In its second-largest acquisition, Amazon buys the company for $970 million.
New online catalog provides extended terms through Bill Me Later and store layaway.
Toys ‘R’ Us Inc. has launched new extended payment terms for web and store shoppers looking to get a jump on the holiday season’s hottest new toys and products from Toys ‘R’ Us and Babies ‘R’ Us.
Web shoppers at ToysRUs.com and BabiesRUs.com can take advantage of a limited-time Bill Me Later offer to make flexible payments over time as an alternative to a new in-store layaway program. Toys ‘R’ Us began its store layaway program in 2009 that covered bigger-ticket items such as bikes and swing sets.
In the new offering, online shoppers can opt for a plan with no payments and no interest if purchases over $100 are paid in full in six months, or a plan with no payments or interest if paid in full in 12 months for purchases over $500. Approved new Bill Me Later customers can save $20 on purchases of $100 or more.
Toys ‘R’ Us, No. 29 in the Internet Retailer Top 500 Guide, also launched its first online catalog highlighting many of the gifts that can be put on layaway in stores nationwide, or purchased over time online using the Bill Me Later payment option. The online catalog highlights more than 30 products from swing sets to dollhouses, and includes $900 worth of savings on larger gifts including ride-on vehicles and play kitchens.
The discounts included the online catalog are available at Toys ‘R’ Us stores, and online at ToysRUs.com through Oct. 22.
The list of toys eligible for in-store layaway has been expanded to include many of the company’s products. Beginning Oct. 15, Toys ‘R’ Us will offer layaway on these toys in 450 of its approximately 600 Toys ‘R’ Us stores nationwide. Products at Toys ‘R’ Us Express and Outlet stores are not eligible.
The in-store layaway option gives customers 90 days to pay for their purchases. A 20% down payment is required and there is a $5 service fee. Payments can be made at the store where the order was placed at any time in the form of cash, check, credit card, debit card or gift card, but 50% of the total price of the order must be paid within 45 days, and the total price of the order must be paid within 90 days. In order to guarantee that items are available by Christmas, all layaway orders for toys must be paid in full by December 4.
“By expanding layaway to all toys in most of our Toys ‘R’ Us locations, parents can reserve any of the year’s hottest toys early in the season when selection is at its best, make a series of small payments over the next few months and have peace of mind knowing that they’re ready for the holidays,” says Neil Friedman, president, Toys ‘R’ Us, U.S.