How Richard Liu Overcame Great Odds To Build JD.com

 

Ideas are the genesis of the most exemplary and exceptional accomplishments by human beings. The idea of providing first class customer service, fueled by the desire to provide for family, is what pushed Richard Liu Qiangdong to establish JD.com. Speaking at the World Economic Forum held in Dallas on January 2018, Richard Liu recounted how eventful his journey of building Jingdong was.

Today, JD.com is China’s most profitable internet company and one of the largest online retailers in the country. JD.com is, especially, known for vigorously pursuing innovation, and incorporating eco-friendly practices in their business model. As the C.E.O and founder of Jingdong, Richard Liu finds himself in a catbird seat, where much is expected of him.

As Richard Liu says, his strong academic background has, especially, provided a rich source of knowledge, and his experience as an entrepreneur has enabled him to make momentous decisions while at the helm of the e-commerce giant. Find Related Information Here.

Richard Liu Qiangdong detailed his experiences to an enchanted audience, reminiscing how he handled failure as a young entrepreneur and also how he had to teach himself programming after completing college. Richard Liu first studied sociology at the Renmin University of China because he was deeply interested in politics. After completing his degree in 1996, he realized that he would never get the big bucks in that field and, resultantly, decided to teach himself programming. Consequently, Richard Liu took up several freelance coding jobs, which paid him enough, and enabled him to pursue an EMBA at the China Europe International Business School.

His EMBA opened new doors for him at a reputable health Product Company called Japan Life. Richard Liu worked at the company for 24 months, where he held several positions including head of computers and head of the business. Pushed by his entrepreneur spirit and the responsibility to afford medicine for his ailing grandmother, Richard Liu moved on to establish a magneto-optical store in Beijing, which he named Jingdong.

This was in 1998, and by 2013, his venture had grown to 12 stores all over the city. However, his promising business suffered a huge blow after there was a breakout of the SARS virus, which made physical interaction impossible and, Richard Liu was forced to close down his stores. In a bid to survive and keep his business, Richard Liu took his business online. This is what grew to a $57 billion E-commerce business Jingdong.

 

See also: https://www.gizmochina.com/2018/06/22/googles-550-million-investment-in-jingdong-could-see-its-hardware-products-selling-on-jd-com/

Richard Liu Qiangdong Transition From Brick-And-Mortar To E-Commerce

The CEO of JD.com Richard Liu Qiangdong has made a fortune from his online retail company that started operating in 2004. Richard Liu has expressed that the company has attained a value of more than $60 billion. Although Forbes has made an estimate of Richard Liu’s net worth to be over $ 11 billion,

 

Mr. Richard Liu does not pride himself as a wealthy man but he sees it as being fortunate enough to have the resources that can create change that could benefit others. He studied Sociology and later on, completed an Executive Masters in Business Administration.

 

He had previously tried running a business while in the third year of college in Beijing but he had few hours to spare because of his studies, and eventfully the restaurant collapsed. Richard Liu was also an employee for a health products store before venturing into his own business. Go To This Page for additional information.

 

There were three aspects that influenced his decision to start a business. First, he came from a poor background. Richard Liu Qiangdong parents were sole traders running a small business of offering transportation services in the canal. Therefore the parents did not have an income to spare to send him abroad for further studies. He was also not interested in a government job and lastly, he needed a way of earning enough money to meet the medical needs of his sickly grandmother.

 

He opened Jingdong in 1998, a business name he coined by combining his wife’s last name with his name. It was a small business selling computer accessories. Jingdong started to grow and he began opening other shops and by 2003, he had 11 more shops. SARS outbreak disrupted the business in 2003 and he had to seek an alternative because there were no customers going to the shops to buy.

 

Liu opted to transition to e-commerce because it was the only model of business that would survive in such a time. Richard Liu named the online business JD.com and his journey to becoming more successful began. Currently, it is the top online retailer in China. He has plans for growing the company to other markets around the globe. The plans for selling products from other manufacturers across the globe are also underway.

 

Related reference link: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019

Richard Liu Qiangdong Talks About His Journey To Success

 

JD is one of the major online retail platforms online, and the company has one of the largest inventories of stock of different categories. The company has been growing consistently in the past few years under the leadership of its founder, Richard Lie Qiangdong.

Richard Liu has done a lot of market research over the years and understands the retail business like the back of his hand. It is what has helped him develop marketing, sales, and business development strategies that are not only effective but also result-oriented. Richard Liu Qiangdong has worked hard all his life and continued to work for over fourteen hours every day. The ability of Richard Liu Qiangdong to stay organized is what has helped him to pace up the growth of his business.

Richard Liu Qiangdong continues to look for new ways to expand the outreach of his business in China. It is his hard work and determination to succeed that has helped JD become the second largest online retail platform right after Jack Ma’s Alibaba. Richard Liu Qiangdong is a highly qualified individual as well, and he has studied sociology from Renmin University and has also done MBA from the China Europe International Business School.

