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!
Editors' Picks
Sponsored by
More on Columnists
The Latest
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
Weekly QuizFeb 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
IndependentsFeb 05, 2026
Borsheims to Undergo Massive Renovation in the Spring The Omaha jewelry store’s multi-million-dollar renovation is scheduled to begin in mid-May and take about six months.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CollectionsFeb 05, 2026
Marco Bicego’s Amethyst Collection Travels to a Purple ParadiseThe “Paradise Amethyst” collection focuses on amethyst, pink tourmaline, garnet, and 18-karat yellow gold beads.
FinancialsFeb 05, 2026
Watches of Switzerland Reports Strong Holiday Results in Q3The retailer credited its Roberto Coin campaign, in part, for boosting its North America sales.
MajorsFeb 04, 2026
What Designers Should Know About Saks Global’s BankruptcyFrom how to get an invoice paid to getting merchandise returned, JVC’s Sara Yood answers some complex questions.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
Policies & IssuesFeb 03, 2026
Tariff Relief on Horizon for India as Trump, Modi Make DealPresident Trump said he has reached a trade deal with India, which, when made official, will bring relief to the country’s diamond industry.
CollectionsFeb 03, 2026
Jade Trau Releases New Charms, Introduces RondellesThe designer’s latest collection takes inspiration from her classic designs, reimagining the motifs in new forms.
WatchesFeb 03, 2026
Casio America Calls Jersey City HomeThe watchmaker moved its U.S. headquarters to a space it said fosters creativity and forward-thinking solutions in Jersey City, New Jersey.
SourcingFeb 03, 2026
Nivoda Reveals Upgraded Gemstone MarketplaceThe company also announced a new partnership with GemGuide and the pending launch of an education-focused membership program.
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
