In the song, the narrator reveals himself to be a man who has recently ended a relationship. As the holiday season approaches, the Christmas atmosphere in his town is evident nearly everywhere, including such things as falling snow, "Christmas lights," "the corner Santa Claus," "sidewalk bands," "icy windowpanes," tinsel, and caroling choirs. As the narrator walks down the "windy winter avenue" and encounters these holiday festivities, he admits that he wishes he and his lover could reunite. Instead of encouraging the holiday spirit, the narrator hints that these elements remind him of past Christmases with his lover, only making him sad that they are no longer together. He notes that these once cheerful things no longer "seem the same," but that it is his sadness over their relationship's end that has caused such a disconnect, and that the festivities themselves are "not to blame." However, even as he encounters these sad reminders, the narrator finds room for optimism, suggesting that "it doesn't have to be that way," and that his relationship with his lover could "easily" be rekindled if they attempted to do so. He suggests that if his lover could only see him as a "lonely man" walking down the street, that she would "understand" his sadness, and agree to reunite. Finally, the narrator resolves to visit his lover's house "today," so that they can "get it together tonight," overcoming their problems to begin their relationship once more. The narrator ends the chorus by noting that his life can only be better with his lover - indeed, "it's only right."
