A couple of weeks ago, several online retailers ran a poorly managed PayPal promotion that offered sizable discounts. For Newegg, the three-day sale instead lasted less than a day, at which point Newegg was yanked from the participating retailers list on PayPal’s promotions page. But Newegg is going back and making good on orders that were in process when the deal was pulled, according to a reader who forwarded us Newegg’s email.
“Cyber Monday” spending rose 21% from last year. 61% of those purchases were made using computers at the office. [NYT]
ABC News informs us once again that so-called “Cyber Monday” (today) is a creation of the National Retail Federation, and is “by no means the busiest day for online sales, just as Black Friday is not the biggest day of sales for most stores.”
Thanks to media hype and participation by major retailers, yesterday’s Cyber Monday resulted in record traffic and sales.
Recently we reported that so-called “Cyber Monday” might be a mere marketing myth invented by the National Retail Federation.
Contrary to popular belief, Black Friday may not be the busiest shopping day of the year, according to a study released Monday by Mastercard.
Business Week’s Bob D. Hof has a brilliant dissection of the ‘Cyber Monday’ campaign, the much-touted farce designed by Shop.org to spur you to purchase lots of holiday crap.
Shop.org member Shmuel Gniwisch, chief executive of the online jewelry site Ice.com, recalls getting an e-mail from Shop.org last year, suggesting that online retailers come up with their own marketing hook to match Black Friday. “The online guys got together and said, ‘Let’s give people something different,'” he says. “The reality is, we didn’t notice anything special” on the Monday after Thanksgiving.
We’ve personally gotten dozens of calls about ‘Cyber Monday’ over the last week, mostly from confused print and television editors questioning why they hadn’t heard of this massive online retail fiesta. The reason is pretty clear, as Hof explains: for most major online retailers, ‘Cyber Monday’ isn’t the biggest shopping day of the year.