L2 Releases Inaugural Intelligence Report: Mobile

One-Quarter of Searches for Prestige Brands Now Originate from a Mobile Device; “M-influence” to Replace “M-commerce” in Business Lexicon

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L2 believes that the hype surrounding m-commerce is giving way to the reality of
m-influence—in-store retail sales driven by, but not consummated, on smartphones and tablets.

New York, NY (PRWEB) February 14, 2013

Although consumer usage of mobile devices continues to escalate, prestige brands have made limited, incremental investment in mobile since L2 established a baseline in last year’s first-ever Prestige 100®: Mobile IQ study. The new L2 Intelligence Report: Mobile, authored by Scott Galloway, NYU Stern Clinical Professor of Marketing, and a team of researchers at L2 Think Tank, examines key data, trends, and insights pertaining to five prestige industries (Fashion, Watches & Jewelry, Beauty, Retail, Hospitality). This research release seeks to identify and evaluate strategies to unlock the potential of smartphone and tablet platforms.

L2 Intelligence Reports complement L2’s flagship Digital IQ Index® with a deeper dive on platforms or geographies of future growth.

Download an excerpt of the report: http://www.l2thinktank.com/research/mobile-2013/

Watch our original video highlighting key findings: http://vimeo.com/l2thinktank/mobile2013    

“L2 believes that the hype surrounding m-commerce is giving way to the reality of m-influence—in-store retail sales driven by, but not consummated, on smartphones and tablets.” -Scott Galloway, Clinical Professor of Marketing, NYU Stern, and Founder, L2 Think Tank

Study Highlights:

  •     23% of Google Searches for prestige brand terms originate from a mobile device (up from 14% last year), signaling a dramatic shift in device traffic for the brands reviewed.
  •     Only 57% of the 100 brands examined offer an optimized m-commerce experience. Nearly one-third of brands rely exclusively on the desktop version of their site to sell items available online to mobile consumers.
  •     Only 25% of prestige brands pursue mobile-specific paid search strategy—actively optimizing ad copy and links to make the most of small screen real estate.
  •     27% of the 238 apps produced by prestige brands for the iOS platform have never been updated following the initial release, signaling experimentation versus a commitment to refining engaging apps that “stick.”

About L2
L2 is a think tank for digital innovation. Founded by NYU Stern Clinical 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 brands and the largest and most robust study of its kind. Rankings are published annually across numerous industries, including: Luxury, Beauty, Retail, Travel, Spirits, Auto, and CPG. For more information, visit: http://www.l2thinktank.com

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  • Johanna Cox
    L2 Think Tank
    (202) 577-8936
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