Is putting a caller on hold considered a poor customer service tactic?

Yes, but really it's bound to happen. Stores don't have enough workers to answer the phone & stay to chat long. So they put you on hold. But at the bottom line, people get less upset by being put on hold by a real human being, than they get being put on hold by a robotic voice. Department stores however shouldn't put you on hold because they should have a good amount of workers.