Answer: Credit, the magic answer to every economic question that families now have. We are a nation of infants. If you don't have it but you want it, why wait? There is an old song, never more true than today: Dollar Down and a Dollar a Week.
Credit card debt in the US per household is around $6,500. Over half of all households have the ability to pay their charges in full each month. The total amount of debt carried is around $500 Billion dollars, which if you include that which is paid of each month (not an issue as non-interest paying, unless you can't pay) of $1 Trillion dollars. Auto, $27,000, student loans, $46,000.
Any type of debt combined (revolving or lines of credit, second mortgages and everything else you want to dump in) $132,000 per household, or $13.5 Trillion dollars in US consumer debt.
While I think the days of layaway have passed, I agree with you that it would in fact be better than the debt load we now carry. At least then you're not paying interest and get the item when you pay it off, rather than what we have now and instant gratification.