Tiffany & Co and Swarovski achieve top ranking in online study
Tiffany & Co, Swarovski and Jaeger-LeCoultre were the three highest ranking brands in an index of watch and jewellery websites and online presence, while others were found to be “running out of time online” according to the L2 Digital IQ Index.
While Tiffany’s digital efforts were rated as Genius, reaching the rank of number one with the comments: “a class by itself, Tiffany boasts the only m-commerce site and a flare for
cross-platform programming” and Swarovski, labelled Gifted, was praised for its “huge Facebook community”, other jewellery and watch brands’ digital innovation was found wanting.
Nearly two thirds of the brands were classified as Challenged or Feeble. In third place, Jaeger LeCoultre was classed as Average. The Digital IQ Index: Watches & Jewelry study, written by L2 – a think tank for digital innovation that brings together thought leadership from academia and industry to drive digital marketing innovation – ranked the digital competence of 35 prestige brands across four dimensions: Site, Digital Marketing, Social Media, and Mobile. The study measured the brands’ digital efforts against more than 350 data points and classified them into five categories: Genius, Gifted, Average, Challenged, or Feeble.
Among its findings, the study revealed that less than half the brands link to a store locator from the product page and just one third display product prices. Tiffany was the only site found to provide in-store pick-up through its site while Tag Heuer was the only brand to provide links to online retailers.
On the plus side, all but three of the brands now have a presence on Facebook, with communities averaging more than 200,000 fans. Mobile site adoption is up from just 7% in 2010 to 39% this year. The study also stated that brands are moving away from flash-heavy websites that can be difficult and more time consuming to navigate.
Commenting on the results, Scott Galloway L2 founder and clinical professor of marketing, NYU Stern Hubris said: “The watch and jewellery industry is running out of time online. In our first study measuring the category in isolation, nearly two-thirds of brands are classified as Challenged or Feeble. Although these brands are beginning to invest in social media and mobile, transaction-orientation and digital marketing competence such as search, email, and retargeting lag other industries.”