Sears (re)joins the layaway revival

Nearly two decades after Sears discontinued its layaway plan, the pre-payment service will be available again starting Sunday for customers who want to put money down on items and get them later.

Where Layaway Reigns

Sears never fully left layaway completely -- it has been offering it for fine jewelry since 1989 -- but now it will be there for customers who want anything but home appliances and home electronics.

Why is Sears back in the layaway game? Have you seen the stock market ticker lately? As the economy sours and consumer dollars stay in their wallets, Sears is jumping on the return to layaway bandwagon with K-Mart, Burlington Coat Factory, Marshall's and TJ Maxx. Yet to return to layaway this holiday season: Toys 'R Us, Wal-Mart, Target and JC Penney.

WalletPop named layaway one of the most underrated things in America in a recent series, and also labeled it, "the new black."