All Optimistic on the Retail Front

It was, to be sure, an example of serendipitous timing. With the Commerce Department reporting on Tuesday that June retail sales were up by 0.6%, more than 600 institutional investors descended upon the Oppenheimer Consumer, Gaming, Lodging & Leisure Conference in Boston to be convinced that the future of retail is -- well, let's just say to be convinced that there is a future.

"Retailers and brands cannot be afraid of the word 'recession,'" Marshal Cohen, chief industry analyst at NDP Group said in his keynote address. "Consumers can deal with it if the retailer learns how to address their new mentality."

Cohen predicted that consumers will open their wallets for innovative products and ideas -- but not those who are simply hoping to ride out the recession until the economy returns to "normal." ...