ELayaway, Inc., which specializes in providing retailers with online layaway services, released today its 2012 Online Layaway Trends Report in the form of a downloadable infographic. In addition to identifying and comparing both online and brick & mortar layaway programs, the infographic highlights the trends and user behavior of the company’s online layaway service, eLayaway.com.
The trend report was created from user behavior observed between 11/1/2011 and 10/31/2012; what eLayaway calls a Layaway Year. The offset provides a more accurate depiction of layaway use due to the pre-payment completion cycle unique to the layaway process.
Highlights from the report include:
- Online layaway appeals to a wide spectrum of consumers across several demographic segments;
- Electronics continue to be the most popular layaway category;
- November is the most popular month for starting a layaway;
- Layaway creates “shopping seasons” throughout the year;
- 63% of consumers pay off their “eLayaway” sooner than originally scheduled;
- Taking into account interest and fees, layaway is more affordable than credit.
The inforgraphic can be viewed at here.