SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales Truths
In a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
Peter Smith is a consultant to vendors and retailers and conducts sales masterclasses. He is the author of four books, including the recently released “Essentially Human, On Sales and Salespeople.” He can be reached at TheRetailSmiths@gmail.com.
Editor’s Note: This story first appeared in the print edition of the 2026 State of the Majors. Click here to see the full issue.
In 1993, Al and Laura Reis wrote “The 22 Immutable Laws of Branding,” which struck me as a totally cool name back then.
My recall of the actual laws, I confess, is less clear.
I vaguely remember one of them being about mortality, as in all brands ultimately die. Is that true?
With a nod of appreciation to the Reises, I’m stealing “immutable” for my list of truths about sales.
I hope you’ll share them within your own organizations if they resonate with you.
Perhaps you’ll even hire me to come speak about them or deliver a sales masterclass, but I digress.
1. Assume purchase intent for every client.
Assuming most customers who visit your store will not make a purchase is a statistical certainty. It is also an awful attitude and bad psychology.
Depending on your circumstances, your close rate may be 20-30 percent.
But what would happen if you assumed every person who visited your store was going to buy?
Would such a mindset not only influence your approach and body language, but also improve your close rate?
2. Customers rarely know what they want.
Psychological research suggests we are unaware of 95 percent of our thoughts. If that number is even close, asking customers what they want is a fool’s errand.
Take the time to ask relevant open-ended questions and then listen.
Questions such as, “Tell me more about that,” and “What’s most important to you about this purchase?” can reveal more than you might imagine.
3. Budgets are not real.
Budgets are interesting in a vague sort of way but rarely reflect the extent to which a customer will stretch when inspired.
If a customer shares a budget, present three options: one at the budget, one twice the budget, and a third option splitting the two.
Customers select the middle option 60 to 70 percent of the time.
4. There’s no conflict between selling and good service.
There is no conflict between providing best-in-class service and making sales. (This one is immutable.)
Pushing through resistance from customers does not diminish the experience.
It is, moreover, a baseline minimum for sales success and customer engagement.
Unless, of course, you believe the customer is better off without your products, in which case there is a whole other problem to discuss.
5. Too much information is too much.
If someone asks you what time it is, you don’t tell them how to build a clock.
Keep product information to a necessary minimum and focus on engaging customers emotionally.
Related stories will be right here …
In 1993, Al and Laura Reis wrote “The 22 Immutable Laws of Branding,” which struck me as a totally cool name back then.
My recall of the actual laws, I confess, is less clear.
I vaguely remember one of them being about mortality, as in all brands ultimately die. Is that true?
With a nod of appreciation to the Reises, I’m stealing “immutable” for my list of truths about sales.
I hope you’ll share them within your own organizations if they resonate with you.
Perhaps you’ll even hire me to come speak about them or deliver a sales masterclass, but I digress.
1. Assume purchase intent for every client.
Assuming most customers who visit your store will not make a purchase is a statistical certainty. It is also an awful attitude and bad psychology.
Depending on your circumstances, your close rate may be 20-30 percent.
But what would happen if you assumed every person who visited your store was going to buy?
Would such a mindset not only influence your approach and body language, but also improve your close rate?
2. Customers rarely know what they want.
Psychological research suggests we are unaware of 95 percent of our thoughts. If that number is even close, asking customers what they want is a fool’s errand.
Take the time to ask relevant open-ended questions and then listen.
Questions such as, “Tell me more about that,” and “What’s most important to you about this purchase?” can reveal more than you might imagine.
3. Budgets are not real.
Budgets are interesting in a vague sort of way but rarely reflect the extent to which a customer will stretch when inspired.
If a customer shares a budget, present three options: one at the budget, one twice the budget, and a third option splitting the two.
Customers select the middle option 60 to 70 percent of the time.
4. There’s no conflict between selling and good service.
There is no conflict between providing best-in-class service and making sales. (This one is immutable.)
Pushing through resistance from customers does not diminish the experience.
It is, moreover, a baseline minimum for sales success and customer engagement.
Unless, of course, you believe the customer is better off without your products, in which case there is a whole other problem to discuss.
5. Too much information is too much.
If someone asks you what time it is, you don’t tell them how to build a clock.
Keep product information to a necessary minimum and focus on engaging customers emotionally.
6. Fewer syllables are best.
When stating price, do so with the fewest number of syllables possible.
There’s a reason expensive restaurants show prices as 75 instead of $75.00.
The fewer syllables used in stating price, verbally or in writing, the more accessible the price seems.
7. Value and price have little in common.
This one is also immutable. Warren Buffett has the best quote I’ve heard on this topic: “Price is what you pay, value is what you get.”
People often confuse off-price retail with “good value.”
For me, this is a misnomer. Value is a satisfied customer, no matter what price was paid.
If the customer paid twice as much as their stated budget and loved their purchase, was that bad value?
If they paid less than they could have but had regrets, was that good value?
8. CRM is kryptonite.
Investing in customer relationship management (CRM) is imperative.
That means dedicating structured time daily to handwriting notes to customers. The notes should be personal, signed, and not a hard sell.
Shopify research shows returning customers are 70 percent more likely to close than first-time visitors and deliver a 30 percent higher average ticket.
9. Get jewelry on clients.
If you’ve ever suggested a customer try on jewelry and noticed resistance, that’s their brain saying, “If you try this on, we own it.”
Trying on something greatly increases the possibility we will buy it, not just because we like it but because our brain acts like we already own it and that makes it difficult to give it back.
10. Observe top performers.
Almost all top performers bring some personal baggage into their work.
That could be poor housekeeping, indifference to administrative tasks, or being selective about customers.
Without excusing those glass-half-empty behaviors, observing top performers can be a masterclass in sales, even if you must hold your nose while you watch.
More on Columnists
The Latest
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
