Sears Launches New Payment Option
With people still reluctant to use credit cards, Sears hopes to increase consumer borrowing by rolling out a new payment option called the Sears Monthly Payment Plan.
The plan will allow people who are leery of unexpected finance charges to make purchases with a fixed, low annual percentage rate, and payments that extend over 48 months.
Sears, which also offers customers layaway options as well as its Sears-branded card, says it wanted to offer credit-shy customers more financing options. "The monthly payment plan is a smart shopping solution that makes it more affordable for customers to pay for large purchases," it says in its release. It claims the new plan now gives it more payment options than any other major appliance company.
The Hoffman Estates, Ill.-based company says it will introduce shoppers to the plan with a national ad campaign, including a TV spot featuring home appliances, as well in-store circulars.
The option is available on purchases of more than $750.
Target is also looking at ways to encourage shoppers to use more financing. Last week, the Minneapolis-based retailer said it would give shoppers using their Target Redcard 5% off nearly all purchases, either in-store or online.
Separately, Sears says it is also urging both its Sears and Kmart Christmas Club customers to activate their cards before Oct. 31, to encourage early shopping. Those who do so will get an additional 3% award -- up to $100. Christmas Club accounts can also be used to pay off layaway balances, as well as online purchases.
Recent Marketing Daily Articles
-
Miller64 Partners With Former Pro Athletes May 20, 10:30 p.m.
Miller64 is launching "GO64," a summer-long initiative that will include local events, celebrity appearances, giveaways and ... -
Vespa Looks Back: 50 Years Of 50cc's May 20, 4:36 p.m.
Vespa has been tooling about since the ’40s, and sidelining as a movie star since the ... -
Skyy Launches 'Be Part Of The Art' May 20, 4:22 p.m.
To support the debut of its new Skyy Infusions Moscato Grape variety, Skyy Vodka has launched ... -
Industry Satisfaction Lagging, But Improving May 20, 4:02 p.m.
For the first time in years, the telecom industry is seeing improved customer satisfaction scores. But ... -
OMMA Social: Macy's Looks To Social For Connection May 20, 3:25 p.m.
Macy's is using social to connect with customers. That, said Jennifer Kasper, VP of digital media ... -
4 Types Of Marketing Cultures: How Fast Is Yours? May 20, 9:16 a.m.
Marketers everywhere may be talking about creating a fast-moving culture of innovation, but most CMOs will ... -
United Expands Loyalty Program To Businesses May 19, 10:13 p.m.
United Airlines is launching the MileagePlus Small Business Network, the first U.S. travel loyalty program that ... -
Champs Taps Westbrook For Ad Push May 17, 4:52 p.m.
When it comes to a spokesperson deal, if you’re a star athlete you don’t necessarily have ... -
Strategic Vision: Domestics' Strong Showing In Quality May 17, 4:47 p.m.
For several years there has been convergence in the automotive market. No, we're not speaking of ... -
Athenos Unleashes 'Cooking With Yiayia' Campaign May 17, 9:48 a.m.
Julia Child she isn’t, but Yiayia brings her own, trademark irascible appeal to a new series ...
Be the first to comment on "Sears Launches New Payment Option "
Leave a Comment