.
Translations
Translations of the word "layaway" in other languages:
๐ต๐น layaway
๐ฎ๐ณ เคฒเฅเคตเฅเคตเฅ
๐ฉ๐ช Layaway
๐ฎ๐ฉ layaway
๐บ๐ฆ ะพะฟะปะฐัะฐ ัะฐััะธะฝะฐะผะธ
๐ต๐ฑ layaway
๐ฏ๐ต ใฌใคใขใฆใงใค
๐ซ๐ท layaway
๐ช๐ธ layaway
๐น๐ท layaway
๐ฐ๐ท ๋ ์ด์ด์จ์ด
๐ธ๐ฆ ุงูุชูุณูุท
๐จ๐ฟ layaway
๐ธ๐ฐ layaway
๐จ๐ณ ๅๆไปๆฌพ
๐ธ๐ฎ layaway
๐ฎ๐ธ layaway
๐ฐ๐ฟ layaway
๐ฌ๐ช layaway
๐ฆ๐ฟ layaway
๐ฒ๐ฝ layaway
Etymology
The term 'layaway' originated in the United States during the 1930s amidst the Great Depression, as a way for consumers to purchase goods they couldn't afford upfront. Retailers implemented this payment method to attract customers who were struggling financially but still wanted to buy luxury items. The concept allowed consumers to make smaller payments while securing their desired items. By the 1950s and 1960s, layaway became a common shopping strategy in many department stores. It provided a way to accommodate shoppers during times of economic uncertainty. While layaway began to decline with the rise of credit cards in the late 20th century, it saw a resurgence during financial crises when credit options were less accessible, proving to be a practical alternative for budget-conscious consumers.