Richard Liu Qiangdong

 

Richard Liu Qiangdong is the founder of JD.com previously known as Jingdong. The renowned businessman is known for his level of expertise in e-commerce. He began his entrepreneurial journey after he graduated and could not pursue further education. This he attributes to his interest in business rather than the conservative employment model. This led him to start a restaurant business which unfortunately collapsed due to inadequate management skills.

 

Richard Liu shifted his interest and started to sell spare parts under the company name Jingdong. It was not long before he discovered that the business model had more costs than returns and a brick and motor business model would not be efficient. He thus remodeled his business strategy and changed his company to the famous JD.com. Years later, coupled with the shift towards online shopping, the business became a market leader and is currently listed at the NSE among the top firms in China.

 

In his interview, Richard Liu attributes his success in e-commerce to the ability to strategize and have efficient business systems. He states that his business model relies on values such as integrity, efficiency, customer service and a low turnover period for stock. He further reveals the importance of ensuring customer needs are met promptly while retaining high quality.

 

In regards to counterfeit products, Richard Liu highlights that his business does not allow counterfeits, which ultimately builds trust and translates to higher revenue. JD.com currently has a delivery system within China and has further expanded the company to a global level. It is evident that the low costs associated with online store have a spillover effect which allows for business expansion. Coupled with the high economic growth rate, the company is bound to expand under Richard Liu management.

 

The interview further depicts the management technique implemented by Richard Liu Qiangdong which is based on efficiency and quality. He is also able to compete effectively and has high-profit margins by having a wide variety of products. In comparison to stores such as Walmart, the business has more products to sell with low costs associated with the same due to the short turnover periods. Richard Liu is an embodiment of success in entrepreneurship. Read This Article to learn more.

 

See also: http://www.jd.hk/richard-liu-jd-ceo-about

 

JD.com On How To Sustain An Online Retailer

 

As one of the world’s largest online retailer, JD.com, founded by Richard Liu Qiangdong, is one of the best examples to align one’s business with. It started as a small brick and mortar store in Beijing, China, and it has grown to be the biggest online retailer that uses cutting edge technology in its operations. The firm has incorporated a number of strategies that have ensured the survival of the business as well as the expansion of its market.

Customer Involvement

During the development of any project either in technology-based projects or non-technological projects, it’s important to involve the targeted market. This eases the product and or service acceptance process as well as promoting the business. JD.com conducts detailed research and gathers their clients’ information before during and after embarking on a project.

The online retailer has partnered with a number of institutions like the green advocacy groups to conduct sustainable consumption campaigns to inform their consumers. Other institutions include the united nation development programs to spread the awareness of waste and pollution reduction. Read This Article for additional information.

Sustainability

JD is known for its use of advanced technology to promote environmental sustainability as well as establishing an effective delivery system to cover its ever-growing market reach. JD.com has over 80,000 employees in the delivery process in China alone. With its umbrella spread over the middle and southern Asia, the number of delivery employees and delivery trucks is quite big making the rate of CO2 emissions high prompting the use of continent and sustainable delivery of products. The team, JD.com, have converted over find a thousand trucks from CO2 emitting truck to new energy trucks. The process is still ongoing with Jingdong hoping to convert its entire fleet to new energy reducing the carbon emissions by tons.

Waste Reduction and Environmental Sustenance

Many companies are in the process of incorporating means through which they can reduce the waste in their processes as one of the means to reduce global population and waste production. Their recent step in the article “JD.com Launches New Reusable Package Initiative” is a big one. It signifies that the company has put their full force behind making the company a truly environmental company.

The retail owner, Richard Liu Qiangdong has ensured that the firm uses bio-degradable material as well as reusable packages to reduce waste.

 

Read related reference on https://www.amazon.com/JD-com-Story-commerce-Phenomenon/dp/1910649716

 

 

 

Interview With Richard Liu

 

In an appearance at the World Economic Formal Annual Meeting, Richard Liu sat before an audience for an interview. Talking about his early days in college and his business-oriented mind, Richard Liu talked about opening a restaurant right out of college and running it for several years until the business folded. He stated the failure taught him vital lessons about business and consumerism. This would help him in his next and current business as it has evolved. In 1998, Liu started JingDong. It began as a few store front shops for selling electronics and electronics accessories.

