This paper observes global innovation trends (GIT) of trade development including digitalization of economy. Based on a number of approaches to GIT, their conglomerate nature is shown; the lack of consistency and analysis of social and economic consequences of GIT is revealed, including major staff reductions in trade and the related sectors. It is offered to study GIT on the basis of a two-level model of global trends and social and economic implications, as well as to estimate them according to 4 subsystems: 1) GIT development including digitalization of trade and structural changes in its business processes and management; 2) identification and assessment of the GIT social and economic implications in foreign and domestic trade environment; 3) formation of damping mechanisms to compensate the negative effects of GIT in trade and enhancing their positive effects; 4) identification and implementation of positive synergistic effects. A range of suggestions to prevent the growth of SMEs bankruptcies in Russian trade and to improve efficiency of the "Digital Economy of the Russian Federation" program is given in the article.