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: 12/02/2022

    Claire’s sets up shops inside of Macy’s stores

    We are well aware that Macy’s has been losing its appeal, but implementing the store-within-a-store concept will help them cater to the needs of different audiences. Partnering with Toys “R” Us earlier this year has definitely proven successful for Macy’s. I believe introducing Claire’s will also help them realign the selling efforts towards the younger generations.
  • Posted on: 12/02/2022

    Was the high-traffic Thanksgiving weekend a promise of things to come?

    It’s quite clearly evident that customers wait for Black Friday and Cyber Monday sales to shop for holiday gifts. Almost every retailer had been dealing with the burden of excess inventory. Providing high discounts and deals has helped retailers bid goodbyes to inventory woes. Additionally, retailers cannot sideline the prerequisites of omnipresence. Offering products at similar pricing on eCommerce and in-stores is no never a choice. To ensure customers’ trust, pricing and offerings must be consistent across all channels.
  • Posted on: 12/02/2022

    Will Shoppable Shorts become a viral sensation for YouTube?

    Definitely a smart move by YouTube! A Product Detail Page on an eCommerce site offers a visual representation of the product, including all the necessary information. Similarly, shoppable Shorts in video format would provide a similar but more interactive PDP experience. However, the only concern here is, what would the check-out experience look like. Do customers need to fill in all their details on youtube which otherwise is by default saved when they shop from other websites? Since customers may opt-out of making a purchase because of the added task of filling in addresses and payment details. Also, customers with youtube memberships will have these details saved, so for sure, the shoppable content would be a preferable option for them.
  • Posted on: 12/02/2022

    What does the promotional climate mean for off-pricers and resale?

    Comparing off-pricers, resale markets and traditional retailers is quite irrational. Let’s see how: 1. Customers who shop from traditional retailers want to bag the latest trends and newest styles. Price is usually not a top concern while making a purchase decision. 2. Customers who look for better deals shop from off-pricers. However, it’s highly likely that the assortment would consist of lower-quality and outdated products. 3. Customers in search of unique, vintage finds prefer shopping for second-hand items. Resellers foster a treasure hunt-like atmosphere with a good number of high-end goods at low prices. Furthermore, traditional retailers offer periodic markdowns in order to clear out inventory. Off-price retailers, on the other hand, offer discounts all year. Lastly, resellers typically stock higher-end products and offer them at a discounted price. As a result, the distinction is quite obvious. All of these retailers cater to a specific customer segment and plan their merchandising strategies accordingly.
  • Posted on: 11/30/2022

    Is being the low price leader critical to Amazon’s ongoing success?

    Customers usually shop on Amazon for electronics, toys, clothing, or accessories. Undoubtedly, it is very convenient to shop from Amazon, especially for customers who have Amazon Prime membership. The wide assortment at low prices with faster shipping, what else could customers ask for? The only point of contention is that customers do not prefer to shop for groceries on Amazon. Instead, they prefer to go out and consciously buy groceries since it is more of a personal activity. Therefore, Walmart significantly benefits from its omnipresence and is likely to be a more preferred grocery shopping destination.
  • Posted on: 11/30/2022

    Retailers are using newfound clout to put the squeeze on suppliers

    During the covid outbreak, many vendors and suppliers faced inventory shortages due to the mass shutdown of factories. The outcome? In light of limited availability, they effectively charged retailers way higher prices for the goods. Similarly, if now the ball is in the retailers’ court, they are simply playing the same moves. The bottom line is, the ultimate motive for both retailers and vendors is “profit-making”. If the circumstances allow, why wouldn’t they try and leverage the opportunity? Also, as long as no one is breaking the contract or violating the terms, it's just a fair game of "demand and supply."
  • Posted on: 11/25/2022

    Will a new shopping platform redefine the formula for AI-driven personalization?

