Tiffany & Co., Swarovski and Cartier muscle their way to the top of L2's "2013 Digital IQ Index: Jewelry and Watches," but an era of increased digital receptivity is emerging as 28 percent of brands ranked as gifted or genius.
While improvements such as digital concierge services have been made over the past year, global ecommerce options, tablet Web sites and untamed social media pages still pose problems. Other brands such as Jaeger LeCoultre, Chopard, David Yurman and Piaget round out this year's top ten.
"2013 represents a tipping point for watches and jewelry brands," said Colin Gilbert, researcher at L2, New York. "54 percent of the brands L2 has tracked in this sector since 2010 are now ecommerce enabled, up from 29 percent a few short years ago.
"In addition, brands are not shying away from selling luxury merchandise online," he said. "38 percent of ecommerce enabled Web sites list items in excess of $20,000.
"These benchmarks provide a wake-up call for the remaining 'we will never sell online' holdouts. Despite progress, there is still room for improvement."
L2's 2013 Digital IQ Index: Jewelry and Watches examines the digital proficiency of 80 watch and jewelry brands. Brand evaluations are weighted according to the following criteria: 40 percent Web site, 25 percent digital marketing, 20 percent mobile and 15 percent social media.
The queens and kings
Tiffany & Co.'s top ranking comes from a new Web site that elevates customer service, social media dominance across channels and a highly popular tablet application that came out in April.
The updated Web site is designed as a personal invitation for consumers to shop or learn about the history surrounding Tiffany’s collections (see story).
Consistently rising above the noise during marketing cycles, involvement in movies and a diverse social culture that culls user-generated content are the chief reasons for Swarovski's second place ranking.
Supermodel Miranda Kerr in Swarovski's latest campaign
Wink by Nathalie Colin includes social media channels and a blog detailing the creative director’s many inspirations, fashion tips and aspects of her daily life (see story).
Cartier earned its spot through a commanding presence on YouTube and its streamlined Web site that emphasizes concierge services.
Mixed messages
The brands with the most impressive gains from the year-ago period include Chopard, Baume & Mercier and Vacheron Constantin.
In 2011, 6 percent of brands qualified as either gifted or genius, while 28 percent of brands rank in the top tiers today. However, 29 percent of brands including Breguet, Blancpain, Richard Mille and Ulysse Nardin qualified as feeble.
Additionally, 20 percent of brands including Graff Diamonds, Harry Winston and Patek Philippe were scored as challenged.
Graff's reimagined Hair & Jewel design
Richemont has the highest average digital IQ among conglomerates with a score of 112. LVMH's brands averaged an IQ of 96, compared with Kering's 68 and The Swatch Group's 75.
L2's 2013 Digital IQ Index: Jewelry and Watches
Zooming in
L2 determined that more than 20 percent of user searches deal with a specific product. The Rolex Submariner watch generated the most searches in October with 165,000.
The study also found that brands do not do a good job at offering alternative paths to purchase.
Twenty five percent allow consumers to contact the brand through their Web sites, 18 percent let consumers email concierges or service representatives and nine percent provide appointment scheduling options.
"Genius and Gifted brands frequently provide multiple paths to purchase, they let their customers choose the method they find most comfortable," Mr. Gilbert said.
"Half the brands are ecommerce enabled, a quarter provide concierge services, 15 percent do both," he said."The vast majority that support both paths to purchase gravitate towards the top of the Ind, because supporting multiple modes of transaction requires additional proficiency in email marketing, mobile optimization, and customer service via social media.
"It has a domino effect across their digital profile, leaving many digital laggards behind."
Final take
Joe McCarthy, editorial assistant on Luxury Daily, New York