PROFILE

Anil Patel

Founder & CEO, HotWax Commerce

Anil Patel is the founder and CEO of HotWax Commerce, a cloud-based Omnichannel Order Management solution that provides retailers with the best return on their inventory by facilitating omnichannel solutions such as same-day Buy Online Pick Up In Store (BOPIS), Buy Online Return In Store (BORIS), Ship From Stores, Pre-Order management and Store Fulfillment to increase conversion rates and profitability.

Anil Patel brings over 25 years of business and technology experience having led award-winning development projects for Quest Telecom, Volvo Commercial Finance, US Bank, Herman Miller, Cabi, United Airlines, and many more. As CEO of HotWax, Mr. Patel works closely with CDOs and CMOs of fashion brands to deliver a unified commerce experience and delight consumers across the globe. Outside of the corporate world, Mr. Patel is deeply engaged in his community, leading the Zero Budget Natural Farming (ZBNF) initiative in India.

To learn more, visit: hotwax.co

Anil Patel is the founder and CEO of HotWax Commerce is a cloud-based Omnichannel Order Management solution that provides retailers with the best return on their inventory by facilitating omnichannel solutions such as same-day Buy Online Pick Up In Store (BOPIS), Buy Online Return In Store (BORIS), Ship From Stores, and Pre-Order management to increase conversion rates and profitability. Anil Patel brings over 25 years of business and technology experience having led award-winning development projects for Quest Telecom, Volvo Commercial Finance, US Bank, Herman Miller, Cabi, United Airlines, and many more. As CEO of HotWax, Mr. Patel works closely with CDOs and CMOs of fashion brands to deliver a unified commerce experience and delight consumers across the globe. Outside of the corporate world, Mr. Patel is deeply engaged in his community, leading the Zero Budget Natural Farming (ZBNF) initiative in India.
  • VIEW ARTICLES
  • VIEW COMMENTS
  • Posted on: 08/05/2022

    The Nordstrom tire return story is true

    The key to forming a value proposition is holding a clear understanding of your Ideal Customer Profile. A brand must act in a way that best suits its target audiences. Moreover, there is a thin line between doing something for the customer and doing something right for the customer. Therefore,
    1. Definitely, sometimes going out of the way for customers is important;
    2. Again, there’s a fine line between conveying the brand’s culture and bragging.
    Retailers must share their stories with an intention of communicating their culture and who they are. So I believe sharing stories is important, but the manner in which you communicate also holds significance.
  • Posted on: 08/05/2022

    Will H-E-B’s self-checkout pilot take off?

    Post-COVID-19 era, the checkout procedures are transforming. The Fast Scan by H-E-B is in the pilot stage so it’s quite apparent that they are running a trial to gather the actual customer response data. Many brands are experimenting with their checkout processes. Among these, the checkout process that will be easily adopted by most customers will win. So before scaling the pilot for a larger audience the retailers must evaluate the following points:
    1. Who is their target audience?
    2. Does the system align with the audience's needs?
    3. Is the solution feasible?
    ​​If we won't try new things, we won't be able to evolve. However retailers must do a 360° evaluation before deploying any new idea.
  • Posted on: 08/04/2022

    Should the cryptocurrency crash scare retailers?

    Many individuals don't understand cryptocurrency and those who do regard it as an investment tool rather than a means of exchange of payment. On this topic, the perception of people's awareness that we have is probably not true. Undoubtedly some retailers will make an investment in this concept, but has the moment come to go mainstream? I think it’s more of a wait-and-watch situation. The bigger issue here is, even after implementing the entire process and investing a significant sum of money, would the customer base use the cryptocurrency to make payments? It remains a question. On top of that, retailers still struggle to accurately track their inventory levels and can't even efficiently implement a simple digital experience like BOPIS. Therefore, I believe retailers should re-think their priorities. Instead of experimenting, they should first make investments where the profits are obvious.
  • Posted on: 08/04/2022

    Will Amazon deliver same-day results for GNC, PacSun and other retailers?

    Amazon has a history of analyzing the brands and their products featured on its marketplace for the sake of its own in-house brands. Fashion retailers need to be aware of the fact that Amazon has already begun rolling out its own physical fashion stores. After learning in-depth about BOPIS and same-day delivery, Amazon might use this knowledge to augment its own stores. Therefore, there may be a substantial risk involved for retailers.
  • Posted on: 08/03/2022

    Are Rent The Runway’s second-hand clothes the perfect fit for Saks Off 5th?

