Doom? Gloom? Nope.

It used to be that every time I read an article about the rough retail road ahead, or watched a TV feature about the soft marketplace, I'd get a dull ache in the pit of my stomach, likely some vestige of the prehistoric fight-or-flight warning system.

These days, not so much. But no, I haven't stopped reading dire reports or watching disturbing commentaries. The dull ache just seemed to disappear somewhere between the Atlanta International Gift & Home Furnishings Market and American International Toy Fair.

While the Fed was aggressively lowering interest rates, while big boxes were realizing they had a disappointing holiday selling season, while mass marketers were lowering annual revenue expectations or — yikes! — preparing Chapter 11 filings, gift vendors were having one of their best markets in years. Even the toy industry, which suffered one of the biggest PR nightmares possible (toy recalls in the millions), last month enjoyed an enormously successful Toy Fair. It's a good thing independent retailers were too busy sourcing product to read their horrorscopes.

Then again, independents really can't be painted with the same broad brush; after all, there's no way to accurately collect and report their sales figures or revenues. These days, it's especially good to be independent — to keep distance from the “other” retail, in more ways than just financially. It's especially good to have unique product, to deliver real service, and to have a personal relationship with consumers. Because when those consumers have less to spend, they want to spend it with care. And that's exactly what they'll get from an independent retailer.

There is no doubt we're in a difficult economic period; we need to be mindful of that. But this is no time to lose heart, which is the essence of our business. We sell gifts. Our customers may not now be able to buy new appliances, new furniture or new spring wardrobes; they may not be able to redecorate their homes.

But they'll always buy gifts, because gift-giving is one of the oldest recorded traditions, probably as old as that fight-or-flight response. And it's not going away any time soon, considering the rewards of receiving and giving.

(Editor's note: Last month, the industry lost another of its giants: Enesco's founding chair, Gene Freedman. Gene's obituary can be read at www.giftsanddec.com, along with comments and sentiments from colleagues and those he touched throughout his long career. We invite you to add yours.)