I haven’t had anybody here on Bonanza use it – but I have a coupe going at my other stores – and it has been working well.

I am fairly flexible and it allows buyers to gain something that may take them a little more time to pay for.

I try and offer as many payment methods as I can – especially leading upto Christmas sales and afterwards

As to whether it has increased sales – hard to say – but I guess those customers would not have bought if they hadn’t been able to layby the items they did.

Jules

I have used it here on Bonanza once. It was helpful for the buyer as the item was over $300 and was paid for in 3 installments. The buyer chose to use Paypal. Layaway using Paypal requires you to put the item on reserve and keep a tally of the payments until paid in full. At that time, you need to mark the item sold via Money Order so Bonz gets their FVF. A word of caution when using Layaway, if the person pays with the on-line payment agencies (Paypal,etc.) you will have a PP fee each time a payment is made (in my case 3 fees). Make sure you account for that when pricing the item.

Good question ! Thanks for the info.

I have had a few customers use a layaway plan. It works well, just make sure you can track the payments. It allows people to buy expensive items that they could not afford to purchase if they had to pay in full. And the customers are people I’ve sold to before.

I haven’t used it here yet but am thinking of setting it up. When I was with another market place I sold a $300 item that way and in my brick and mortar mall I use it. As the others have stated, it is a nice way for someone to purchase something that they can’t justify putting on credit or can’t buy outright. I have used a $100 minimum and have never had anyone default. The nice part is that legally you are entitled to the payment that are made if your buyer defaults. I see it as a win win for buyer and seller alike!