CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
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
Editors' Picks
Sponsored by
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
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
WatchesApr 24, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
