The global retail industry experienced a 48% decline in the number of environmental sustainability-related patent applications in Q3 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 75% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of environmental sustainability-related patent applications in the retail industry was 275 in Q3 2023, versus 531 in the prior quarter.
The top five companies accounted for 45% of patenting activity
Analysis of patenting activity by companies shows that Alibaba Group filed the most environmental sustainability patents within the retail industry in Q3 2023. The company filed 91 environmental sustainability-related patents in the quarter, compared with 183 in the previous quarter. It was followed by Toyota Motor with 11 environmental sustainability patent filings, NIKE (11 filings), and Honda Motor (6 filings) in Q3 2023.
Patenting activity was driven by China with a 39% share of total patent filings
The largest share of environmental sustainability related patent filings in the retail industry in Q3 2023 was in China with 39%, followed by the US (18%) and South Korea (12%). The share represented by China was 18% lower than the 57% share it accounted for in Q2 2023.
For further understanding of GlobalData's Retail: Patents Trends Q3 2023, buy the databook here.