FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEOThe announcement coincided with its full-year results, with growth driven by its jewelry brands.
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
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show SuccessJewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed LemurThis little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
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.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ ClassThe annual list recognizes young professionals making an impact in jewelry retail.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
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.
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.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
