2014 saw significant churn in Watches & Jewelry brands’ digital profiles, as nineteen brands relaunched their websites and the gap between digitally savvy brands and digital non-participants widened. Over half of brands now provide a path to purchase online through e-commerce or e-concierge services (or both), and 38 percent of e-commerce enabled brands provide pricing transparency of products not available online to inform in-store visits. 2015 promises to be even more eventful as Weak Asian Markets, ascendant prospectus for branded jewelry, and the emergence of non-traditional sources of competition threaten the status quo for the Watches & Jewelry industry at large. L2’s sixth annual Digital IQ Index: Watches & Jewelry 2014 quantifies the digital competence of 82 Watches & Jewelry brands. View More: http://goo.gl/IIk6LV Signup for updates: http://goo.gl/kVJTQ3 Follow us on LinkedIn: https://www.linkedin.com/company/l2-inc- Follow us on Twitter: https://twitter.com/L2_Digital Follow us on Facebook: https://www.facebook.com/l2inc
Since the introduction of the ATM in 1969, banks have leveraged technology to reduce cost and the friction between financial services and the end consumer. In 2015, “FinTech” startups took in $19 billion in investment capital, extending the scope of the sector beyond payment platforms to include new lending tools, personalized investment services, and wealth management solutions. Jaded by the financial crisis, 51 percent of millennials demonstrate a willingness to experiment with non-traditional providers, underscoring a potential threat to the status quo. Traditional Financial Service providers are following suit with their own investments in the FinTech arena, but have been slow out of the gate. Only half of Index brands support “Get a Quote” or “Find an Advisor” tools, putting the onus on prospective consumers to initiate next steps. And while almost all Index brands engage customers on LinkedIn, 16 percent of brands do not maintain an active presence on Facebook. Bank of America sets the gold standard in L2's inaugural Digital IQ Index®: Financial Services. The “genius” brand proves unique in leveraging SEO and SEM investments to ensure elevated visibility across top-of-the-funnel keywords, and investments ahead of the curve to provide a best-in-class experience on a smaller screen. In addition, Bank of America integrates past campaigns—including "Better Money Habits" and "Business of Life"—into emerging platforms ignored by most peers, engaging Millennials where they live. This study attempts to quantify the digital competence of 70 financial service brands operating in the US market. Members can download the full report at L2inc.com. Download the report: https://www.l2inc.com/research/financial-services-2016
Seven percent of luxury sales now occur online, making the web the third largest regional market for fashion, trailing only the US and Japan and is projected to be responsible for more than 65% of the industry's growth over the next 4 years. However, focusing on growing online sales is only a fraction of the opportunity—89 percent of consumers visit a brand’s site before making a purchase, eclipsing competing touchpoints. While the hype around See Now, Buy Now has dominated the fashion press, only fourteen percent of brands participated during 2016 global Fashion Weeks—and just five brands made the majority of their assortment available. Amazon continues to keep Fashion in focus and will surpass Macy’s apparel and accessories sales by early 2017. Despite its $15M “Delivering Fashion” TV campaign, the majority of Amazon fashion growth has come from core replenishment items including underwear and jeans versus seasonal styles. While early online innovators in Fashion including Ralph Lauren and Burberry struggle to find elusive growth, a new digital genius has grabbed the microphone. In this year’s 7th annual Digital IQ Index for Fashion, Gucci captures the top spot with a revamped site offering, shoppable looks, superior customer service, unrivaled visibility on category search terms, and best-in-class visibility on retailer sites and social platforms. L2‘s 2016 Digital IQ Index®: Fashion quantifies the digital competence of 85 fashion brands operating in the US market. Members can download the full report at L2inc.com.
Highlights from our third-annual IQ report measuring the online competence of luxury fashion brands. Download the full report at: L2ThinkTank.com/FashionDigitalIQ2011/
Despite improvement in omnichannel and mobile capabilities among Big Box retailers, 4 out of 5 customers describe their experience with in-store technology as poor. Meanwhile, Amazon’s launch of “Go” will again raise the bar regarding customer expectations for grocery. With half of US consumers saying same-day delivery options would motivate incremental online purchases, Index brands investing in fulfillment solutions: 48 percent of non-Grocery brands offer either same-day or next-day delivery, and 41 percent offer same-day pickup. However the performance doesn’t always match the promise—last year, 60 percent of buy online/pickup in-store orders placed on Cyber Monday experienced issues. With each new product category Amazon elects to attack offline, its dominance online grows. Across 13 keyword categories examined by L2, The Seattle retailer dominated several by a wide margin, and Amazon now represents for an alarming 80 percent of US e-commerce growth. However, a couple Big Box brands are thriving: Home Depot retains the number one spot in L2’s 2016 Digital IQ Index: Big Box, with a desktop site that features best-in-class omnichannel capabilities, content-rich mobile site product pages, and a recently-updated mobile app featuring live chat, image search and in-store guides. Best Buy captures second place this year, with content-rich brand shop implementations, a sophisticated mobile app that allows users to tap and hold a product to add to cart, and dominance on PLAs for non-branded category search terms on Google. Home Depot and Best Buy’s Digital IQ is markedly superior to peers as these two genius brands begin to pull away from peers. This study attempts to quantify the digital competence of 65 Big Box Retail brands operating in the US. Members can download the full report at L2inc.com.