4 October 2023

Digital Technology Guru

Digital Technology Guru Reviews

Emerging and Accelerating Innovations that are Shaping the Retail Industry

2 min read
Emerging and Accelerating Innovations that are Shaping the Retail Industry

Innovation in the retail industry follows a distinct lifecycle known as the S-shaped curve. This curve represents the journey of innovations from early emergence to accelerating adoption, before stabilizing and reaching maturity. Understanding where a particular innovation stands on this curve is crucial for predicting its future impact and trajectory.

GlobalData’s Technology Foresights report identifies over 50 innovation areas that will shape the future of the retail industry. Within the emerging stage, disruptive technologies such as on-demand digital manufacturing, planogram optimization, and AR-assisted shopping are gaining traction. These innovations are still in their early stages of application but should be monitored closely.

The report also highlights accelerating innovation areas, where adoption has been steadily increasing. These include location-based personalization, personalized lookbooks, and self-checkout. On the other hand, in-store shopping assistance and digital signage personalization are examples of maturing innovation areas that are now well established in the industry.

One significant innovation area in the retail industry is on-demand digital manufacturing. This process utilizes technologies like computer-aided design and 3D printing to manufacture products tailored precisely to customer needs. On-demand digital manufacturing optimizes workflows, eliminates the need for conventional tools or molds, and offers retailers greater flexibility while reducing costs and improving operational efficiency.

GlobalData’s analysis also reveals the key players in each innovation area. For on-demand digital manufacturing, leading patent filers include Levi Strauss, Carl Zeiss Stiftung, Best Apps, and eBay. These companies are at the forefront of technological advancements and are actively developing and applying on-demand digital manufacturing in various applications and geographies.

To enhance your understanding of the key themes and technologies disrupting the retail industry, you can access GlobalData’s thematic research report on Retail.

– GlobalData’s Technology Foresights report on the retail industry
– GlobalData’s Patent Analytics data and analysis