[1] It lies between the towns of Mablethorpe, Louth, Spilsby, and Skegness and acts as a local retail centre.

The town occupied an important position historically and a charter was obtained by William Well, lord of the manor of Alford, in 1283 for a market to be held on Tuesdays and two annual fairs – one at Whitsun and the other in November.

Alford Craft Market Centre is a cooperative venture selling works from local and regional craftsmen.

With help from a substantial National Lottery grant, it provides various classes and workshops to allow the public to experience art and craft activities on a regular basis.

The main market is run by the town council in the marketplace, with stalls for groceries, greengroceries, fishmongers and other items, and an auction.

The summer weekly Craft Market now takes place in the Corn Exchange and the Christmas Extravaganza at the Manor House on the first Friday in December.

In February 2019, the Alford Promotions group was set up by shop-owners and councillors to organize community events, including a Christmas Market, the first of which was held on 30 November 2019.

The main sources of employment are newer businesses on the Safelincs industrial estate in West Street and the schools, nursing homes and smaller firms.

Beeching's Way Industrial Estate in the south-west of the town includes printing and manufacturing firms, a builders' merchant and a postal sorting office.

It was built on the disused lines of the East Lincolnshire Railway from Grimsby to Boston, which closed on 5 October 1970, along with the local station.

It ceased to operate in 1955, but after two years' idle, it was restored to full working order in 1957 and is used commercially to produce stone-ground organic flour and cereal, as the only surviving windmill in the town of the three in 1932, each with a different number of sails (four, five and six).

[11][12] Other working windmills in the county remain at Lincoln, Heckington, Boston, Waltham, Kirton in Lindsey, Sibsey, Moulton, and Burgh le Marsh.

The annual events at the Manor House include a Christmas Tree exhibition, a tractor rally and a threshing day.

There is a local museum at the back of the Manor House (Hackett's Barn), displaying the time when Alford thrived as a Victorian market town.

The Corn Exchange was given by East Lindsey District Council to a specially instituted body composed solely of volunteers, as a centre for cultural, social and community activities.