In 2004, the SARS epidemic hit China. Liu, fearing for the safety of his employees, closed the stores initially. This is when the idea struck him to move the business online; thus spurring the massive growth JingDong experienced. Liu discussed the downsides to selling online, such as counterfeit merchandise and cheating customers with high prices. Liu wanted to create a better customer experience.

This customer oriented initiative spawned JD’s innovation in customer service, selling and shipping. JingDong current has a market value somewhere near 60 billion dollars. With 500 logistic centers, autonomous delivery robots and drones, JD can guarantee delivery times in as little as 6 hours with precision.

On discussing his success, Liu joked that many of the friends that he had before becoming successful were now wealthy; hinting at his generous spirit. He’s always been surrounded by hard-working, intelligent people. Liu talked about his daily routines as a measure to keep himself in groove of success. JingDong is often compared to WalMart and Amazon. Find Related Information Here.

Liu talked about how JD’s products are of better quality than that of WalMart’s and how JD’s selection is more vast. The competitive spirit lives within Liu as he discussed Amazon. Richard Liu stated that he doesn’t believe it will be too long before JD becomes more successful than Amazon on a global scale and with their rapidly evolving innovation in customer and technology driven services, it’s not hard to imagine.

Today, JD.com stands at about $60 billion whereas his personal net worth is about 12.7 billion. And in 2017, Richard Liu became a “Variety500 Honoree” as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.

 

Source article: https://jdcorporateblog.com/about-richard-liu-jd-com-founder/

 

How Richard Liu Qiangdong Changed The World Of E-Commerce

 

Ever since the inception of online retailing, its safe to say that the world of e-commerce has come a long way. Naturally, a lot of consumers weren’t really comfortable dealing with the internet for one reason –

fraudsters. A lot of scum lingered around the dark corners of the internet posing as merchants who’d pounce on any unsuspecting consumer looking to buy.

And that’s exactly why the name Richard Liu Qiangdong is very vital especially when it comes to the world of e-commerce. When he founded JD.com back in 2004, the internet billionaire had one goal in mind and that was cleaning up the online retail scene. Liu’s dream was to lead an e-commerce platform where clients weren’t afraid to use.

So Richard Liu Qiangdong made his first step by only dealing with a business that dealt with authentic merchandise. Thanks to Liu Qiangdong’s revolutionary decision, it didn’t take long for consumers from all corners of the world to take note of the good work he was doing. And it was at that moment that JD.com started experiencing its exponential growth.

Apart from combating fraud, Richard Liu Qiangdong also made sure that he was paying very close attention to what the consumers need. And that’s when he discovered that most of them were always complaining about the extremely long waiting periods between purchase and delivery. And needless to say, the tech billionaire had the perfect solution to this.

With his bonafide team and advisors, Richard Liu Qiangdong made sure that he was stationing logistic stores all over the world, with well over 500 in China alone. This way, he was in a position to reduce the delivery time to

between 6 and 20 hours, irrespective of the area of the world the consumer is. Owing to this incredible success, JD.com was floated to NASDAQ. Visit This Page for more information.

And by 2016, the Chinese e-commerce platform was raking in as much as $37 billion in net revenues annually. Today, JD.com is valued at $60 billion and has got well over 167,000 dedicated employees worldwide. But the later success doesn’t mean that Richard Liu Qiangdong and his dedicated team are slowing down when it comes to satisfying their esteemed customers.

 

More about Richard Liu Qiangdong on https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu

Richard Liu Qiangdong Opens Up About His Business And Personal Life in The WEF Meeting

 

Best known for founding Jingdong Mall, one of China’s leading e-commerce sensations, Richard Liu is an avid entrepreneur and businessman. His background story portrays him as a committed, resilient, down-to-earth and visionary individual to say the least. Currently, he prides himself on being the chief executive officer of JD.com, a company with an estimated asset worth of $57.6 billion.

During the 2018 Annual World Economic Forum, Richard Liu Qiangdong participated in an interview whereby he responded to questions relating to his business. He narrated to the Co-executive Chairperson and Co-founder of The Carlyle Group David M. Rubenstein how his Jingdong Mall platform became a reality. From operating a computer parts retail business to finally venturing into e-commerce, Richard Liu Qiangdong realized that the new business model involves low logistics.

According to Richard Liu, JD.com’s success did not happen overnight. In the beginning, the company was low on capital even though that situation did not stop it from operating. They began with IT products and mobile phones before later adding a variety of items over time. Currently, Jingdong serves a wide array of customers not only in China but also other parts of the world. The e-commerce platform also hopes to expand its reach to the USA, Europe, Middle East, and South Asia.

