Policies & IssuesNov 27, 2024
G7 Announces Botswana as Second Verification ‘Node’ for Rough DiamondsBotswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
TechnologyMar 09, 2018
Tiffany, Cartier, Swarovski Among the Smartest Online
They ranked at the top of the 2018 Digital IQ Index for watches and jewelry.
A screenshot from a video on Cartier’s YouTube channel advertising the Panthère collection that received nearly 4 million views. Cartier ranked second only to Tiffany & Co. in L2’s latest Digital IQ Index for watches and jewelry.
New York--L2 has released its annual report ranking the digital competency of some of the world’s biggest watch and jewelry brands, and two familiar names are at the top.
L2 is a New York-based consulting firm that specializes in benchmarking the digital performance of consumer brands across various markets and then providing marketers with research insights to help them grow their businesses.
Part of this research is the firm’s “Digital IQ” indices, which evaluates and ranks brands in various industries, like hotels, activewear, restaurants, and watches and jewelry.
The 2018 Digital IQ Index for watches and jewelry examined 70 brands and scored them based on the following four factors: website and e-commerce, which includes site load speed, product pages, the e-commerce experience, and online customer support; digital marketing, such as search visibility, email open rates and earned (not paid for) media mentions; mobile, meaning load speed on devices, mobile search capabilities and m-commerce; and social media.
After being scored, the brands are put into one of five intelligence-related categories: Genius (140 + points), Gifted (110-139), Average (109-90), Challenged (89-70) and Feeble (<70).
The only jewelry or watch brands labeled Genius by L2 were Tiffany & Co. (144) and Cartier (140).
L2 cited Tiffany’s best-in-class product pages, which give it strong organic Google search visibility, its mentions in publications like Vogue and Elle and expertise on social media as being among the factors that make it Genius.
Cartier, meanwhile, received points for its easy online appointment booking, 360-degree views of product, and strong YouTube and Instagram presence.
Close behind Cartier was Austrian crystal brand Swarovski (139), followed by Alex & Ani (138) and David Yurman (136).
Rounding out the top 10 were Pandora, two LVMH-owned brands, Bulgari and TAG Heuer, Swatch Group-owned Longines, and Montblanc, which is a Richemont brand. All had scores that fell into the Gifted range.
The report noted that more watch and jewelry brands are embracing either direct-to-consumer e-commerce or partnering with sites like Net-a-Porter, which Richemont has bid to take full control of, and Hodinkee, in an effort to push down resale and gray market listings online.
But, L2 said, jewelry brands still face challenges as “digital upstarts” and “disruptors”—the report names specifically Brilliant Earth, Rare Carat and now-Signet-owned James Allen—edge out brands evaluated on the index when consumers are using Google to search for diamonds. In addition, they are beginning to lose search visibility ground to resale sites like TrueFacet and Tradesy, L2 said.
Watch
brands, too, face search competition issues from resale and gray market sites.
Other areas of improvement for both jewelry and watch brands cited by L2 included email marketing.
Only 67 percent of the 70 brands evaluated on the index sent any marketing emails in 2017, despite 81 percent of them offering email sign-up on their website.
Jewelry and watch companies are “missing a crucial opportunity to engage with customers directly to improve retention,” L2 said.
While Tiffany and Cartier ranked as Genius and 17 other brands were labeled as Gifted, there were 22 watch and jewelry brands that rated as Average, 14 as Challenged and 15 as Feeble.
The bottom five brands, all labeled Feeble, were Swatch Group-owned Jaquet Droz (56), Richemont’s A. Lange & Söhne (54), Wellendorf (47), Kering watch brand JeanRichard (38) and Richemont’s Giampiero Bodino (23).
A few other brands that ranked as Feeble included Fabergé (68), which is owned by Gemfields; Movado Group watch brand Ebel (67); Buccellati (63), which was purchased by a Chinese company last year; and Graff (58).
The L2 report said Tiffany “over-indexes” on social media platforms, particularly Instagram, where it posts Stories and is quick to try new features, like polls.A post shared by Tiffany & Co. (@tiffanyandco) on Jan 11, 2018 at 8:22am PST
Other areas of improvement for both jewelry and watch brands cited by L2 included email marketing.
Only 67 percent of the 70 brands evaluated on the index sent any marketing emails in 2017, despite 81 percent of them offering email sign-up on their website.
Jewelry and watch companies are “missing a crucial opportunity to engage with customers directly to improve retention,” L2 said.
While Tiffany and Cartier ranked as Genius and 17 other brands were labeled as Gifted, there were 22 watch and jewelry brands that rated as Average, 14 as Challenged and 15 as Feeble.
The bottom five brands, all labeled Feeble, were Swatch Group-owned Jaquet Droz (56), Richemont’s A. Lange & Söhne (54), Wellendorf (47), Kering watch brand JeanRichard (38) and Richemont’s Giampiero Bodino (23).
A few other brands that ranked as Feeble included Fabergé (68), which is owned by Gemfields; Movado Group watch brand Ebel (67); Buccellati (63), which was purchased by a Chinese company last year; and Graff (58).
More on Technology
The Latest
SourcingNov 27, 2024
Gemfields Reports 'Disappointing' High-Quality Emerald Auction ResultsThe miner said its November sale, which earned $16.1 million, felt the effect of competitive pricing by a rival Zambian producer.
CollectionsNov 27, 2024
Piece of the Week: Mignon Faget’s ‘Crescent Starry Night’ Tassel EarringsMignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
SourcingNov 26, 2024
De Beers Stays With ‘A Diamond Is Forever’ for 2024 Holiday Campaign“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsNov 26, 2024
Christie’s To Auction Collection of Suzanne Belperron JewelsIt’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
ColumnistsNov 26, 2024
The Smart Lab: 7 Strategies for Refining Your Holiday Email Marketing CampaignsSuccessful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 26, 2024
GIA’s Board of Governors Adds 2 New MembersRetail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
MajorsNov 26, 2024
Ben Bridge Jeweler Unveils This Year’s ‘Benny Bear’ Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
SourcingNov 25, 2024
William Goldberg Celebrates 2 Major Milestones With New Book“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
IndependentsNov 25, 2024
Sophie Bille Brahe Opens First US StoreThe Danish brand has opened an appointment-only location on Madison Avenue in New York City.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
