SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
IndependentsJun 28, 2017
Squirrel Spotting: You Don’t Need To Outrun the Bear
You just need to outrun the other jewelers who haven’t adapted their businesses, Peter Smith writes.
Peter Smith has more than 30 years of experience building wholesale and retail sales teams. He currently is president of Vibhor Gems.
When we find ourselves in the middle of challenging days, we would do well to remember the story of the two guys getting chased by a bear.
Mid-pursuit, one of them stops to tie his shoelaces. His friend looks at him aghast and exclaims, “You think you’re going to outrun the bear?” The guy responds, as he rises to resume his run: “I don’t need to outrun the bear. I just need to outrun you!”
It is easy to descend into the abyss, believing that events are conspiring against us. It is convenient to blame forces outside of our control, to lament our misfortune as foot traffic declines, average tickets regress, retail stores close and younger people seem less than enthralled at the prospect of shopping in jewelry stores.
The reality is that we hold the key to our own destinies. If we were to honestly assess our own operations, our decision-making, our execution, even our mindset, there’s a very strong likelihood that we are simply not doing all, or even most, of the things we need to be doing within our own four walls.
In retail, that means paying close attention to the evolution that is happening around us. Don’t talk about hiring great salespeople; do it. Don’t talk about investing in your teams’ education; do it. Don’t talk about having a compensation plan that rewards the top performers; get it done.
As you think about your product mix, don’t talk about ridding yourself of dated inventory; do it. Don’t talk about narrowing your product choices so that your target customer better understands what you are about; make it happen.
Don’t theorize about replenishing your best-sellers; do it religiously. Don’t just accept that consumers place a lesser value on generic goods; act on that by limiting generics in favor of real brands and relevant private-label storytelling.
Don’t talk about having a coherent and cohesive marketing strategy that merges traditional, digital, social media, website, e-commerce and in-store; make it happen.
And don’t talk about turning your store into a consistently great experience for customers. With great lighting, music, scents and customer-centric events, make it happen.
In “Thinking Fast And Slow,” Nobel Prize-winning behavioral economist Daniel Kahneman wrote: “Optimistic individuals play a disproportionate role in shaping our lives. Their decisions make a difference; they are the inventors. The entrepreneurs, the political and military leaders--not average people. They got to where
they are by seeking challenges and taking risks.”
Complaining about things beyond your control while ignoring the many things that you ought to be taking care of is, quite honestly, a smoke screen.
If you were to put together a checklist of the key elements of your respective businesses--the store, personnel, marketing, product, financials and culture--could you honestly say that you are operating at the highest level--not at the level that used to suffice, but at a level that ensures success in today’s retail environment?
We can’t ignore the broader challenges in retail but burying one’s head in the sand is a surefire way to extinction. Concern yourself less with the bear and focus on outrunning the other guy.
Peter Smith is president of Vibhor, a public speaker and author of “Sell Something” and “Hiring Squirrels.” He spent 30 years building sales teams in retail and wholesale and he can be contacted at dublinsmith@yahoo.com, peter@vibhorgems.com, or on LinkedIn, Facebook or Twitter.
Complaining about things beyond your control while ignoring the many things that you ought to be taking care of is, quite honestly, a smoke screen.
If you were to put together a checklist of the key elements of your respective businesses--the store, personnel, marketing, product, financials and culture--could you honestly say that you are operating at the highest level--not at the level that used to suffice, but at a level that ensures success in today’s retail environment?
We can’t ignore the broader challenges in retail but burying one’s head in the sand is a surefire way to extinction. Concern yourself less with the bear and focus on outrunning the other guy.
Peter Smith is president of Vibhor, a public speaker and author of “Sell Something” and “Hiring Squirrels.” He spent 30 years building sales teams in retail and wholesale and he can be contacted at dublinsmith@yahoo.com, peter@vibhorgems.com, or on LinkedIn, Facebook or Twitter.
More on Independents
The Latest
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
