Richard Liu Qiangdong: JD.com And A Different Kind Of Retail Outlet

 

A lot of media attention has been focused on Richard Liu Qiangdong and his retail company JD.com. One of the reasons for this is because his company recently went public in the United States and started growing in value. This has triggered a lot of interest all over the world. We forums.org has taken this opportunity to speak with Richard Liu Qiangdong. “An Insight, an Idea with Richard Liu” that gives a lot of information about the mogul and where he is going and the development of his company. There are a lot of people out there who would love to learn about business from a man who has overseen such a massive amount of success in his short time in the business sector.

JD.com has managed to dominate the Chinese retail market. This is due, in part, to the fact that when it began in 2003 there were not a lot of policing methods for many of the retail businesses that operated exclusively online. A lot of customers were put in positions where they would either go without their products or they would have to accept the fact that some of them would not arrive as advertised. Richard Liu Qiangdong did not appreciate this brand of business. He explains to his interviewer for weforums.org that it was a dishonest way to conduct transactions. He did not want JD.com to fall into this type of business plan. Visit This Page for additional information.

Liu highlights the growth of JD.com in the interview by talking about some of their early products. They started by distributing computer technology, phones, and phone accessories. Eventually, Richard Liu believed that JD.com had developed a good customer pool and they could expand their retail categories. Richard Liu took this very seriously because he wanted to be sure that he upheld the quality and honesty that JD.com had become known for. Since Richard Liu was so discerning on this process, it took a full six years to implement the new categories. Once the categories were in place people began to use JD.com for everything. One of the things that he is most proud of when it comes to his business is that they can deliver items very quickly. He even mentions that they can deliver some items in less than three hours.

 

See also: http://www.dcvelocity.com/articles/20181018-jd-com-unveils-plans-to-study-underground-urban-fulfillment-network/