The global retail industry experienced a 39% decline in the number of social responsibility-related patent applications in Q3 2024 compared with the previous quarter. The total number of social responsibility-related grants dropped by 35% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of social responsibility-related patent applications in the retail industry was 85 in Q3 2024, versus 139 in the prior quarter.
The top five companies accounted for 48% of patenting activity
Analysis of patenting activity by companies shows that NIKE filed the most social responsibility patents within the retail industry in Q3 2024. The company filed 31 social responsibility-related patents in the quarter, compared with 50 in the previous quarter. It was followed by Decathlon with 4 social responsibility patent filings, Under Armour (2 filings), and Lululemon Athletica (2 filings) in Q3 2024.
Patenting activity was driven by the US with a 36% share of total patent filings
The largest share of social responsibility related patent filings in the retail industry in Q3 2024 was in the US with 36%, followed by Japan (14%) and China (12%). The share represented by the US was 4% higher than the 32% share it accounted for in Q2 2024.
For further understanding of GlobalData's Retail: Patents Trends Q3 2024, buy the databook here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
