Digital IQ for Watch brands, by L2ThinkTank

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L2ThinkTank

Every year the L2ThinkTank company releases the new ranking of Digital IQ for brands. Here are the results of for the Watch and Jewelry industries. To remind you the methodology, L2ThinkTank takes in account Mobile, website and Social media for each brand and classifies them depending on a certain score from <70 to >140. Here is the scale:

<70: Feeble
investment does not match opportunities

Between 70 and 89: Challenged
Efforts are inconsistent and siloed accross platforms. Site lacks inspiration and utility.

Between 90 and 109: Average
Digital presence is functional yet predictable.

Between 110 and 139: Gifted
Brands are experimenting and innovating across site, mobile, and traditional and emerging social media platforms. Digital presence is strong, complementing brand image and larger marketing efforts.

 > 140: Genius
Digital competence is a point of competitive differentiation. Site experience is shoppable, searchable, shareable, and mobile-optimized. Social media is integrated across multiple platforms.

To start, here are the top 50 best companies in the Watch and Jewelry industry ranked according to the scale above.

top 50 best watch brands

top 50 best watch brands 2
top 50 best watch brands 3

top 50 best watch brands 4

top 50 best watch brands 5

top 50 best watch brands 6

top 50 best watch brands 7

top 50 best watch brands 8

top 50 best watch brands 9

As we can see many Swiss brands are high ranked like Tissot and Victorinox. Others, like Vacheron Constantin, Patek Philippe or even Rolex are still weak in the digital revolution. This revolution accelerated a lot thanks to the rise of Social Media. In deed the word of mouth and the recommendation topics turned to be online now. Here is the penetration of the major social networks in the Watch and Jewelry industry. Of course Facebook is the highest with a 96% of penetration. We are in the Facebook era anyway. But by looking closer, we can see for example the raise of Pinterest with a 55% of penetration rate. What Instagram never succeeded to do, Pinterest did it.

social media penetration watch brands

Another interesting diagram is the current implementation of mobile browsing for websites in the Watch and Jewelry industry. We can see that a large majority is still not Mobile adapted. Only 11% of websites have adopted technologies like the responsive design and only 32% have wap sites. We are here still talking about traditional desktop version websites. Let’s note a dramatic 6% that are even Mobile blocking, meaning they are impossible to browse via mobile. Most of the time it is because of flash animations and IOS.

website ready

Here is a diagram with the share of revenue in the Watch and Jewelry industry.

share of total revenue

 

If you wish to learn more about the L2ThinkTank services, here is a video about it.

You can also connect to the company’s website:
http://www.l2thinktank.com 

So…. watch out!
LA

 

Info sourced at annual L2Thinktank segment report. All content is copyrighted with no reproduction rights available. 

Sebastien Eich

Sebastien Eich is passionate about Swiss watch-making and throughout the years he gathered a tremendous amount of knowledge about the beautiful art of creating a watch. Based in Switzerland, the mother land of watch-making, he has exclusive access to Brands and events. He shares all of it here for the great pleasure of sharing.