Nov. 18--The ghost of Christmas Past is visiting this year, and he's at the layaway counter.

Sears announced layaway's return Sunday, Kmart is promoting it in TV commercials and other retailers are ready and waiting for cash-strapped customers as they anticipate the worst holiday sales in years. The practice had been largely abandoned in recent years.

The economy is driving the layaway buzz as shoppers scale back purchases and retailers scramble.

"Families are going to be really strict with their dollars," National Retail Federation spokeswoman Kathy Grannis. "If they can spread out their expenditure over an eight-week program, that's all the better for a retailer who is trying to get more customers into their store."

Central San Joaquin Valley retailers offering layaway include Sears, Kmart, Burlington Coat Factory, TJ Maxx, Marshalls, Fashion Bug and Fresno-based women's clothing shop I Cee Fashions. Big Lots offers layaway on furniture.

Sears began offering layaway after seeing the strong response at Kmart. Both chains are owned by Sears Holdings Corp. The store now offers layaway in all departments except home appliances and home electronics.

Layaway policies vary by length of the contract and the required down payment.

Kmart charges a $5 service fee, plus a 10 percent down payment for an eight-week layaway period. Burlington Coat Factory requires a $5 service charge and 25 percent deposit and has a 30-day layaway period.

Layaway, popular during the Great Depression, had been abandoned by some retailers over the years as shoppers turned to credit cards, Grannis said.

Wal-Mart ended the practice in 2006, citing declining use and rising costs.

But this year may see the reversal of that trend.

"Retailers seem to have sealed their lips about the numbers, but it appears there is an increase," said Ludwig Bstieler, associate professor of marketing at the Durham, N.H.-based University of New Hampshire.

There's a need for it, said Tony Gao, a marketing professor at Boston-based Northeastern University.

Times are tough.

The retail federation predicts a 2.2 percent rise in holiday sales this year, the lowest since 2002. Another organization, America's Research Group is forecasting a 1 percent decline in sales compared with last year -- the first negative prediction in 23 years.

"The economy is very different now," Gao said. "Some people may have accumulated a lot of credit card debt, and they don't have a usable line of credit anymore."

Others may be saving their available credit for emergencies, he said.