Columnists

Squirrel Spotting: Don’t Sell Spoiled Milk in December

ColumnistsOct 22, 2019

Squirrel Spotting: Don’t Sell Spoiled Milk in December

Jewelers should not treat the holiday season as the most wonderful time of the year for moving old merchandise, Peter Smith writes.

peter-smith.jpg
Peter Smith is president of Memoire and author of two books, “Hiring Squirrels,” and “Sell Something.” Connect with Smith on LinkedIn or at dublinsmith@yahoo.com.
There has long existed a truism in our business that if we have products that are long past their sell-by date, we ought to just hang in there until Christmas in the hope those pieces will benefit from the holiday euphoria and find a willing buyer.


We’ll often comfort ourselves with the thought that we don’t need to stress over dated products as we believe that this Christmas, this holiday season will be the one when customers finally wake to the reality of how great those products really are.
I mean, you bought them, or made them, so why wouldn’t customers share your excitement about how great those goods are?
Alas, there are a few flies in that soup.
First of all, even though the Christmas season remains a time for optimism, we must now contend with the reality that less and less of the business happens in the post-Thanksgiving period.
Sales are now spread throughout the year, with fewer customers waiting until December to make their purchases.
With less traffic during the November/December period, there are far fewer opportunities for customers to respond to your slower-moving products. The controlled madness that used to define the season has now given way to a new normal, with more measured traffic counts and fewer certainties.
Sell your best during the holiday 
Secondly, the need to give the customers who are coming into your store a great experience has never been more important. Expecting that to happen by exposing them to your worst-performing jewelry is optimistic at best, and perhaps even misguided.
Surely you would prefer your precious customers to experience the best of what you have.
The safest way to ensure that customers return to your store is to mitigate friction for them, and there is no greater friction than buying the wrong products. Don’t we want our customers to feel great about their decision to visit us, and the choice he or she made?
Save your dated inventory for a blowout sale during your slowest time of the year.
Building an event around inventory reduction can be effective if it is a departure from your normal business practice, and provided it is legitimate with the product and discounts as advertised. Transparency and authenticity are no less important for closeouts as for non-discounted sales.  
Sell your best during the holiday season and save the off-price for off-season.
If you want to try and sell an iPhone 4 in the age of iPhone 11, be clear about what it is and let the customer decide if they want that deal.
Don’t try to sell them spoiled milk and tell them it’s cheese.
Peter Smith is president of Memoire and author of two books, “Hiring Squirrels: 12 Essential Interview Questions to Uncover Great Retail Sales Talent,” and “Sell Something: Principles and Perspectives for Engaged Retail Salespeople.” Both books are available in print or Kindle at Amazon.com. Connect with Smith on LinkedIn or at dublinsmith@yahoo.com.
Peter Smithis an industry consultant, speaker, and sales trainer, and author of 3 books on sales. Reach him at TheRetailSmiths@gmail.com.

The Latest

Kraft Mac & Cheese x Ring Concierge Forever Macaroni Necklace
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Angely Martinez emerald Promise ring
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise Ring

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

Stuller 2025-2026 bridal catalog
MajorsMay 02, 2025
Stuller’s New Bridal Catalog Is Here

“Bridal 2025–2026” includes popular styles and a dedicated section for quick pricing references of lab-grown diamond bridal jewelry.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Americut Gems
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple Effect

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

Weekly QuizMay 01, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Exterior of new David Yurman store in the Miami Design District
MajorsMay 01, 2025
Peek Inside David Yurman’s New Miami Flagship Store

Located in Miami’s Design District, the 4,000-square-foot store is an homage to David and Sybil Yurman’s artistic roots.

Oscar Heyman emerald and diamond necklace
TrendsMay 01, 2025
Amanda’s Style File: 20 Pieces of Emerald Jewelry for May

May babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.

ejap cohort 1872x1052.png
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs

Six new retail businesses were selected for the 2025 program, which began in January.

Jewelers of America logo
MajorsMay 01, 2025
Jewelers of America Opens Applications for 2025 Scholarships

The deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.

Stock image of an empty clothing store
SurveysApr 30, 2025
Consumer Confidence Hits Pandemic-Level Low Amid Tariff Concerns

What’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.

2025 Instore Jewelry Show Graphic
Events & AwardsApr 30, 2025
Instore Show Debuts New Name, Look, and Focus

Now called The Instore Jewelry Show, it will include holiday-focused education, interactive workshops, and a window display contest.

GemWorld GemGuide logo
SourcingApr 30, 2025
GemGuide Has a New Pricing Chart for Colombian Emeralds

It includes pricing for unenhanced Colombian emeralds in the fine to extra fine range.

Tiffany & Co. Sea Turtle Ring
CollectionsApr 30, 2025
Tiffany & Co. Goes Deep-Sea Diving in New Blue Book

The “Sea of Wonder” collection features pieces inspired by the ocean, from its waves to flora and creatures like urchins and sea turtles.

Golconda Blue
AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From Auction

The 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.

G.B. Heron Jewelers sign
IndependentsApr 29, 2025
Maryland Jeweler to Close After 36 Years

G.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.

Gemfields rough rubies
SourcingApr 29, 2025
Gemfields Mini Ruby Auction Achieves $7M

The miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.

Counterfeit Van Cleef & Arpels Alhambra jewelry
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels Jewelry

U.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.

Suzanne Kalan Tech Ring Jacket Collection
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket Collection

Health monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.

JCK Industry Fund
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant Recipients

Ten organizations were selected this year.

Kim Carpenter and Sam Gevisenheit
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale Team

Kim Carpenter and Sam Gevisenheit have joined the brand.

Sylvie Jewelry Auranova Collection Campaign Imagery
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection

“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.

Pomellato Nudo toi et moi ring
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%

Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.

Deborah Meyers Experience The Birds Earrings
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ Earrings

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

Melee diamonds from De Beers
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid Uncertainty

The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.

LIM-401 2024 National Jeweler Supplier Bulletin- iD100 Web and Eblast FINAL (1).jpg
Supplier BulletinApr 24, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Wolf CEO Simon Wolf
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. Expansion

Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

Iowa jeweler Herman Ginsberg
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy