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The results are in from NYU's think tank Luxury Lab's fourth-annual Digital IQ Index, a.k.a. the "online competence" rankings for fashion brands: Burberry takes the top spot for the second consecutive time. But the Brits didn't make a clean sweep of it this year. US brands took the second spot with Ralph Lauren and the smaller lifestyle brands Kate Spade and Tory Burch tied for third. Finally, Gucci, Coach, and Louis Vuitton rounded out the "genius" category.
The largest indicator of success this year, perhaps surprisingly, was not social media presence, nor was is innovating through new technological channels. It was good old-fashioned e-commerce growth. The founder of the study, Scott Galloway, notes, "We got it totally wrong on Facebook commerce," and dubbed the market the "ultimate head fake for this industry."
Instead, brands were assessed by their e-commerce strength as well as accessibility through smartphones and tablets, the fastest growing method for searching fashion. Galloway explains, "What's old is new again. E-commerce is now the new must-have accessory for fashion brands." Hear that Uniqlo and H&M?
· Burberry Again Tops Digital Rankings [WWD]
· Is London Out-Pacing New York in Digital Fashion? [Racked]
· 4 of the Top 5 Fashion Brands on Instagram Are Luxury Brands [Racked]