The global retail industry experienced a 55% decline in the number of customer loyalty-related patent applications in Q2 2023 compared with the previous quarter. The total number of customer loyalty-related grants dropped by 35% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Customer Loyalty in Apparel – Thematic Research report identifies the important themes and companies that have made a mark in the apparel sector, and explains the geographical dynamics of the market. Buy the report here.
Notably, the number of customer loyalty-related patent applications in the retail industry was 183 in Q2 2023, versus 403 in the prior quarter.
The top five companies accounted for 15% of patenting activity
Analysis of patenting activity by companies shows that Capital One Financial filed the most customer loyalty patents within the retail industry in Q2 2023. The company filed 8 customer loyalty-related patents in the quarter, compared with 10 in the previous quarter. It was followed by Suzuken with 6 customer loyalty patent filings, Groupon (5 filings), and Geotab (5 filings) in Q2 2023.
Patenting activity was driven by the US with a 79% share of total patent filings
The largest share of customer loyalty related patent filings in the retail industry in Q2 2023 was in the US with 79%, followed by Japan (5%) and China (4%). The share represented by the US was 19% higher than the 60% share it accounted for in Q1 2023.
For further understanding of GlobalData's Customer Loyalty in Apparel – Thematic Research buy the report here.