L2: Watch Brands Fail ‘Digital IQ’ Test

L2, the New York City-based thinktank, is out with its first-ever Digital IQ Index for watches & jewelry companies. Gray market fears, counterfeit concerns, pricing opacity, and retailer/brand conflict have contributed to an environment that makes it tough for these organizations to thrive in the digital space, concludes L2. Here are some of the highlights from the full report that can be downloaded here:

  • Nearly two-thirds of brands' digital strategies are categorized as "challenged" or "feeble"
  • Jaeger-LeCoultre is the leading watch brand with a score of 108, which is only good enough for an average rating, which means their "[d]igital presence is functional yet predictable." rel="lightbox914"
  • Rolex, Franck Muller, and Patek Philippe are among the brands that were given the "feeble" label, with Patek Philippe scoring a 36 and a last-place finish.
  • With a score of 143, Tiffany & Co. is the only company to get a "genius" designation in the study
  • Of the watch brands, only Movado and Longines have e-commerce capabilities, which is the strongest predictor of "digital competence across channels."
Categories: Jaeger-LeCoultre, Movado, Other Swiss Watch Brands, Patek Philippe, Rolex, Swiss Watch News.

Comments (3)

  1. Randall Johnson

    This is a really interesting report. Enjoyed reading the whole thing. Seems like the whole business is stuck in another century. I wonder what the future holds for the watch companies that don’t embrace technological change. Will it matter to their business? Maybe not now but in time, it’s got to have a big impact. A real crisis for the industry seems to be looming.

  2. Good post however I was wanting to know if you could write a little more on this topic? I’d be very thankful if you could elaborate a little bit more. Thank you!

  3. @Seiko Watch
    Those companies all manufacture exclusive watches which can range in price from $500.000 to $2.000.000. Companies like this market in different ways. Smarter ways.
    No crisis looming, no way…

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