IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
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
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
Weekly QuizMay 09, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. ShowroomThe Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate ScholarshipIt will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
