We thought so. Recently, we’ve given a lot of thought to luxury brands and why they have been so slow to embrace the online revolution. For companies that base their business on innovation and cutting edge, luxury has been surprisingly sceptical. We’ve noticed that some brands are being left behind in the race to online, whilst others are surging ahead. This study has just provided hard evidence. Developed by NYU Stern Professor Scott Galloway, a team of experts and industry partner iCrossing, the study measured and ranked a brand’s digital footprint across four dimensions: effectiveness of a brand’s site, digital marketing, social media and mobile.
Fashion icons including Prada, Christian Dior, Cartier and Rolex dropped significantly from last year, showing ignorance to the significance of the digital age. Industry leaders included Coach, Louis Vuitton & Ralph Lauren (tied), Gucci and Hugo Boss. We predict this study will start to accurately forecast sales figures, and look forward to seeing how these findings correlate. For a deeper understanding of these results, check out this link.
Image credit: topnews.in
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