Fast and easy. At today’s frenetic pace of life, these two attributes speak loudly to the consumer mindset and garner instant appeal. And with good reason. In today’s digital age of consumer control, where information is shared across the globe at the speed of light, consumers have come to expect instant gratification. Truly, with the click of a mouse, knowledge is shared, opinions are given, relationships are built, and products are purchased—from anywhere and at anytime. And while consumers have embraced cyberspace as a viable medium, there is a fine line between balancing the desire for speed and convenience with the practical need to grow sales and profitability when it comes to viral brand marketing.

To buy or not to buy—online that is
Like peanut butter and jelly, cookies and milk, or bread and butter, some combinations are just meant to go together. Such is the case when you link “high-consideration” categories like consumer electronics with online shopping. Arming the consumer with enough product information to make an instant expert, the Internet not only quenches the thirst for knowledge, but it satisfies the desire to buy too.

In fact, a recent Nielsen Online MegaPanel survey revealed the reasons why consumers would rather buy a consumer electronics product online than in a local store. And price is a main driver. Over two-thirds of consumers say that they could get a better price online than in a local store and fully half believe it is easier to compare prices online. Other reasons cited include: getting convenient at-home delivery (45%), comparing retailers (41%), choosing from a much broader selection (40%), accessing more product information (40%), and reading consumer reviews (37%).

On the other hand, “low-consideration” categories, such as consumable products like pet food, do not hold the same online purchasing appeal. In fact, the reasons not to buy pet food online win out by an overwhelming 91% majority. Among the reasons why consumers would not buy pet food online, a motivating factor for over two-thirds of respondents was the high shipping and handling prices. Longer wait time (57%), high online prices (16%), being at home for the delivery (15%), and difficulty in redeeming coupons (12%) were also concerning.

Check-out considerations
Interestingly, while consumers cite numerous reasons to buy “high-consideration” categories online, when it comes to check-out, they are actually two times more likely to make a consumer electronics purchase in the local store (59%) rather than online (31%). The most common reason cited by 58% of respondents was the ability to physically evaluate the product before making the purchase.

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But, whether consumers buy online or in-store, multi-channel shoppers are big spenders. In fact, Nielsen found that consumers who shop both online and offline are the most valuable. Looking across a mix of brick and mortar retail channels, multi-channel shoppers spend 57% more at CVS, 61% more at Walgreens and Costco, 38% more at Walmart and 37% more at Sam’s when compared with the average spending of consumers who exclusively shop online or only shop offline.

Complementary cohorts
Nothing is quite like the actual in-store experience for some products—the ability to physically evaluate a product or speak to a knowledgeable salesperson can literally make or break a sale. On the other hand, the convenience of visiting a much broader selection of virtual retailers to compare and contrast pricing and capabilities without ever leaving home is, well, simply priceless.

Clearly in-store and Web channels complement each other—the combination of the two has absolutely become table stakes for successful retailers. In fact, Nielsen found that 80% of consumers actually purchased a consumer electronic product from a local store whose web site they visited as they were doing research online. Striking a balance between online and in-store can lead to a big payoff.

The source of choice
Perhaps for a “high-consideration” category like consumer electronics, it is no surprise that the Internet is the source of choice for 58% of consumers if they were only able to use one resource to support their next purchase. A visit to the local store trailed way behind as the singular option for 25% of consumers. However, in the case of a “low-consideration” category like pet food, where 44% of buyers visit the web site to learn about food or issues related to pet food, it is important for marketers to understand how to employ an active crossover strategy by engaging the consumer more successfully online.

And unlike consumer electronic buyers where price is the motivating factor for going online, 48% of pet lovers are more interested in learning about nutritional specifications. Learning about product ingredients and recalls were a close second for 45% of pet food buyers. Other factors include learning about safety issues and finding sales and promotions (40%), evaluating and comparing prices (36%), finding a local store (25%) and reading consumer reviews (16%).

Learn from the best
Some retailers are making the most of their web sites as a destination source to engage consumers. Best practices include Safeway’s printable recipes linked to shopping lists, Best Buy’s in-store inventory availability check, Walmart’s site-to-store free shipping option, Lowe’s “how-to” content information, and Kraft Foods’ recipe availability from six different downloadable platforms.

Offering great product- and category-level content is the critical foundational element to make multi-channel retailing most successful. Key pieces of content must be portable and enable easy printing. Making it accessible via mobile and in-store devices is a plus. The bottom line is this: give consumers a multitude of ways to reach your product and remain agnostic regarding in which channel the ultimate purchase is made. In doing so, you not only build customer loyalty, but you boost the bottom line as well.