Kmart, Sears launch new leasing program for holiday season

HOFFMAN ESTATES, Ill. — Kmart will kick off the holiday shopping season by launching a new lease-to-own program in time for Black Friday, the massmerchandise retailer said Tuesday.

Kmart said it would launch the program through Whynot Leasing and make it available nationwide starting on Nov. 22. Sears, also part of parent company Sears Holdings, also is launching the program, making it available for more than 95 million items via Sears Marketplace, including electronics, home goods, jewelry and tools, as well as major brands and boutique items.

"This year's holiday season is about savings and creating seamless shopping experiences for our Shop Your Way members, so we're relentlessly focused on delivering a world-class integrated retail shopping platform that delivers on these benefits," Sears Holdings EVP and president of online, marketing, pricing and financial services Imran Jooma said. "Sears and Kmart are committed to helping members and customers find convenient and affordable ways to shop, without letting the joy of the season become overshadowed by stresses like financial concerns."

Members of the Shop Your Way loyalty program, whom the company said account for 65% of its sales, can access their benefits through a mobile app, which includes a new feature called Shop'In to help members save more during the season by checking in while shopping to access sales and load coupons to their smartphones. Other features include eCoupons, layaway, pay-in-store and Free Anyone, Anywhere Pickup, which allows friends or family to pickup items.