12-3-2018
L2, a New York-based business intelligence and research firm has released its 9th annual report benchmarks the digital performance of Watches & Jewelry brands. Tiffany & Co and Cartier are the leaders among 70 assessed brands.
The “Digital IQ Index Watches & Jewelry 2018” grades companies based on their digital presence and engagement, namely website and e-commerce, digital marketing, mobile and social media. The research firm ranks them in five categories inclusive of Genius (140 + points), Gifted (110-139), Average (109-90), Challenged (89-70) and Feeble (<70) afterwards.
Tiffany & Co (144) and Cartier (140) are the only brands that made it into the Genius category. The former has competitive search-engine marketing strategies, consistent exposure in publications like Vogue and Elle and expertise on all social media channels. The jeweller even tries new features such as polls on Instagram, which stands itself from the crowd. While the latter received high scores for its YouTube and Instagram channels, strong search-engine marketing strategies and product pages on its website.
The largest grouping based on their Digital IQ fell to the Average category with a total of 22 companies including Mikimoto and Rolex. 64 percent of Google search results for Rolex go to resale sites leads to a losing visibility.
‘Watches & Jewelry brands have been hesitant to invest in digital initiatives,’ Reid Sherard, Associate Director at L2 said. “The most important things these companies can do right now is to expand their social media presence to attract younger consumers and invest in e-commerce,”Sherard added.
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