The life and career journey of Richard Liu Qiangdong, founder and executive chairman of JD.com, is awe inspiring. He has gone through many ups and downs in his life and yet come out victorious, and is now amongst the wealthiest Chinese in the world with the net worth of more than twelve billion dollars.
Richard Liu Qiangdong founded JD.com in the year 2004 after his physical retail operations suffered massively due to the SARS outbreak in China. The employees were unable to come to work, and the footfall at his chain of stores also fell a lot, making it hard for the business to survive, leave alone thrive. The overhead expenses were eating up the savings of the company and thus, Richard Liu decided to switch to online operations completely.
Richard Liu Qiangdong’s first job was at Japan Life, a health and nutrition supplement company, where he worked as a computer specialist and programmer for a while and even became the director of computers after working for few months at the company. He eventually decided to take his career forward and left his comfortable job to start his entrepreneurial journey. Refer to This Article for additional information.
It is during this time he started a brick and mortar retail store that went on to be hugely successful among the people. The success of his first store propelled the business to start a chain of stores in the time to come. Later on, due to the series of event, Richard Liu was forced to close down the brick and mortar stores and start JD, which has now become one of the most familiar names in the e-commerce industry worldwide.
Even though Richard Liu has set a successful online retail empire, he is always looking for ways to expand it. It is currently competing with the best online stores around the globe. For him, being the second position in China is not sufficient. He now wants to overtake the top online store and create a global impact. He believes that the online competition is quite tough and they always have to be on their toes and fulfill the needs of their customers.
More about Richard Liu Qiangdong: https://variety.com/exec/richard-liu/
In the world of e-commerce, there are very people who have achieved the kind of success that Richard Liu Qiangdong has achieved. Not only has he founded and taken JD to great heights of success, but Richard Liu Qiangdong has also contributed to transforming the e-commerce world comprehensively.
In a recent interview that he gave in Davos at the World Economic Forum, Richard Liu Qiangdong spoke on various topics starting from how he plans to expand his business worldwide to what he feels about the Chinese and the world economy. Richard Liu Qiangdong also spoke about a trivia as to how the name of his e-commerce portal was decided to be JD. He revealed that the name Jingdong is a combination of his and his then girlfriend’s name.
Richard Liu Qiangdong shared how it was difficult for him when he first started the company, but he kept on trying in spite of setbacks. Liu Qiangdong’s hard work paid off, and today Jingdong is one of the largest and the most profitable e-commerce company not just in China but in the World. After starting its operations in China, JD is going global and already ships products across many different parts of the world. Refer to This Article to learn more.
What sets them apart from other companies is their quick and efficient delivery system. Richard Liu believes that people today do not have time to wait and will order from companies that can deliver their product in the shortest time possible. Using advanced technology in its warehouses, Jingdong has highly efficient warehouses to minimize the amount of time required for the products to be dispatched and delivered to their customers.
Richard Liu Qiangdong plans to take on Walmart and Alibaba to reach the top position. According to him, anyone who is the top one in China will be the best in the world too. China is the largest market for retail products, and with the number of millennial population growing in the country, there is a greater need for Jingdong to improve their offerings to please their customers.
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The e-commerce business continues to grow, and companies will need to find new ways to make sure that does not negatively affect the environment. JD.com or Jingdong Mall is leading the way in being environmentally friendly. It is making changes to every aspect of the logistics that it uses. From processing to delivery, there are a variety of ways the company has reduced waste and pollution.
Jingdong has an enormous infrastructure. It processes billions of transactions a year. It serves over 300 million people all across China, and it can deliver to 99% of the country. It is shifting towards e-receipts to lower the amount of paper that it uses. It has also changed the way it delivers packages. To cut down on the amount of boxes that it uses, it is now using biodegradable boxes. The green colored boxes or “Green Boxes” can be used up to ten times. They are free for customers to use. The delivery drivers can collect the boxes. They can also collect returns. Customers do not have to mail them back and use even more carbon.
Along with processing and packaging, Jingdong Mall has also changed the way it delivers. It is aiming to change all of its delivery vehicles. It will reduce the amount of carbon used by millions of tons per year. The use of drones from its fully automated plants means that those deliveries are already carbon neutral. One of the company’s biggest developments is the use of electric driverless vehicles. They are currently in two cities, but that will be expanded during the year. In the recent company’s blog “JD Delivery Stations Get Smart Ahead Of CES Debut”, JD has talked about the launch of two smart delivery stations in the cities
JD.com is also working with some of the largest companies in the world to be more responsible. Jingdong has partnered with the United Nations Development Program to lower the amount of pollution. JD.com is already the largest e-commerce retailer in the world, and now it will be the leader in environmental issues.
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How Richard Liu Qiangdong Got His Start
Richard Liu Qiangdong is the founder of JD.com. This is a company that sells products online. This company has turned Liu Qiangdong into one of the richest men in China. Liu Qiangdong had a humble upbringing. When it was time for him to decide on a career, he thought that it would be best to work in sociology. Liu Qiangdong found that he was not going to be able to have a fulfilling career in sociology, so he decided to diversify his talents.
He wanted to try his hand at restaurant ownership, so he opened up his own restaurant. Things did not turn out as Liu Qiangdong would have hoped; the company failed within a few months. After going into debt because of the restaurant, Liu Qiangdong started working in management for a Japanese company.
After working at the company for a number of years, he started up his own company selling optical devices. This endeavor was successful, and soon Liu Qiangdong was able to open up stores throughout China. In 2003, there was a bad outbreak of SARS in China; this forced Liu Qiangdong to reevaluate his sales model.
What Richard Liu Qiangdong Told Weforum
Recently, weforum.com did an interview with Liu Qiangdong entitled “An Insight, An Idea With Richard Liu”. He talked about the strategy that he used to make his company grow. After Liu Qiangdong realized that he would lose clients and employees because of the SARS outbreak, he decided that he would sell all of his products through an e-commerce platform. That was the idea that helped him to create JD.com. Now JD.com has made him a billionaire. View Related Info Here.
More on Liu Qiangdong and JD.com
Liu Qiangdong did not settle for failure, he persevered until he found success. Liu continues to strive for greatness through his commitment to his company and his clients. Liu Qiangdong wants JD.com to be the largest e-commerce company in the world, and with his work ethic and business model, he is sure to find success.
Related Article: https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu