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.

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!
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The trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.

Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.

Jewelry industry veteran Alisa Bunger has taken on the role.

The upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.

The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.


“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.

The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.

The line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.

The rough on offer was recovered from a newer area at the Montepuez mine.

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

The champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.

Kosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.

Carlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.

The brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.

Proceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.

Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.

Citizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.

The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.

Amit Pratihari was previously the managing director of De Beers India and Forevermark India.

Members of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.

Gomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.

Diamond industry banking veteran Paul De Wachter will take on the role in January 2026.

Taylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”

Its “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.

Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.

“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.