Christmas in August: Walmart to Launch Layaway Plan

Shoppers will have access to 40,000 items at the world's largest retailer.

— -- The calendar may still say summer but retail giant Walmart is encouraging consumers to get in the Christmas spirit now.

With Labor Day more than a week away, the world's largest retailer is scheduled to launch its holiday season layaway plan four months before Dec. 25.

Starting Friday, two weeks earlier than it did last season, Walmart will allow customers to pay for nearly 40,000 items in installments. Shoppers will have 90 days to pay for their items. Merchandise will need to cost at least $10 and the total of items under layaway must reach $50, according to the company.

"Retailers want to get customers as soon as possible and Walmart's jumping the gun," said Business Insider's Ashley Lutz. "They're saying, 'Spend all of your money here in August. Then you won't have money to spend in other places."

In the retailer's case, it's hoping the Force will indeed be with it.

"Customers, fans, collectors and even wookies from across the galaxy are counting on us to bring them the hottest toys at the best prices and we won't let them down," Walmart said.

ABC News' Rebecca Jarvis contributed to this report.