Richard Liu Qiangdong: Online Retailing

 

Richard Liu Qiangdong is a man from a family of businessmen. His parents were owners of a transport business in China. During his time in college, Liu managed to venture into business while he was in his third year of study in Beijing.

In 1998, Richard Liu Quiangdong opened a computer accessories retail company opening up to 12 stores a year. In 2004, after the SARS epidemic, Richard Liu Qiangdong did an analysis of online retails sales versus face to face, walk-in sales and found that the e-store was doing far much better than regular retailing.

Starting the online store in 2004 was a risk for Richard Liu Qiangdong because a lot of the products sold on the online markets had been found to be fake. In light of this, he vowed that his company, JD.com would only provide genuine service and products for his clients. Find Related Information Here.

Richard Liu Qiangdong’s company as per now is set at $60 billion net value with over 150000 employees in over 400 logistics centers all over China.

In recent years, consumers goods, fashion, and groceries have been the most popular buys from Richard Liu Qiangdong’s company. Delivery of products is entirely dependent on your location. For example, if you are in Beijing, you will receive the package within 3 hours.

As JD.com has grown, so has his wealth. According to Richard Liu Qiangdong, his wealth comes as a responsibility to help the society that does not have as much advantage as he does.

The service you will receive from Richard Liu Qiangdong and his company is the same no matter where you are. They do not believe any customer is better than the other.

In an effort to expand, Richard Liu Qiangdong plans to bring all the best 100% original products to China before he expands to South-East Asia, Europe, and the US.

In terms of maintaining his relationship with the executives of the company, Richard Liu Qiangdong ensures that he frequently hold staff meetings internally.

In the e-commerce market as per now, Richard Liu Qiangdong has acknowledged that Walmart might be his biggest competitor because they have a large store presence.

 

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