HotWax Commerce Blog

Anil Patel

Recent Posts

Should The CEO Play the Role of Chief Omnichannel Officer?

Posted by Anil Patel on Oct 14, 2020 12:00:00 AM

 

 

COVID-19 has put pressure on retailers to evolve into omnichannel businesses to succeed during this pandemic. Although the coronavirus has had a significant impact on industries such as the travel and hospitality markets, eCommerce brands have thrived. Retail sales are soaring, despite global trade wars, a U.S. Presidential election, and a raging pandemic. The National Retail Federation expects retail sales to increase between 3.5-4.1% to more than $3.9 trillion in 2020.

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Topics: omnichannel strategies

Review of Steve Dennis’ “Remarkable Retail” How To Win & Keep Customers In The Age of Digital Disruption”

Posted by Anil Patel on Oct 9, 2020 1:18:00 PM

 

 

I recently read Steve Dennis’ “Remarkable Retail: How To Win & Keep Customers In the Age of Digital Disruption” and feel that it is a must-read for retail executives across the globe. As the CEO of a technology start-up on the cusp of retail innovation that entered the industry to unify commerce and transform the customer experience, I’m always engaging in conversations about the future of retail. Steve Dennis’ book serves as an excellent guide for executives that know the status-quo won’t do but are hesitant to become truly customer-centric.

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Topics: remarkable retail

KPIs to Measure Your Omnichannel Initiatives

Posted by Anil Patel on Sep 25, 2020 7:10:44 PM

 

 

Key performance indicators (KPIs) form the foundation of companies’ future growth. For omnichannel retailers that are constantly implementing new processes, the need to monitor and measure the success of these omnichannel initiatives is a requirement, not an option. However, many retailers are struggling to define KPIs at the same pace they launch their omnichannel strategies.

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Topics: omnichannel strategies

Store Associates - Brand Ambassadors of Omnichannel Retail Success

Posted by Anil Patel on Sep 4, 2020 9:00:00 AM

 

 

Despite the increasingly digital landscape of the retail industry, brick-and-mortar stores continue to play a crucial role in a customer’s shopping journey. Customers often discover products online, then proceed to buy them in-store. Conversely, some discover products in-store and then buy online. Either way, these establishments and the team members who staff them are the key to a successful retail experience.

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Topics: omnichannel strategies

How Buy Online Return In-Store Makes Returns Blessings in Disguise

Posted by Anil Patel on Aug 28, 2020 10:00:00 AM

 

 

Nowadays, instead of “going” online, consumers live online, constantly scrolling and navigating the web for new products and experiences. It’s no surprise, then, that a majority of retailers depend heavily on online purchases for their overall revenue. However, online conversion rates are notoriously lower than in-store (1-2% compared to 20-40%), customer acquisition costs are much higher, and the average online return rate is a whopping 30%. So, what is a retailer to do, particularly about the high return rate that cuts into profits and resources? BORIS to the rescue. If you’re not familiar with the acronym, BORIS stands for Buy Online Return In-Store, and it’s a source of revenue that is often overlooked by retailers struggling to make the numbers work for their online shopping.

In this blog, we delve into the benefits of Buy Online Return In-Store for your organization, and the difference between traditional BORIS and its omnichannel counterpart.

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Topics: buy online return in store

How To Achieve Speedy Delivery With Omnichannel Order Routing

Posted by Anil Patel on Jul 31, 2020 7:27:34 PM

 

 

At this point, we’ve all shopped at Amazon at least once, right? And if you’ve shopped once, you’ve probably come back a second or third time, likely because you were pleasantly surprised by the fast and free delivery options. Unfortunately, customers cannot currently expect the same delivery convenience and speed from specialty brand retailers like JCrew, Express, Vans, and the like, despite the fact that there is technology available to accomplish this experience.

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Topics: omnichannel order routing

Progressive Web Apps: The Future of eCommerce

Posted by Anil Patel on Jul 15, 2020 7:48:00 PM

 

 

The eCommerce industry is known for constant innovations that change the face of how customers purchase items and how retailers sell their products. Recently, Progressive Web Apps (PWAs) have risen to the forefront of the retail marketplace. What’s a PWA you ask? PWAs are websites with all the benefits of mobile apps and so much more. They are mobile apps delivered through the web, enabling retailers to deliver a faster, more engaging version of their eCommerce websites to their customers.

If this benefit wasn’t enough, why else should you care about PWAs? As discussed in a previous blog, users are downloading fewer mobile apps than in previous years. In addition to this trend, responsive mobile sites are slow, leading to low conversion rates for retailers. PWA technology blends the best of mobile apps and websites by being accessible anywhere on the web without any installation friction compared to installing native apps.

In this blog, we will discuss all of the benefits and features of PWAs and why you should embrace this innovative eCommerce technology.

 

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Topics: progressive web apps

5 Ways Headless Commerce Will Transform Your Digital Business Strategy

Posted by Anil Patel on Jul 2, 2020 6:52:16 PM

 

With retailers embracing digital transformation strategies, companies’ tech leaders (VP of Digital, Chief Digital Officer, and Head of eCommerce) are now tied to their brands’ key performance indicators (KPIs) like never before. These decision-makers must invest in eCommerce solutions that form a strong foundation to support a broader digital strategy, rather than just serving as a way for customers to purchase items online. Without this foundation, retailers’ digital success will come crumbling down like a house of cards.

 

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Topics: headless commerce

How Ship-From-Store Enables One-Day and Same-Day Delivery

Posted by Anil Patel on Jun 15, 2020 9:51:59 PM

 

 

Businesses and brands across the globe are scrambling to respond to the so-called “Amazon Effect”, whereby consumers now expect deliveries within two days of placing their orders. Amazon Prime in particular aims to maximize customer satisfaction and convenience by offering one-day, same-day, and even 2-hour delivery. Many big-box retailers, like Walmart and Target, have followed suit, leveraging their extensive brick-and-mortar store networks to fulfill online orders within a shrinking delivery window. But customers aren’t just expecting this lightning-fast service from the big players in the retail industry. Brands of all sizes have begun offering fast and free delivery options in order to increase purchase rates for online shoppers and reduce shipping costs.

 

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Topics: ship from store

5 COVID-19 Retail Strategies To Maximize Sales

Posted by Anil Patel on Apr 25, 2020 3:39:33 AM

 

 

The COVID-19 pandemic has forced retailers across the globe to close their brick-and-mortar stores and quickly turn their focus to digital commerce. When this pandemic does end, whether in a few weeks or a year, retail operations will certainly not return to the pre-pandemic status quo. Most governments will continue to restrict large gatherings, and consumers will likely be apprehensive about shopping in-store for months to come. 

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Topics: retail strategies