ColumnistsFeb 19, 2025
The Smart Lab: Maximizing Your Jewelry Brand on PinterestColumnistsFeb 25, 2025
Peter Smith: Here’s What I Think
Retailers need to have the right merchandise, marketing, and people in place to stay on top in a sea of uncertainty, Peter Smith writes.
Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com.
The Associated Press just reported that retail sales dropped sharply last month after a busy holiday season.
The AP article suggested that cold weather kept Americans indoors, hurting car sales and retail stores.
It went on to state that retail sales fell 0.9 percent in January after two months of healthy gains.
It also pointed to the average temperatures being the lowest since 1988, and the effects of the devastating fires in Los Angeles.
The article made no reference to plagues of locusts, bird flu, impending nuclear annihilation, or, for that matter, the price of eggs.
You know what else it didn’t mention? The fact that independent retail jewelers’ sales were up 8 percent in January, or that those same retailers have just concluded the best four-year run in the history of the business.
We are beset with uncertainty in our business at the moment.
As of press time, gold has climbed to around $2,900/ounce and, some experts believe, could soon cross the $3,000/ounce threshold.
The lab-grown vs. natural diamond debate has reached epic status with experts, prognosticators, and pundits all speaking on the issue as if they possess post-graduate degrees on the topic.
It feels like those who are most certain about what is going to happen shouldn’t be.
Here’s what I think.
Related stories will be right here …
The AP article suggested that cold weather kept Americans indoors, hurting car sales and retail stores.
It went on to state that retail sales fell 0.9 percent in January after two months of healthy gains.
It also pointed to the average temperatures being the lowest since 1988, and the effects of the devastating fires in Los Angeles.
The article made no reference to plagues of locusts, bird flu, impending nuclear annihilation, or, for that matter, the price of eggs.
You know what else it didn’t mention? The fact that independent retail jewelers’ sales were up 8 percent in January, or that those same retailers have just concluded the best four-year run in the history of the business.
We are beset with uncertainty in our business at the moment.
As of press time, gold has climbed to around $2,900/ounce and, some experts believe, could soon cross the $3,000/ounce threshold.
The lab-grown vs. natural diamond debate has reached epic status with experts, prognosticators, and pundits all speaking on the issue as if they possess post-graduate degrees on the topic.
It feels like those who are most certain about what is going to happen shouldn’t be.
Here’s what I think.
The rising tide that lifted almost all retail jewelry boats since late 2020 is likely receding. The days of business growth without business innovation are numbered.
If you’re executing like you were executing even five years ago, you’re probably losing business.
If you value tenured employees over talented employees, you’re losing ground.
If your compensation is not meritocracy based, you won’t attract or retain the best talent.
If your marketing hasn’t fundamentally evolved in recent years, you need to rethink your strategy.
If data and automation are not your friend, you are missing business.
If you don’t have a coherent digital strategy, you don’t have a strategy.
If your showcases are still overflowing with product, you’re not paying attention.
If you still think you make money by buying, you’re not paying enough attention to selling.
If your idea of sales training is more product information, I’ve got a bridge to sell you.
Have you heard the one about the bear chasing the two jewelers?
One jeweler stops to tie his shoelaces and the other jeweler says, “Are you nuts, you can’t outrun the bear,” to which his friend replies, “I don’t need to outrun the bear, I just need to outrun you.”
Things will happen, including things that are outside of our control.
We can use them to rationalize and justify underperformance, or we can get busy executing on all of the controllables.
Happy retailing!
More on Columnists
The Latest
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing WorkersOwners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and DesignA 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into HardstonesThe “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”
Weekly QuizFeb 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsFeb 26, 2026
Noonans to Auction Lady Wardington’s JewelryThe jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers SaleThe update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
CrimeFeb 26, 2026
Three Sentenced in California Jewelry HeistEach received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.
Events & AwardsFeb 26, 2026
GIA Names 2026 Jewelry Design Contest Winner, Retires Annual AwardCatherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
SourcingFeb 25, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
EditorsFeb 25, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
