There is a lot of different ways that people can gain success, but retail can be quite a difficult mistress. Richard Liu Qiangdong has proven his ability to flourish in an ever-changing field. Often referred to by the shortened version of his name Richard Liu, has put his company on the market and place them in a position where they will soon be launched onto a more international marketplace.
The company was originally known as Jingdong Mall but in 2005 they moved to the more readily recognized moniker JD.com when they became an exclusively online retailer. The decision to move into an online marketplace was not an easy one for Richard Liu Qiangdong. The SARS epidemic had been a major concern for many Chinese business professionals and moving his store online seem to be a sensible way to continue being productive. View More Information Here.
The company has done well in this market. In fact, Richard Liu Qiangdong sat down for an interview with Weforum where their interviewer David Rubenstein questioned him about his success. JD.com originally started with electronics and their components but moved into other categories. Richard Liu said that this was a slow-going process because he wanted to be sure that these categories gave customers what they needed. He did not want to throw in merchandise for the sake of offering it. Many companies at the time were selling counterfeit merchandise and he did not want to add to the problem. This is one of the major reasons why he believes that JD.com is so trusted today.
In addition to their expansive stock, Richard Liu talks about their fast delivery times. He explains that in major Chinese cities JD.com is able to deliver products in as little as a few hours. They have their own delivery service so that customers can get their products right away. This commitment to their customers is major for the next step in Richard Liu Qiangdong’s plan.
He hopes that he can spread JD.com over to other markets. Liu believes that it offers a unique perspective to retail that will be very important in the coming retail market. For Richard Liu, consumers will want more out of their shopping experience and JD.com will be there to fulfill those needs.
More about Richard Liu Qiangdong on https://www.forbes.com/profile/liu-qiangdong/#711217232c0d