Retail Market Development strategies for Bedford (UK)

The report is based on the discussion regarding the retail market development and market growth of Bedford Borough in terms of the changes in the demographics of that location. The demographics of Bedford Borough have displayed significant changes over the last few years. The population of this location has grown by 9% since 2011. It has also been predicted that the population will further grow significantly within 2021. Along with the population, the market has witnessed huge growth in the birth rate while the mortality has decreased respectively. A huge portion of the population is residing within the urban location which has displayed a large number of young populations. The increased life expectancy and low mortality has also enhanced the population aged between 65 to 84 years. Therefore, the study has analysed the increased and changed behaviour of these populations towards the retail consumption of Bedford. The analysis has demonstrated that the retail industry of Bedford has significantly grown over last few years. It has secured 9.5% market share of Bedford. Therefore, it has secured the second leading position within the market. The industry has also displayed increased rate of employment within the location. On the other hand, the retail industry of Bedford mainly consists of small and medium sized organisation. It lacks sufficient number of large retail businesses. Hence, this situation can cause increased demand but low supplies in terms of the retail sector of Bedford.

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