Of the 64 specialty retail brands in the second annual Digital IQ Index: Specialty Retail, Macy’s (NYSE:M) scored highest. The index was developed by New York University professor Scott Galloway and a team of experts from L2 in partnership with Buddy Media. The ranking measures a brand’s website, digital marketing, social media and mobile presence.
Based on these scores, each brand is assigned a Digital IQ and a corresponding class of Genius, Gifted, Average, Challenged or Feeble. Only Macy’s, Victoria’s Secret and Nordstrom earned the Genius distinction.
Macy’s posted a Digital IQ of 150 and is described as: “Strong social media and the “Magic of Macy’s” mobile site crowns the venerable department store #1.”
Bloomingdale's , which Cincinnati-based Macy’s also operates, was tied for eighth on the ranking, falling under the gifted class with a Digital IQ of 131. Compared with 2010, Bloomingdale’s Digital IQ rose 22 percent.
“This research proves that retailers who are leading the way when it comes to integrating and maximizing digital platforms are also seeing increases in shareholder value,” Michael Lazerow, CEO and founder of Buddy Media, said in a news release. “Retailers have more opportunities than ever to identify who their most profitable customers are. We are in the midst of a massive shift online from a search and intent-based world to a social, people-based world, and retailers that put people first will win.
Story: "Macy's ranks first among retailers in study of digital IQ", by Tom Demeropolis, Business Courier on August 24, 2011 (http://www.bizjournals.com/cincinnati/news/2011/08/24/macys-ranks-first-among-retailers-in.html)