Kmart Broadens Fulfillment Services For Shop Your Way Members
By Megan Zielinski, contributing writer
Kmart ‘Shop Your Way’ customers can now “Pay In Store” by browsing products online and pick them up in a local Kmart store. In addition, Shop Your Way members may cash personal checks up to $500, and payroll and government checks up to $2,000 in-store with only a charge fee of $1 or less, an exclusive members-only service providing the convenience of cashing checks directly from where they shop at an affordable rate.
Companies such as Kmart, Walmart, and smaller convenience stores such as 7-11, are among the estimated 13,000 cash-checking outlets in the country, cashing over $80 billion worth of checks for customers each year. Up to 90 percent being payroll checks at the average amount of $500-$600, while the remaining percent is from personal and government checks. More than 30 million people cash checks at retail services with more than 180 million checks processed yearly. The in-store services appeal to lower-and middle-income workers, who does not have a bank account and lives paycheck to paycheck. Nearly 13 percent of families in the U.S. do not keep a checking account.
The $1 or less check cashing fee is an addition to other savings opportunities offered by the retailer. Customers of Kmart and Sears can take advantage of money-saving services such as the layaway program, available in-store and online all-year-round. Shop Your Way members are except from having to pay a service fee of $5 for an 8-week holding period or $10 for a 12-week period, along with a bonus of 10 percent off of Layaway products purchased online. Through Layaway, customers add items to their online or in-store cart, make a down payment on the spot, bills are spread out every two weeks for 8 to 12 weeks, and upon last payment, all reserved items are ready to be picked up in-store or scheduled for pick-up online at their local Kmart. This budget-friendly service is a favorite of families looking for back-to-school clothing, spreading out payments months before classes begin. With the Kmart leasing service, customers can immediately take home and enjoy merchandise, with no credit required. Customers must be leasing select items from the home electronics, entertainment, appliances, sporting, outdoors, lawn and garden, furniture, and household departments—costing $150 and up. The lease program offers shoppers fast approval, affordable payments, and a flexible payment plan. Customers have the option to continue to rent items, return to leasing company, or pay off and claim items. Shop Your Way members benefit from the program, earning points toward more rewards on every product they lease. With Pay In-Store, customers browse and hold items online for pick-up and purchase at their nearby Kmart store. For large items, customers pay in-store and schedule to have items shipped to home. Products must be picked up within a 24-hour time span from placing online reservation.
Earlier this month, Kmart announced its free Store Pickup service—integrating Sears.com and Kmart.com together—conveniently allowing Shop Your Way members to order online from either site, choosing to pick up items at any of the 2,000 Kmart or Sears locations.
"At Kmart, we know that every dollar counts," said Jai Holtz, vice president, financial services, Sears Holdings. "We're giving our members more savings so they can keep more in their pockets. We know our members will love only having to pay $1 or less to cash their checks."