The 2018 World Economic Forum had the mantra; An Insight, An Idea. This meeting pulled together various business from around the world who share valuable insights of how they do business and how they have laid out workable structure. Richard Liu Qiangdon happened to be one of the distinguished guests at the forum who had the pleasure of speaking about JD.com.
Richard Liu premiered the interview with Rubenstein by categorically expressing how impressed he is that he can interact with people around the world with the e-commerce platform he founded in 2004. However, online operations had begun way back after he realized retail selling wasn’t cutting the edge as should have been. He was running a business with the physical store by sales were discouraging, Richard Liu as an exit strategy began selling electronic devices from his stores online. However, this came be his next venture after he realized sales were going up and customers gladly welcomed the idea. The name Jd.com in full is Jingdong which is obtained from his ex-girlfriend’s name alongside his, interesting!
E-commerce platform sparkled interest as it brought in an unconventional experience where the seller could deliver goods to the doorstep of their customers. Convenience and efficiency brought about in this model merged with the dynamic times where people have little time to shop around. The preference to have goods delivered to them was obviously a plus and hence the overwhelming popularity. This too has to be worked out tactful, to ensure there are no delays and goods are delivered in high quality especially the perishable goods- although the company still major on the electronic goods. Various stores were established and the logistics heightened to bring the required efficiency the market lacked.
About Richard Liu Qiangdong
Richard Liu Qiangdong is the Jd.com ensign; founder. He founded the company in 2004 following an untamable wave of the SARC that lead to many businesses closing down. Being a well-informed entrepreneur he resorted to online selling which worked exemplary well and birthed Jd.com. this company has since then expanded and grown tremendously. The company got listed in the NASDAQ in 2014 with a market capitalization of US$ 44 billion at the time.
About Richard Liu: www.bloomberg.com/billionaires/profiles/qiangdong-liu/