Richard Liu—The Backbone Of JD.com Shares His insight!

 

Richard Liu is the founder and CEO of JD.com, one of the largest e-commerce organization in China. He worked hard and built the company from scratch which today has a net worth of $57.6 billion.

Richard Liu belongs to a small family and his father was a sole trader, who transported coal. However, he went to Beijing to join college and gained graduation in sociology and later EMBA. Along with the college, he opened a small restaurant which didn’t work out well and collapsed. Later in Jingdong in Zhongguancun High-tech Industrial Park, Beijing he opened physical stores where he sold magneto optical products and by the year 2003, he had opened 12 stores.

But unfortunately, due to the SARS outbreak, which leads the employees to stay at home and as a result, the business was on the edge to go down. But by the end of 2004, Richard Liu along with his managers figured out that if physical stores couldn’t work out they can have online stores—while they worked on both, side to side (physical and online stores).

After comparing the outcomes out of both, customers had a better experience through online stores which made them expand the business respectively. With relentless progress, they had almost everything available sold on online stores by 2010. With 167,000 employees working, and 500 logistic centers operating JD.com lies on the 4rth largest market place in China. JD.com doesn’t just deliver its products in China but also in New York, London and Paris. See This Page for additional information about Richard Liu.

According to Richard Liu, the hottest products that are bought through JD.com are consumer goods, food, and fashion products. Richard Liu plans to expand his business by using different business strategies. Firstly, by bringing the world’s best quality product to China and secondly expanding the business roads to South East Asia, following the Middle East and then Europe as well as America.

Webforum.org has an article titled “An Insight, an Idea with Richard Liu” that gives a lot of information about the mogul and where he is going. To understand where Richard Liu is going, it is important to see some of his success.

Talking about Richard Liu’s typical day, he wakes up early and then his routine starts by attending a meeting of the managers followed by other internal and external meetings through WeChat and emails. Talking about his personal life Richard Liu is a proud son, father, husband, and partner in the business. He is the father of 2 kids, his hobbies include swimming, brisk walking and he loves to travel in deserts!

 

More about Richard Liu on https://variety.com/exec/richard-liu/

 

Richard Liu Qiangdong: Eyes On A Global Market

 

JD.com is a massive Chinese commercial retailer. They have single-handedly changed the Chinese e-commerce business. The businessman behind all of this progress is Richard Liu Qiangdong. Recently he gave an interview to Weforum.org. The interviewer wanted to discuss the success of JD.com. Originally, JD.com was Jingdong Mall. It was a brick-and-mortar retail store that allowed customers to purchase computer parts and computer accessories. They were doing quite well and had expanded to 12 different locations. In 2003 the SARS outbreak hit, and they were forced to downsize their public staff. Richard Liu and his advisers decided that they should attempt to focus on online sales. This would be a turning point for the company.

 

In 2004 JD.com started offering products to customers through their online retail store. Again, the store was offering computer-based products. Liu Quiangdong wanted to expand into other markets and slowly began to incorporate new items. Eventually, the company began a trend of steady growth. After six years, the company had incorporated products from almost every market. This increase in loyal customers was because JD.com offered them a guarantee with their products. Many of the items that were featured on JD.com were only of the best quality with their own guarantees. Many of the Chinese online stores at that time were offering counterfeit items and low-quality material. JD.com saw a lot of growth over these years. Currently, they are worth almost $60 billion.

 

Richard Liu Quiangdong has been able to grow JD.com because he did not always succeed in the past. His foray into the restaurant business fell flat while he was still in his college program. He explains to his interviewer that the restaurant’s failure was because he was not able to devote the necessary time to that business. There needs to be a healthy balance between your commitments and the dedication that you have to your business. Richard Liu believes that he has found that balance with JD.com. Quiangdong will continue to expand the business and hopes to reach into the global market soon. While his biggest competitor is Amazon.com, he believes that it will not be difficult for JD.com to surpass the retail giant in the future. Read This Article for more information.

 

View source: https://www.wealthx.com/dossier/qiangdong-liu/