This video highlights the results of our first-annual Mobile IQ report, measuring the online competence of 100 iconic prestige brands.
Prestige brands are just beginning to wake up to the opportunity around mobile.
62% of all smartphone and tablet owners use their devices for online shopping at least once a month. In addition, 48% of consumers use their mobile devices for reference while shopping at brick-and-mortar retailers.
Despite the influx of smartphones many prestige brands have been slow to develop a comprehensive mobile offering.
Of the 100 iconic brands surveyed in L2's first Prestige 100: Mobile IQ, 30% of brands have not developed a mobile app and one-third of brands do not maintain a mobile-optimized site. Only 52% have invested in both an app and a mobile site -- and a shocking 16% have yet to pursue either strategy, relying exclusively on their traditional site experience.
M-commerce sales are expected to increase 5-fold by 2016, yet brands with a mobile presence do not consistently offer users a discrete path to purchase. Only 31% of the apps and only 62% of the mobile sites are m-commerce enabled.
Consequently, nearly half of the brands studied qualify as "Feeble" -- demonstrating a persistent, widespread under-investment in mobile.
The leaders in the Prestige 100: Mobile IQ are mobile-savvy retailers:
Sephora finds itself atop the list, blending a robust mobile site with value-add apps on both the iPhone and iPad. Sephora consistently promotes its mobile offering across its main site, email marketing, and social media presence.
Nordstrom comes in as runner-up, after releasing a popular app for iOS and Android in November. The app builds on earlier experiments in mobile, blurring the line between the in-app and in-store experience with a barcode scanner, wish-list builder, local events calendar, and in-store pick-up.
Macy's makes up for the lack of a tablet-specific experience through strong mobile fundamentals and including support of emerging mobile payment systems, a robust SMS alerts program, and high follower and check-in activity on Foursquare.
Net-a-Porter rounds out the mobile "Geniuses", with apps that include local promotions, store exclusives, and spinoff properties.
Of the 42 brands which ranked as either "Genius" or "Gifted" in a previous Digital IQ Index, only 14 earned that distinction in a mobile-specific context.
Our thesis at L2 is that digital competence -- and by extension mobile competence -- is inextricably linked to shareholder value. Our aim is to help brands achieve greater return on incremental investment.
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