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/

E-commerce Mogul, Richard Liu Qiangdong Lows And Highs

 

Push but lack, Richard Liu had to work very hard to make money enough to at least cater for the basic things in life. Life had its own twists and turns as he failed in most of the business ventures he got into as a young adult. While in college, he established a restaurant that closed down, began selling healthy products but this too collapsed, sold electronics accessories and due to economic dynamics Liu Quiangdong had to either closed down or reinvent. He opted for the latter, and began selling things online, major to dispose his stock although this lead to the launch of JD.com after he observed how profitable online business had become of.

E-commerce was the way to go. Other than following classical rules in the trade, he went through a learning curve and observed that online business would do better is customers were given right information about quality, pricing and size. This gave JD.com an upper hand over other competitors. Today, the platform has over 500 logistics centers with the site committing to almost impromptu service delivery ranging from 6-20-hour subject to the location of the client. Customers are accorded uniform attention regardless of the quantity of order made.

Richard Liu during a recent interview at the World Economic Forum he agreed that he is indeed very wealthy. He however feels that Jd.com has actually made him more responsible as he has to effectively manage the store in addition to expanding the clientele.

 

About Richard Liu Qiangdong

Richard Liu Qiangdong is a Chinese by nationality and known to being an entrepreneur. His early life was not easy as he was raised up by an ailing grandmother who he had to work very hard to raise money for her medication. After successfully going through Renmin University which is in Beijing China Richard Liu was focused on becoming successful. Liu Quiangdong ventured into business, with failures of course and his big break came after the launch of JD.com that was well received in the market. Today, he takes pride in what he has achieved and his ability to compete with brands that have been in existence longer. See Related Link for additional information.

 

Source link: https://www.wealthx.com/dossier/qiangdong-liu/

 

JD.com : The Path To Smart Logistics

In a monumental announcement at the 2018 JD Logistics Global Smart Supply Chain Summit in Beijing, retailer giant JD.com, also known as Jinggong Mall has put forward the process of building a research in Xiongan, China to better understand and innovate the way automation technology is interwind in the future smart cities of China.

 

The Urban Smart Logistics Institute” as it will be named will focus primarily first on improving big data and cloud-based platforms to more efficiently carry out orders for distributors and other types of consumers. JD.com has stated that his program will be run by some of the best institutes and experts in the field of logistics. A few names who have already jumped on the project will be the Shanghai Municipal Engineering Design Institute, Nankai University and Beijing Wuzi University with many more to come.

 

So, why the sudden push for this institute by JD.com? According to research, the increasing growth of the Chinese market has also brought along an increase of freight vehicles on their streets. The increase of freight vehicles has caused emission levels to rise in neighborhoods which have caused damage effects on the environment. The main goal of the institute will be to find a more efficient and environmentally framework for these vehicles. See Related Link to learn more.

 

The first route that the institute will study will be if they can utilize the current underground infrastructure. This would relieve traffic above ground and create a faster motive of transportation of goods. Engineer Chen Xiangsheng stated that the best smart cities are the ones that can utilize every available spaces and resource they have.

 

JD.com is no stranger to innovation, as China’s largest retailer it has been a source of constant innovation, in fact, JD.com holds the world’s only fully-automated fulfillment center. China’s growth will continue, and JD.com with their new research institute will be there every step of the way to see that everyone grows with it.

 

 

Watch their video on https://www.youtube.com/channel/UCj1O__aZW_05RdTCL8E3kUA

Contribution Of Jingdong To Conservation Of The Environment

 

JD .com is an online shopping mall that deals in electronics and many other commodities. It was started by a Chinese entrepreneur called Richard Liu Qiangdong. JD.com was mainly created to curb the inaccessibility challenge that the business was facing. Richard thought it wise to conduct business online and have products delivered to clients worldwide. This way, he would be able to reach a wider market and at a faster rate making more profit. The company greatly relies on the internet. Employees have the responsibility of updating the company’s profile and website. Clients can then access the shop’s website easily and conveniently as the app is available to even mobile sets.

 

One of their major breakthroughs of JD.com came in when Gieves &Hawkes opened a store on Jingdong. Gieves & Hawkes is a prestigious brand well known for dressing celebrities including Prince William. Kent & Curwen that partners with David Beckham also has a store on Jingdong. With these and more prestigious brands on board, the online shopping mall is growing to greater achievements in the investment industry.

 

The company has always been cautious when it comes to taking care of the environment. Being an online venture, delivery is a major part of transaction. Recently, JD.com launched packaging products that can be used over and over again. This way, their packaging will not be a source of pollution to the environment as clients will reuse them rather than disposing them off. In order to promote the use of these boxes that customers return to JD.com after receiving their orders, the shop awards points that can be redeemed for items at the shop.

 

Jingdong is also trying to ensure that their delivery vehicles emit very minimal carbon in the air during transportation. For this reason, the company uses hydrogen powered cars. These cars have been seen operating in Shanghai. Mid this year, they also purchased around fifty vehicles that are solar powered. All these efforts are geared towards ensuring a pollution free delivery process. See Related Link for more information.

 

Jingdong has gone further by launching an institute to help control traffic and regulate the pollution vehicles cause in urban areas. The e-commerce giant has been faithful to implementing green practices in their logistics network, having rolled out the Green Stream Initiative back in 2017

 

Related reference link: https://www.digitalcommerce360.com/2018/08/29/jd-turns-to-google-walmart-to-build-global-e-commerce-empire/

From 360Buy To JD. COM

This is the largest retail company in China, online and overall. It is only the leading online or internet company in terms of revenue, making it a Fortune Global Five Hundred member. JD.com stands out from other online retailers because it’s quality services, commitment to authenticity and it’s wide product and service range. It’s products include and are not limited to food, cosmetics, and electronics. The level and speed of delivery that JD.com works with are unmatched worldwide. Its market area is over a billion clients and the networks operate on the same-day and next-day delivery principles. JD.com also includes a variety of payment services to suit different types of clients.

 

A brief history on JD.com.

The company was founded in 1998 by Liu Qiangdong as a brick and mortar retail store but went online in 2004. Before it was known as Jingdong or JD.com, the company went by 360buy. When it started it’s online endeavors, the company was a magneto-optical store. Jingdong later diversified it’s sales to electronics, computers and computer peripherals, mobile phones and other devices in the same category. In the month of June 2007, the name changes to 360buy.com and later to JD.com in 2013 a move that was worth over 5 million us dollars. It was the same move that later becomes the biggest and toughest competition for Alibaba.com.

Jingdong Mall is the highest user of technology and artificial intelligence in the delivery of its products. It utilizes drones, robots and other autonomous technologies in its operations. This use of technology has also made the company have the biggest drone system or infrastructure and capabilities in the world.

 

Expansion and growth.

Due to its commitment to quality and use of high-level technology, Jingdong Mall has grown rapidly over the years. It spread its market, by increasing the variety of products throughout China and as of this year, JD.com is in Vietnam, France, and the UK. The e-commerce giant plans to set it’s footprint further in the years to come. The GMV of the company has been increasing very financial year i.e. in 2011 it was RMB 32.7 billion, in 2012 73.3 billion, in 2013 125.5 billion, in 2014 260.2 billion, in 2015 462.7 billion and in 2016 the GMV was 658.2 billion. With this steady growth in GMV, the company is sure to spread its print. Go Here to learn more.

 

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