    Saks Off 5th has come up with a remarkable idea. People visit stores like TJ Maxx to shop for bargains. As purchasing high-end products at a discount excite them. However, luxurious goods sold at factory outlets or at off-price retail are usually of lower quality and are specifically made for this market. On the contrary, at Saks Off 5th genuine luxury products will be available at a lower price. Therefore, it’s a great proposition for buyers. It doesn't matter that the available products are “second-hand” as long as they are not damaged. So definitely it’s a great opportunity for all the aspirational buyers. The only question here that remains unanswered is “How will luxury brands perceive this concept?” since their USP revolves around presenting exclusive products at premium prices. So, will the concept dilute the luxury brands? We will have to wait and see how the complete picture unfolds.
  • Posted on: 08/01/2022

    Are mobile devices creating connected store associates yet?

    The massive Home Depot stores carry a diverse product assortment and have a varied buyer demographic. Their strategy of providing employees with purpose-built mobile devices is effective and should be commended. Home Depot’s store associates are sincere in their assistance and consultation. As the tools are specifically designed to make their job easier, associates will be able to answer customers' queries more quickly. Especially, looking-up specific products among thousands of products can be done in a mere few seconds. This will further augment the customer's buying experience. However, every retailer is not required to replicate the exact Home Depot’s framework. To enhance the customer experience, they must strategically plan which tools they can provide to the associates according to their business requirements.
  • Posted on: 08/01/2022

    Will the ‘Buy Now, Pay Later’ model overcome economic and regulatory challenges?

    Customers have embraced the “Buy Now, Pay Later model.” However, BNPL providers are in a precarious position as the number of defaulters may increase over time. Nonetheless, it is too early to predict whether or not the model will fail. Over time even if it does, new service providers will enter the market to seize the opportunity. When talking about Apple, they are well-established. By offering “Buy Now Pay Later” loans they can clearly see an increased customer base. Even if there are some risks, Apple's position will not be compromised.
  • Posted on: 07/28/2022

    Will Target’s ‘stores-as-hubs’ strategy get turbocharged by sortation centers?

    Target is efficiently implementing “omnipresence.” Ship-From-Store strategy devices enable faster movement of inventory, and on top of that, ensure speedy order fulfillment. Target’s sortation centers will assist in improving the efficiency of stores. Store executives focusing on their core operations and access to more in-store space will further aid in improving the store KPIs. One-day delivery can be achieved using Shipt. So, I think the overall strategy is quite remarkable and Target can successfully bring optimization in all its spheres.
  • Posted on: 07/28/2022

    Best Buy offers a new way to shop with its first-ever digital-first small box store

    Best Buy is coming up with an interesting futuristic concept. Replacing in-store assistance with virtual assistance from experts sounds promising. But to determine the viability, we’ll have to wait and observe how well the idea is brought into reality. Revamping traditional practices and introducing the “Grab and Go” system will certainly make customers’ lives easier. With this, waiting in long queues and following the stringent process-oriented check-outs can be completely eliminated. If implemented rightly, the strategy could deliver favorable results.
  • Posted on: 07/27/2022

    When will supply chains return to normal?

    Persistent supply chain issues have taken a toll on many retail brands. COVID restrictions utterly disturbed the business operations. As several factories were shut down, restarting the complete maneuver takes time. Nevertheless, the issues should have been resolved by now, as the COVID restrictions have been lifted and the brands are up and running. I think that retailers' resistance to change is the foremost reason why they are still struggling with supply chain disruptions. A lot has changed in the course of the past few years. Therefore, holding onto the processes and techniques followed pre-COVID won’t deliver the intended results. It is time to let go of traditional legacy practices and adopt new innovative mechanisms. Retailers need to stop blaming surging inflation, Russia-Ukraine tensions, and hiked fuel prices for the lack of their own capabilities. In fact, these crises have laid down an excellent opportunity to bring innovation to the supply chain. Gen Z and Millennials are striving to revamp their businesses by implementing out-of-the-box solutions. To compete, Gen X and Baby Boomer retailers must embrace technological advancements. The transformations will definitely help resolve the ongoing supply chain challenges.
  • Posted on: 07/27/2022

    Are digital-only coupons discriminatory against the elderly and poor?

