New York, NY (PRWEB) October 04, 2012
Burberry captured the number one spot for the second year in a row in the 2012 Digital IQ Index®: Fashion, followed by Geniuses Ralph Lauren, Kate Spade, Tory Burch, Gucci, Coach, and Louis Vuitton. The study, authored by Scott Galloway, NYU Professor of Marketing, and a team of researchers at L2 Think Tank, benchmarks the digital competence of 64 iconic fashion brands.
Download the full rankings and key highlights from the report: http://www.l2thinktank.com/research/fashion-2012/
Watch the video highlighting Key Findings:
Top Ten Digital IQ’s:
2. Ralph Lauren
3. Kate Spade
3. Tory Burch
7. Louis Vuitton
9. Hugo Boss
10. Tommy Hilfiger
“While the arms race among fashion brands for likes, followers, pins, and views escalates, a handful of fashion brands are fighting a quieter, and likely more important, battle for e-commerce market share.”
– Scott Galloway, Clinical Professor of Marketing, NYU Stern and Founder, L2 Think Tank
- The Next Battleground: Once considered an unlikely channel for meaningful sales, a robust e-commerce channel is the must-have accessory for fashion brands. Brands including Burberry, Ralph Lauren and Tory Burch saw 2011 e-commerce sales increase 30%, 23% and 90%, respectively.
- Disruptive Forces: From m-commerce to in-store checkout, smartphones are disrupting the industry. 22% of searches for fashion brands now occur from a non-pc device, up from 14% just nine months ago.
- The Whole: Less Than the Sum of the Parts: The industry’s largest conglomerates have failed to leverage their competitive advantage - scale. The average Digital IQ for every multibrand fashion house, with the exception of PPR, dropped significantly year-over-year.
- Selling Is Knowing: One in five brands in this year’s Index still do not sell online in the U.S., less than half (48%) have launched e-commerce in the U.K., and only a third sell online across Western Europe.
About our Methodology
64 iconic fashion brands were evaluated on more than 675 data points across four dimensions: Site, Digital Marketing, Social Media, and Mobile.
L2 is a think tank for digital innovation. Founded by NYU Stern professor of marketing Scott Galloway, L2 helps prestige brands navigate the digital marketing landscape through events, research, and advisory services. The L2 Digital IQ Index® is the global, seminal benchmark for digital performance of prestige brands and the largest and most robust study of its kind. Rankings are published annually across industries including Specialty Retail, Sportswear, Watches & Jewelry, Beauty, Travel, and Fragrance. For more information, visit: http://www.l2thinktank.com