Click Here to join
THE RETAILER FORUM

IN THE KNOW

February 2026

Smart Pricing Tactics to Beat Tariff Challenges

Megan Crabtree

Tariffs, taxes, and rising costs can quickly eat into profits if you’re not prepared. Staying profitable means taking control of your pricing strategy and vendor relationships.

Here’s how smart retailers are navigating the challenges ahead:

1. Track Tariffs

Tariffs can be tricky. Not all vendors itemize them on invoices, and some absorb the cost while others pass it directly to you. How will you track your margins if tariff costs aren’t listed as a line item? What will you do when a vendor doesn’t break out tariffs at all? How might these hidden costs affect your pricing decisions or profitability over time? Thinking through these questions can help you better understand where your costs are coming from and where potential gaps might exist.

2. Keep Close Vendor Communication

Before placing a special or custom order (stone size, finger size, or setting type), call your vendor to confirm updated pricing. A minor adjustment can significantly impact costs. Request new price lists regularly and verify that your current records match vendor rates.

You should get into the habit of proactively asking your vendors on a quarterly basis whether pricing has changed. This simple routine can save thousands over time.

3. Monthly Invoice Audits

Assign a team member to spot-check invoices against your cost records every month. Price increases that aren’t communicated can unexpectedly erode your margins. Regular audits may seem small, but over time they save money, maintain accuracy, and protect your business from unexpected increases. Even a random sample check of 5-10 invoices a month can uncover discrepancies before they add up.

Costar Imports
Emerald center 14K
split shank bezel set
MSRP $2,500
costarimports.com
888.726.7827

IDD
14K lab grown diamond
engagement ring with 3/4ctw
side diamonds & 2 carat center
MSRP $2,299
IDDLuxe.com
800.621.1162

Shefi
Emerald shape diamond
compozit halo hidden halo
straight shank ring
MSRP $7,900
800.76.SHEFI
shefidiamonds.com

Vlora
Modern 14K cathedral engagement ring (center stone not included)
MSRP $5,225
vlorajewelry.com
800.807.2481

Fana
Three stone 14K emerald cut bezel engagement ring (center stone not included)
MSRP $2,750
fanajewelry.com
800.433.0012

4. Centralize Pricing Access

Vendors often provide online portals with live pricing. Consolidate login credentials into onedocument for your sales associates. Quick access to current costs, especially after hours or on weekends, reduces quoting errors and helps your team provide accurate information to customers. Some management will have associates print out screenshots of the portal for visual confirmation of current costs.

5. Monitor the Market

Keep an eye on e-commerce giants and larger independents. If they adjust pricing due to rising costs, it’s often a signal to review your own pricing strategy. Awareness of market trends helps you remain competitive while protecting your margins. Consider creating a simple quarterly tracker of several top competitors to spot pricing shifts quickly.

6. Execute Thoughtful Price Increases

Price increases may be unavoidable, but they don’t have to alienate customers. Communicate the value behind your products clearly. Gradual or tiered increases, paired with promotions or loyalty programs, help maintain customer trust while keeping profits intact.

7. Make a Plan (and Stick to It)

In volatile times, a well-documented pricing strategy is invaluable. Decide how to manage tariffs, vendor adjustments, and competitive pressures, and ensure your team is aligned. Clear processes reduce mistakes, increase efficiency, and empower your staff to confidently serve customers.


Think about one area of your pricing process that could use more control. Is it tracking tariffs? Centralizing vendor pricing? Or auditing invoices? Pick one small step you can implement this week, whether it’s adding a buffer line for tariffs, consolidating portal pricing, or doing a sample invoice audit. Even incremental improvements create momentum, turning uncertainty into opportunity and setting your business up for smarter pricing decisions in the months ahead.

More From The Jewelers Collective

See More News

Press Releases