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."