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.
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  • Posted on: 05/24/2022

    Do consumers want highly-personalized fridges?

    Samsung's strategy is excellent, but it is also difficult to implement. Customers may experience choice paralysis and select inappropriate product features, resulting in a ruined product experience, which poses a significant risk to retailers. Retailers must ensure that they limit clients' options without making them feel restricted. Customers desire the ability to pick, and this is what they should feel when purchasing customised appliances.
  • Posted on: 05/24/2022

    Amazon tests same-day delivery from malls

    Over the years, I've seen Amazon experiment with numerous initiatives to improve its fulfillment capabilities. They first test new products and services within their ecosystem before making them available to other retailers. Speaking of small retailers, they are incapable of developing these lightning-fast fulfillment capabilities on their own. They will undoubtedly use the services of Amazon, Walmart, or Target. However, these brands are notorious for stealing utilising sellers' data to develop their own products, putting small retailers' sales at risk.
  • Posted on: 05/24/2022

    Can Old Navy plot a new course and keep its inclusivity pledge?

    Good deeds may not necessarily result in increased revenue. By tying sales to I&D goals, corporations convey to all stakeholders that they're really interested in the moral desert rather than making a real social change. Instead of doing good deeds just for the sake of doing them, retailers must first understand their customers and then redefine their ICPs. This will allow them to be linked with only those customers who support their inclusivity efforts and other values.
  • Posted on: 05/24/2022

    Would grocery delivery be a healthy addition to Apple’s business?

    Apple as a brand represents extreme specialisation, customer-centricity, and an intention of simplifying the lives of its customers. So irrespective of what service it launches, Apple will try to inculcate the same principles in each of its offerings and be one of its kind in it.
  • Posted on: 05/23/2022

    Will Kohl’s make a better deal for itself after an activist investor loses board vote?

    Besides their monetary offer, the working knowledge of the retail business should be a crucial criterion for Kohl’s to shortlist bidders. Only those who have a proven record of running a successful retail business will be able to ensure a bright future for Kohl’s.
  • Posted on: 05/20/2022

    Is the retail sky falling?

    I am a true believer in the saying “crisis is the mother of invention.” The current ongoing turbulence is going to lead some businesses coming with innovative and fresh ideas to navigate through these turbulent times.
  • Posted on: 05/20/2022

    C-store customers want an app to order ahead

    BOPIS, pre-pay, curbside pick up, and last mile delivery have become table stakes for every single retailer, even more so for convenience stores. However, retailers should not be expecting a steep hike in sales after implementing omnichannel capabilities. These services definitely make shopping experience highly convenient for customers, improve ROI on inventory, and lower operational costs but they will not result in magical boost in sales.
  • Posted on: 05/20/2022

    Are executive departures at Kohl’s a sign of things to come?

    While merchandising and marketing executives’ resignations are unfortunate, they do not indicate a leadership crisis. Investors and other forces have certainly caused turmoil, but as an optimist, nothing appears to be too great to bring Kohl's down. Even if it is acquired, the investors will aim to grow the business to maximise their return on investment. Employee morale is bound to suffer as a result of these events. However, leadership must make every effort to convey any strategic updates to all employees in a transparent manner. This boosts morale, and if employees do not share the organization's mission, they will be replaced quickly which is ultimately good for the organization as those employees who do not believe in its mission pose a greater threat than those who leave.
  • Posted on: 05/19/2022

    Are shoppable ads finally ready for prime time?

    Customers are influenced to purchase things after seeing their favorite celebrities use them. This means that retailers are not required to sell directly to customers given that product placement in TV shows is done right. The desire to own those things combined with the ease of shopping for them by clicking on a single link leads to impulse purchases. This will almost certainly boost conversions from shoppable advertisements.
  • Posted on: 05/19/2022

    Walmart and Target report higher sales and lower margins

    Retailers' input costs have surely grown due to inflation. In this case, retailers can either protect their profit margins by passing on the increased cost to their customers, or they can keep their customer base by absorbing the increased cost as long as it does not diminish their profitability. Walmart and Target chose the latter option, which I believe was a deliberate move. Given that such high inflation doesn't persist forever, they will be able to improve profit margins in upcoming quarters. However, reacquiring customers is extremely difficult and often costly.
  • Posted on: 05/19/2022

    Should Apple have killed the iPod?

    My sole answer to this article is for Apple lovers who have loaded up on Apple devices, including the iPod, to go find their iPods and store them safely. iPods are now worth more than what you paid for. True Apple lovers will gladly pay enough for these iPods to help you in buying your new gadgets.
  • Posted on: 05/18/2022

    Which exec role should guide the path to the metaverse?

    Customer experience and design leaders can gauge their customers' readiness for new digital technologies. Customers' readiness is one of the most critical aspects of a new product launch because even the best technologies will fail if customers are unable to engage with them. Moreover, brands should begin incorporating metaverse in minor ways to familiarise customers with this new notion. These new introductions must add value to the customers’ lives or they will eventually phase out.
  • Posted on: 05/18/2022

    Will Walmart’s career path strategy give it a recruiting advantage?

    Companies like to hire freshers for entry-level positions for a variety of reasons. However, most of the time fresh college graduates lack the necessary skills to perform their tasks efficiently. The only practical alternative, in this case, is to train them on the job. Internship programs make perfect sense in this situation because:
    • Training students during their education will prepare them for work immediately after graduation.
    • During college, students will be more open to learning.
    • Students might expect lower compensation because they are concentrating on skill development.
    • Students and organizations will be able to determine whether they are a good fit for one another during the internship.
  • Posted on: 05/17/2022

    Are smaller retailers getting crushed by the supply chain mess?

    Small retailers have been impacted the hardest by the supply chain issue. And I don't think they'll be able to walk out of this situation unscathed. The solutions listed above are undoubtedly impractical for a small retailer.
  • Posted on: 05/17/2022

    Nordstrom Local is summering in the Hamptons

    Pop-ups make total sense for Nordstrom locals. These pop-ups act like showrooms for Nordstrom's customers and undoubtedly boost the retailer's omnichannel ambitions as part of its "closer to you" strategy.

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