Richard Liu suggested that Jingdong Mall is better than Walmart because of its wide variety of goods, amounting to one billion. As such, customers have different choices to pick from when shopping via Liu’s platform as compared to the latter, which has several millions of options. On a more personal level, Richard Liu Qiangdong said his married and had two children, whereby the youngest one is nearly two-years-old.

More about Richard Liu

Aside from business, Richard Liu Qiangdong is an accomplished alumnus of Renmin University (China) where he graduated with a sociology degree in 1996. To top it up, he attended the China Europe International Business School for his EMBA. While pursuing his undergraduate degree, Richard Liu spent most of his time sharpening his computer programming skills by taking up freelance coding jobs. After graduation, he was employed at Japan Life, a health product entity. During the two years he worked there, he held several roles including the director for business and director for computers. See This Page for additional information.

 

More on: https://www.chinainternetwatch.com/tag/jingdong/

 

 

 

 

 

Richard Liu Qiangdong of JD.com And His Rise To Success

 

Richard Liu Qiangdong created a wave of online sales off the backs of one of the scariest viruses to ever hit Beijing: SARS. When all 12 of his magneto-optical parts stores in Beijing were threatened with extinction, Richard took the bull by the horns and started an online store to sell his goods so that his business could stay afloat. That business he named after the last character his and his girlfriend’s name: Jingdong. Later shortened to just JD.com, the website has grown to add all sorts of goods for sale from fashion to car parts, fun electronics, and beyond.

 

Seeing this enormous growth, WeChat investor TenCent saw the potential growth and approached Liu Qiangdong with a proposal to invest 15% of his company in exchange for $215 million. With this kind of valuation, Jingdong was now worth in excess of one billion dollars: enough to safely list his company on the stock exchange. And so Richard Liu Qiangdong did just that, he listed JD.com under the ticker “JD” on the Nasdaq market with a valuation of around $44 billion after its IPO, and ever since that day his net worth has floated upwards of $11 billion. Walmart, in fact, bought a 12% stake in his company.

 

But all of this started from Liu Quiangdong’s continued dedication to work and never giving up himself despite what other people valued him at. Perhaps it was his old boss and coworkers’ treatment of him which made him realize that he was worth more; we’ll never know. But one thing that we do know for sure is that business mogul is now one of Business of Fashion’s top 500 most influential people and has invested nearly $400 million into Farfetch.com: the online place to buy luxury goods from 7,000 different sellers. See This Article for additional information.

 

Source Link: https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu

 

 

The Transition of JD.Com from Physical To Online Stores Through The Efforts Of Richard Liu Qiangdong

 

JD.Com is one of the leading retailers in China, distributing all kinds of products to customers globally through online marketing. This company was founded in 1998 by Richard Liu Qiangdong, who is the CEO and the principal of the organization. He has been running the organization with a lot of passion so that it can serve its customers to his expectations.

 

Richard Liu Qiangdong is one of the billionaires in the Republic of China whose career journey seemed to have taken a different route from what had been designed for it. At first, Richard Liu Qiangdong wanted to become a politician, and so when he joined college, he pursued a degree in sociology and political science. However, like any other youth in the country, getting some employment was not easy for him and so he decided to do something different that would bring him some cash.

 

In 1996, he started operating a hotel, which he began using some borrowed funds from his family. This business did not succeed as he had anticipated and hence he shut it down shortly after the sixth month of operation. Richard Liu Qiangdong then looked for some employment and wherever he got it, he was never rewarded as he would have expected. This challenged him to seek something different again that would provide him sufficient income that would cater to his needs and those of his fiancé. This was when he decided that he would make good use of some skills that he had learned in college where he had done an additional course in computer engineering. He began JingDong, a company that dealt with the sales of computer accessories and other tech devices.

 

However, Richard Liu came to learn a very crucial lesson in his career in 2003, when there was an outbreak of SARS. This outbreak limited the movement of both his workers and the customers. This affected the business negatively, and he decided that he would change the operation strategies of the company so that its sales would not be affected by such happenings in the future. He transitioned the business from physical stores to an online store, which serves customers globally, and named it JD.Com. Go To This Page to learn more.

 

More about Quiangdong on https://www.chinamoneynetwork.com/2018/10/18/jd-com-opens-up-its-logistics-network-to-users