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This week's Cyber Monday retail event on the internet is shaping up to be the best ever, according to many retail industry watchers. Retailers Wal-Mart Stores Inc. (NYSE: WMT) and Circuit City Stores Inc. (NYSE: CC) had heavy promotions this past Monday, along with online-only retailers Amazon.com (NASDAQ: AMZN) and Buy.com.
Did possible record sales come after heavy price chopping, or was the Cyber Monday sales push more customer-driven? Heavy discounting already is being looked at as the cause, and although legit, it could cause a large dip in profits to those retailers overexercising the strategy.
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