The global retail industry experienced a 38% decline in the number of future of work-related patent applications in Q1 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 12% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q1 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 future of work-related patent applications in the retail industry was 360 in Q1 2024, versus 576 in the prior quarter.

The top five companies accounted for 15% of patenting activity

Analysis of patenting activity by companies shows that NIKE filed the most future of work patents within the retail industry in Q1 2024. The company filed 18 future of work-related patents in the quarter, compared with 23 in the previous quarter. It was followed by Snap with 12 future of work patent filings, Toshiba (9 filings), and Baker Hughes (8 filings) in Q1 2024.

Patenting activity was driven by the US with a 43% share of total patent filings

The largest share of future of work related patent filings in the retail industry in Q1 2024 was in the US with 43%, followed by China (17%) and Japan (6%). The share represented by the US was 17% higher than the 26% share it accounted for in Q4 2023.

For further understanding of GlobalData's Retail: Patents Trends Q1 2024, buy the databook here.

This content was updated on 18 April 2024

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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.