Richard Liu Qiangdong is amongst the most popular business figures in China and the global e-commerce world. As the founder of JD.com, he has been able to transform the e-commerce space completely by bringing in innovative retail solutions for the customers. Richard Liu Qiangdong started his career by working as a seller of health products for a company named Japan Life. After he completed his EMBA from the China Europe International Business School and sociology from the famous Renmin University, he started a store selling magneto-optical products.
However, during the SARS outbreak in China, the company witnessed a massive loss. It made Richard Liu rethink his business strategy, and it is how he came to the conclusion that he should shift his business online. It is how JD.com came into existence. It has now become one of the largest retailers of consumer products online, and it continues to be the leading seller of electronic products. Get Additional Information Here.
The sales of the company have been soaring year after year, and Richard Liu Qiangdong has ensured that it continues to go up, even after tough competition from the leading retailers like Alibaba. Some other companies that have a stake in JD.com are Walmart and Tencent. Richard Liu aims to make JD.com the number one e-commerce company in China but does not want to limit themselves to just one country. They want to increase the efficiency of their delivery system and are working towards improving it continuously.
In a recent interview, Richard Liu Qiangdong talked about the basic idea behind JD.com. He believes that his company treats everyone equally and it is essential for the company to deliver products in the shortest period. In China, most of the customers receive their products within 6-20 hours. Globally, it takes around 10-15 days for them to deliver the products. The company does not stock any fake products and all the products they sell are checked for their quality. His aim for the next few years is to bring down the time for global delivery to less than seven days. For that, Liu has been conducting research and wants to grow using different strategies depending on the country they are targeting.
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Jingdong Mall, or JD.com, is a cutting-edge company that seems to always have an answer to the next big thing in e-commerce. They have been at the top of their field since they were first introduced to the online world in 2003. This is partly because they provide such an honest service to their customers but primarily driven by the efforts of founder Richard Liu Qiangdong.
Richard Liu has been such an influential member of the Chinese economy that Weforum.org wanted to get his take on his success in the business world. It takes a lot to succeed and Richard Liu seems to have the recipe down pat these days.
Jingdong Mall was a business that Richard Liu Qiangdong started in 1998 to help his family survive. Already in debt from a failed business, Richard Liu did not have the luxury of feeling again. In his interview with Weforum.com, titled: “An Insight, An Idea” Richard Liu to shared that some of the work that he does with JD.com is a direct result of the lessons he learned at this previous business.
Jingdong Mall was meant to be an electronic hub for people who had technology needs. The company was extremely successful as a physical entity, but Richard Liu wanted to move it online. SARS had been growing in the media and become quite scary.
In 2004, the company became primarily focused on e-commerce. Richard Liu Qiangdong tells the crowd that the landscape for e-commerce was very concerning. There were a lot of companies online that were offering shady services and products. He did not want JD.com to become a company that provided their customers with such abhorrent service. It became a priority for him to move the company in a positive manner.
Today, the company can deliver most packages within a 20-hour window with many individuals receiving their packages in less than three. They have developed their own network of drivers and transportation hubs. This is just one step towards a future global goal that Richard Liu touched on in the interview. He has been very vocal about the fact that he wants to grow JD.com even further. It may be one of China’s top websites today, but he talks about the world tomorrow. Find More Information Here.
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