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Since 2000, nearly 20 global fashion brands have signed licensing agreements with Fossil, Movado, or Timex. In 2014, two licensed brands, Michael Kors (by Fossil) and Guess (by Timex), were among the top ten best selling watch brands in the U.S. Meanwhile, as Apple begins to enter the market, nearly a quarter of the brands surveyed in this Index have announced plans to release a wearable device. An increasingly crowded market, combined with uncertainty over the wearable device trend is challenging convention, bringing the watch industry kicking and screaming into the 21st century. The 2015 Digital IQ Index: Mass & Licensed Watches assesses the digital performance of 74 watch brands, 40 Mass brands (i.e. Timex, Casio, Swatch, etc.) and 34 licensed brands (i.e. Michael Kors, Coach, Guess, etc.).
Mass & Licensed Watches 2015
April 7, 2015
Fashion brands’ hunger for growth coupled with the specter of wearables is dragging the watch industry into the 21st century. On the heels of the Apple Watch, nearly a quarter of Mass & Licensed watch brands have now pledged to release a smartwatch. Analysts suggest a third of the Swatch Group's profits are at risk from the new entrant. Despite this lingering threat, investments in digital are anemic. While 70% of brands now support Direct to Consumer e-commerce, Only 39% secure first-page search visibility on category keywords—blunting brand discoverability at the top of the funnel. Once on site, only 24% of licensed brands integrate watches into their main navigation scheme—failing to promote watches as prominently as other product lines. Digital marketing is a similar story as mass brands, on average, email consumers only once a month, and Licensed brands send less than one watch-specific announcement per quarter. Genius brand Michael Kors leads with a commitment to digital that includes its #MKTimeless campaign, and unmatched integration of watch-specific programming across site, email, and social media. Fossil boasts the most robust SEO, returning fossil.com in broad-spectrum searches for terms including "mens watches". And Shinola's #MyShinola demonstrates 1.7x the engagement of other brand posts, backed by a best-in-class mobile experience. This study attempts to quantify the digital competence of 74 Mass and Licensed watch brands. Members can download the full report at L2inc.com. http://www.l2inc.com/research/mass-licensed-watches-2015