Richard Liu has a determined, focused, and aggressive personality, and it is his ability to be commanding is what has helped him become a well-known celebrity in the business circles of China. Many young entrepreneurs are following the footsteps of Richard Liu to taste the success he has achieved.

Richard Liu Qiangdong feels that technology is moving at a much faster rate than it did in the last decade. Thus, it is important for e-commerce companies to adopt the technology if they want to stay in the competition. Jingdong has already adopted drones to deliver packages to their customers. Even though it is still in the testing stage, it has allowed the company to save costs and time. The company feels that adopting drones as their delivery partners will help the company in reaching out to more customers than ever before and also lower their cost to a great extent. See This Article to learn more.

 

More about Richard Liu Qiangdong on https://www.businessoffashion.com/community/people/richard-liu

JD.com Launches The Environmental-friendly Green Box Packaging System

In the recent year, many companies across the world have adopted various ways of environmental management in their operations. The methods benefit both the customers and the companies in one way or another. While some companies invest in machinery that does not pollute the environment, others invest in environmentally friendly packaging materials. JD.com is one of the companies investing in such packaging materials.

 

The largest e-commerce retail shop in China started embracing the new packaging method for sustainable consumption through making deliveries in reusable containers in small and medium-sized deliveries. The method does not only cut the production cost but also conserve the environment tremendously. According to Jingdong, the initiative can save up to 32.5 million RMB annually if 10% of orders go through the new program.

 

Although Jingdong provides this service free, the customers have a chance to select if they would like to use the new packaging system on the billing page called the “Green Box”. The customer returns the box after receiving the order reusable for up to 10 times.

 

Additionally, JD.com rewards the customers with loyalty points as a way of encouraging them to embrace the system. The loyalty points are exchanged for Jingdong’s products. The green boxes initiative applies in small and medium-sized products like skin care products, watches, makeup, cell phones, and jewelry. However, the green boxes are not applicable to fresh food products. See This Page for additional information.

 

The Green Box usage service started in Beijing, Shenzhen, Guangzhou, and Shanghai. It will extend to five more cities including Chengdu. According to JD.com’s management, more than 20 cities will be covered by the end of 2018. The JD Logistics Head of Planning and Development, Bing Fu noted that the customers enjoy the usage of the green boxes because they know that they are taking part in minimizing carbon emissions. Jingdong launched the “Green Stream Initiative” last year that involves environmental friendly packaging materials and improves the environment.

 

JD.com is the largest e-commerce retail shop that operates both in online and offline businesses. The company is one of the pillars of the country’s fast-growing economy. It has taken part in coming up with unique business practices that help other companies in keeping up with the vibrant economy. Jingdong is a game changer in the Chinese economy.

 

Visit: https://www.wsj.com/articles/chinese-retailer-jd-com-turning-its-logistics-network-into-broader-delivery-service-1539833400

Richard Liu Qiangdong Outlines His Grand Plans for JD.com At Davos, Switzerland

 

Richard Liu Qiangdong made an appearance in this year’s World Economic Forum, which was held in Davos, Switzerland. The celebrated Founder and Chief Executive Officer of JD.com spoke to high profile gatherings of fellow prominent business personalities and media houses from across the world. In all his speeches and interviews, Richard Liu explained his grand plans to take JD.com to the next business level in the coming days. Currently, JD.com is one of the leading e-commerce retailers in China.

 

In one occasion, Richard Liu Qiangdong addressed a gathering of 50 prominent businessmen and women at a lunch event. Among those in attendance included the Chief Executive Officer of Adidas Group, Kasper Rorsted and the chief of Walmart in the United States, Greg Foran. Speaking in his refined English, he informed the gathering of his plans to expand JD’s coverage of the European market. Richard Liu Qiangdong confirmed that plans are in top gear to secure partnerships with leading European retailers. Through the partnerships, JD will grant leading European brands access to its online platform and logistics network. In return, JD will have access to the markets in which the partners operate.

 

According to Liu Qiangdong, JD will introduce superior European brands into the Chinese market through its cutting-edge online platform. At the same time, the company will market leading Chinese brands into the European markets. This way, customers will afford the comfort of buying products of their choice without necessary traveling out of their country. Liu expressed his confidence that JD.com will bring a revolution in e-commerce within the next ten years.

 

In a separate event at Davos, Richard Liu Qiangdong disclosed to CBNC JD.com is planning to take its logistics business public. He also said that the company is considering a dual listing. Dual listing happens when a company trades its shares in multiple stock exchange markets. According to Liu, the move will give investors an upper hand regarding flexibility and increase the liquidity of the stocks. View More Information Here.

 

Even though the CEO did not state the exact time when the listing will take place, he hinted at the possibility of the initial public offer happening by the end of the year. Additionally, Richard Liu confirmed that the listing of the logistics business, which is currently owned by JD International Ltd, will take place in either mainland China or Hong Kong.

 

Learn more about Qiangdong on https://www.sentaclinic.com/dr-richard-liu/