    Algorithmic shopping is the future! Browsing hundreds of styles to find that one truly desired item is time-consuming and boring. I believe shopping should be fun rather than a tiring activity, therefore, “Shoptrue” will undoubtedly be a success. Being able to easily find and shop curated stuff that is completely personalized according to preferences will definitely change the shopping-game. I am quite optimistic about the whole concept and hope more such platforms will launch soon!
  • Posted on: 11/25/2022

    How should Mary Dillon reimagine Foot Locker?

    Is it possible to shift from a “product-led” to a “consumer-led” approach by: 1. Implementing a loyalty program 2. Tracking data analytics 3. Enhancing omnichannel initiatives I’m quite confused. Isn’t Foot Locker already offering all these three initiatives? Would trying and tweaking them a bit be enough in bringing a major change? I don’t believe so. With Nike going D2C, and Adidas ending its partnership with Yeezy, there has been a lot going on. Moreover, marketplaces are slowly losing their appeal as many brands are reframing their strategic framework and establishing a direct relationships with their customers. So, we will have to wait and watch what repercussions the situation will have for Foot Locker.
  • Posted on: 11/25/2022

    Will John Lewis or Publix win the RetailWire Christmas Commercial Challenge?

    Holiday advertisements have their own charm. I believe it will be unfair to compare these two campaigns. John Lewis a Britain-based brand chose the Christmas theme while Publix being an American brand chose Thanksgiving as their subject. Both ads are innovative and promote a thoughtful message that their audiences will connect to.
  • Posted on: 11/25/2022

    Black Friday is back as record number of Americans are expected to go shopping

    Customers especially look forward to Black Friday and Cyber Monday sales to shop for holiday gifts, so the statistics are not surprising. Retailers should focus on how to capitalize on this opportunity and clear their excess inventory. Customers eagerly waited for these events, retailers must now figure out how to entice them and create a successful sales story.
  • Posted on: 11/24/2022

    Are department store shoppers getting a late start on Christmas or taking a pass?

    Whether or not to implement markdowns is no longer a question. Given the current situation, it has become obvious that customers are looking for securing the best deals and discounts. Additionally, we should expect a head-start on holiday shopping by the coming Friday. I believe only then we will be able to exactly derive the customers’ buying curve.
  • Posted on: 11/24/2022

    Will cracking down on serial returners solve retailers’ return problem?

    Tracking down serial returners? Definitely a smart move! Retailers can start maintaining customer profiles with "return credit scores." Return-prone customers can be easily identified and accordingly issued return-shipping fees plus eligible return window. Additionally, another easy way out to deal with returns is implementing omnichannel initiatives. It’s evident that customers want to experience and feel a product before actually buying it. So, brick-and-mortar presence is quite significant. Strategies like BOPIS and BORIS not only guarantee faster order fulfillment but also save retailers’ delivery and reverse shipping costs.
  • Posted on: 11/18/2022

    What price will Target and other retailers pay for their holiday sales promotions?

    Almost every retailer’s profit margins have somewhat shrunk. However, in my opinion, the decrease in sales is not a severe issue and would only prevail for a short period of time. Customers will soon get back to their old shopping habits and the economy will also improve.
  • Posted on: 11/17/2022

    Can Walmart hold onto the new, wealthier customers it is picking up?

    Convenience is the foremost factor that customers look for while making purchases. Walmart’s omnichannel initiatives are commendable. Seamless e-commerce experience with flexible pick-up options makes shopping at Walmart a preferred choice for high-income customers. Additionally, customers evaluate products on the basis of two aspects: quality and value for money. Walmart’s organic and affordable offerings also help Walmart secure a fair share of the market.
  • Posted on: 11/17/2022

    Retailers have scaled way back on seasonal help for Christmas

    Reducing seasonal hires won’t particularly affect customers’ buying experience. Retailers have analyzed how much support they actually need during the holiday season. Also, especially with high inflationary pressures, I believe retailers refraining from hiring extra help is the right move!

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