©Image from BigStockPhoto.com Dashing for the Jewellers race to find way in online marketing By Deborah Yonick digital marketplace S poiled with 10 per cent revenue gains year-on-year during the past two decades, luxury brands appear to have become complacent to understanding and harnessing digital technology as they guard their message of exclusivity. However, according to a recent study, the recession may have jumpstarted online activity. faced with a new retail landscape dramatically altered by the tougher economic times, luxury brands are rushing to dial into the digital marketplace to get up to speed. In the first and largest study of its kind, new york university’s Stern School of business rated the digital competence of 109 leading luxury brands in 11 categories. according to the study’s rankings, the fine jewellery category accounted for the greatest number of ‘challenged’ and ‘feeble’ firms online. Why such dismal ratings? Weak traffic, poor user interfaces, and limited use of social media were among the reasons. February 2010 ❘ Jewellery Business 71