    Offering coupons and discounts are a part of retailers marketing campaigns. Here, I don’t see a need to bring up the subject of equal rights for the elderly and lower-income households. The coupons are certainly not a social welfare program. Therefore, it’s not a requisite for all income groups to have an access to those. Retailers usually implement such tactics to cater to a particular target audience. If they are intending to aim at a digital audience, the strategies will be explicitly framed for them. Although, some retailers do try to offer a similar customer experience in stores as well. Costco is an apt example of such a case. If a product has an applicable coupon, the executive will automatically apply it during the checkout process. Ultimately, it’s all about acquiring and retaining customers. To get the desirable results, some retailers may choose to plan strategies differently from the rest.
  • Posted on: 07/25/2022

    Macy’s keeps going small and off-mall

    A continuous and comprehensive evaluation of strategies is required to keep up with highly dynamic retail trends. Smaller format stores can lay out a way to provide a more personalized customer experience. A focused product assortment and increased convenience of shopping from stores lead to more confident buyers and ultimately higher sales. Achieving this will require a fact-based analysis with an intention to pin down the exact proportions for mall-based and off-mall locations. Speaking of Macy’s, they should retain the mall-based stores where the footfall is evidently high. However, the "dual offering" concept doesn’t look that appealing. Mixing contrasting offerings, Market by Macy’s and Macy’s Backstage off-price store can create confusion among buyers. It’s a human tendency -- the customers who prefer shopping for exclusive products won’t visit a place featuring markdowns. The decision to combine these two may prove overkill for Macy’s.
  • Posted on: 07/21/2022

    Will Toys“R”Us kids help Macy’s have a very merry Christmas?

    Macy’s has always been a great shopping destination during the holiday season. Pretty much every person visits Macy's to shop for holidays. Undeniably, they have great product assortments. Toys “R” Us's comeback with Macy's at this time is an excellent move and would definitely help the brand to make a remarkable new start. Customers do not buy toys and gifts out of necessity, rather they make such purchases impulsively. To further augment the audience, Toys “R” Us is making a comeback with new flavors. People are more accustomed to buying toys from physical stores. Considering this, the brand has planned various engaging activities to make shopping a pleasurable experience for kids. Additionally, each store will also hold a nine days in-store event, the attractive giveaways will definitely pull a larger crowd. So I think the relationship will be mutually beneficial for both, Macy’s and Toys “R” Us.
  • Posted on: 07/21/2022

    Is luxury retail’s sweet spot?

    People have developed an increased interest in polishing their quality of life. Not only the consumers with high disposable income but also those with moderate earnings are sliding into the world of luxury. The foremost reason is the pandemic. People have learned life lessons the hard way, embracing uncertainty has become the new normal. Amid so many crises, from lockdowns to skyrocketing inflation to the Russia-Ukraine war, people have reconciled their contemplations. With the expanded horizons, they are now consciously thinking over their desires. Post-pandemic, with new priorities, consumers now want to explore more, travel, and spend on products and experiences that make them happy. Additionally, tremendous advancements in tech have also contributed to fueling demand in the luxury market. With new trends and technological innovations, the upper-middle class consumers are also seeking to upscale their earnings. So as a consequence, the dominance of the luxury market will continue to prevail.
  • Posted on: 07/20/2022

    Hasbro wants to put all our faces on action figures

    The future of personalization seems promising. Hasbro has come up with an innovative idea. Today, one of the prime success drivers for retailers stands in providing customers with unique experiences. The use of 3-D printing and augmented reality can align well with the audiences of many retailers. It certainly holds great potential in businesses catering to the home improvement division, fashion accessories like jewelry, and boutiques specializing in gifting. People like customized products and are willing to spend more to have such experiences. So this concept will employ customers' disposable money. Retailers can up their game with such creative offerings.

Contact Anil

Name(Required)

  • Apply to be a BrainTrust Panelist

  • Please briefly describe your qualifications — specifically, your expertise and experience in the retail industry.
  • By submitting this form, I give you permission to forward my contact information to designated members of the RetailWire staff.

    See RetailWire's privacy policy for more information about what data we collect and how it is used.