A “Blue” Cyber Monday?

It’s looking more like Cyber Monday might have been more hype than help to struggling retailers. Despite stepped-up promotions, it appeared that customers are still reluctant to part with their hard-earned dollars as the holiday shopping season kicks off.

AP
Published: December 2, 2008

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NEW YORK (AP) - It’s looking more like Cyber Monday might have been more hype than help to struggling retailers.

Despite stepped-up promotions, it appeared that customers are still reluctant to part with their hard-earned dollars as the holiday shopping season kicks off.

While there were lots of shoppers who ventured online to seek out bargains, the number of buyers didn’t come close to generating the kind of revenue that could shake the fear that this will turn out to be one of the weakest holiday seasons in years, for both online and brick-and-mortar retailers.

More evidence that the whole Cyber Monday deal may not be all it’s cracked up to be: Online monitors say Internet activity at retailers was up this Black Friday from last year’s numbers. Online billing site Pay Pal says transactions rose 34 percent and online payment volume went up 26 percent on Black Friday.