Process Innovations as the Value of Trade and Technological Processes

Relevance of the research topic. In retail, there is an active introduction of innovations in all segments, in the struggle for survival and efficiency improvement; trading enterprises are actively searching for innovative technologies, primarily IT solutions, for their implementation in trade and technological processes. Modern trends in commercial entrepreneurship are new business models, processes, technologies, products. The introduction of innovations stimulates sales, contributes to the improvement of the organization of the trade and technological process, the analysis of consumer behavior and preferences. Artificial intelligence and data analysis are transforming retail. Technological progress and trade are inextricably linked, and innovations in retail raise business to a new level. The purpose of the study: based on the analysis of various aspects of innovation processes, to identify the main business trends of process innovations in trade and the practice of their implementation in trade and technological processes. The implementation of this goal required solving the following main tasks: to identify groups of process innovations in trade; to present the introduction of innovations in trade as a process and, based on the analysis, formulate the results of the implementation of this process; to explore the prospects of artificial intelligence technologies; to analyze technological business trends on the example of network trade and logistics, etc. The author analyzes the beneficial effect of the introduction of process innovations in trade. The result of the introduction of process innovations in trade is as follows: the efficiency of trade and technological processes increases; turnover and profit increases, labor costs are reduced, the quality and speed of service increases, as well as the number of loyal customers, which ultimately provides competitive advantages. The article also focuses on trends and examples of innovation in online trading.