Christmas has come early this year, at least for certain shoppers who want to buy any of a long list of toys that will be released in the next few months. As it tries to get large market share of the sales of these, Wal-Mart Stores Inc. (NYSE: WMT) has set up a new layaway program for buyers of the toys. These sales also will be an indicator of whether holiday sales at Wal-Mart in general may be strong.
Holiday sales do present the lion’s share of sales, and more importantly profits, for retailers. Wal-Mart’s U.S. sales have been worrisome for the past several quarters and the future of those sales has caused worry. Anything that can help the world’s largest retail chain might at least steady the trend, or even improve it.
Wal-Mart management understands that some of its customers need financial help as they shop. The toy program is designed to offer that. As part of its sales promotion:
Toy Week also includes the Aug. 28th launch of Walmart’s holiday layaway program, a full two weeks earlier than last year. New this year, the company has lowered the price for eligible items to $10 with a $50 minimum basket. There is no opening fee for customers to start a layaway account, and they only need to put down 10 percent. The last day to pick up layaway items is Dec. 14.
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The list of toys is long, but it includes several anticipated hits:
It’s one of the most anticipated toy releases in years, and Walmart is the place for customers, fans and collectors from across the galaxy to be among the first to get their hands on new Star Wars: The Force Awakens merchandise, including items only sold at Walmart. Customers can also visit Walmart.com today to preorder the Legendary Yoda. The excitement begins at 12:01 a.m. on Friday, Sept. 4 at Walmart.com and at midnight Force Friday events in 2,900 Walmart stores across the country. To find Force Friday events happening in your neighborhood, visit walmart.com/starwars.
Presumably, the launch also will help the movie’s producers with the film’s massive production budget.
The promotions include several other popular toy lines: Future Foodies, Veterinarians in Training, Adventure-Seekers in the Making and Dreaming Design Stars.
Wal-Mart needs the program to be a success for, among others, investors who believe the company’s future is bleak.
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