Richard Liu Qiangdong Talks JD.com

 

Last year, Richard Liu Qiangdong visited Dallas, Texas for an interview with Davos-Klosters. In the interview, Liu Qiangdong talked about starting his company and building it from the ground up. He also revealed some personal facts that helped shape JD.com into what it is today.

Visiting Dallas wasn’t just about giving an interviewing. Richard Liu Qiangdong loves meeting people from around the world and hearing what they have to say. No business can grow internationally if its leadership isn’t listening to global opinion. In Liu Qiangdong’s words, he values times when he gets to hear from new people.

People also like hearing from Richard Liu Qiangdong. Liu Qiangdong’s story of success is inspiring to many people around the world. He built one of China’s most successful online companies out of nothing. Every entrepreneurial venture he took before 1998 failed, including a restaurant that went completely belly up.

His family was poor throughout his childhood, and his first degree was in sociology. After moving to the big city, he wanted to go into politics but quickly learned none of the jobs offered much money. Sadly, his grandmother fell sick, and he needed money to help pay for her treatment. See This Page for additional information.

With no money coming in, he learned computer programming and started taking freelance coding jobs. Eventually, he started making good money and put himself through business school. With an EMBA, he took a job at Japan Life, a health product company. He worked there for two years, playing various roles in the company until he wanted to give entrepreneurship another shot.

In 1998, Liu opened a magneto-optical product store in Beijing. He named the little four-square-meter store Jingdong. By 2003, he operated 12 Jingdong stores in the region. Unfortunately, 2003 was the same year of the SARS outbreak, which made face-to-face contact hazardous.

In 2004, he moved his business online, and by 2005, Liu Qiangdong had closed all of his brick-and-mortar stores. The newly branded JD.com soon attracted international attention and became one of the biggest Nasdaq floats after the company went public.

 

See Also: https://www.thecasecentre.org/students/products/view?id=148717

JD.com is Making The Convenience Store Even More Convenient

 

Now that the holidays are over, many Americans are reviewing their shopping successes and failures during the holiday season. In China, JD.com is trying to find ways to make shopping easier for their customers. This has been done by making deals with Beijing Capital International Airport and East Mongolia’s Hohhot East Railway Station.

JD.com is well established in the online shopping market, but it is progressing with its technology to open small physical locations with high foot traffic. These locations in China has some of the highest foot traffic in the world, and JD.com is capturing sales in these locations without having a single employee at the store.

Operating a store that is only 100-square-meters in a high-rent area such as an airport or a rail station saves JD’s a significant amount of money on rent. Their software has also tracked their customers purchases for years to know exactly what to stock these small transportation-centered locations with in terms of stock. Click Here to learn more.

Purchasing is being taken to a brand new level at this point as well. Customers can be recognized using facial recognition software to complete their purchases. JD’s typically focuses on convenience items for travelers such as clothing, beauty products and electronics used for travel in these locations. The key in their marketing strategy is to provide the right product at the right time, to the right customer. Customers will even be able to use an ordering option that will deliver the product to their next destination.

People flow through the walkways of China’s airports and railways hustling to get from one location to another. Now it is possible for passengers to truly purchase products “on the go”, by having the store process their purchase transaction by the time the door to the product’s case is closed. This convenience is bound to spread as the convenience it provides meets the needs of both frequent as well as occasional travelers. China is likely to be just the beginning for potential locations as JD.com once again stays on top of modern shopping trends.

 

More about JD.com on https://www.amazon.com/JD-com-Story-commerce-Phenomenon/dp/1910649716