Cyber Monday Sales Up 16%, But Hottest Deals Were Gone Before Day Even Began
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So much for Cyber Monday. After robust online sales during Thanksgiving and the holiday weekend, many retailers continued to pile on the deals on Monday morning with promises of 15 and 25 percent discounts across the board at marketers including Toys R Us and Target. Sounds great in theory.
Here’s the rub: Many must-have holiday items were already sold out, snatched up by eager shoppers browsing from their couches over the weekend.
Those shoppers who waited for the best deals on the season’s hottest toys and electronics received a rude awakening on Monday as they saw first-hand the results of tighter inventory management from struggling department store chains. Many hot toys touted by retailers, like last year’s must-have item Hatchimals and a new LOL Big Surprise ball, were unavailable online. Fingerlings, interactive finger puppets, were sold out at Walmart despite the brand promoting such exclusives last month.
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