Richard Liu Qiangdong Talks Business And Entrepreneurship

 

Richard Liu Qiangdong is more than just a Chinese internet star and e-commerce billionaire. He also happens to be a business guru who has a long experience with trial and error as well as making things work. He was born sometime in 1973 to coal shippers and from an early age, he always wanted to be a politician. But the guru, who is also a Red Cross volunteer, decided to make a shift and become an entrepreneur. Liu begun trying his hand in business while he was still a student at Renmin University in China but it wasn’t easy. Thankfully, he learned from both his mistakes as well as misfortunes and prevailed.

 

Founding JD.com

As soon as the SARS epidemic struck China and destroyed a lot of businesses, Richard Liu was quick to evolve. He turned his business online where interested clients could easily make a purchase online and have their items delivered within record time. But since Richard Liu Qiangdong had limited monetary resources, he only had to deal in a handful of electronic items. But by 2010, he was in a position to offer just about everything his clients wanted. Richard Liu also had the ability to provide nothing but original goods which was something that most e-commerce platforms at the time pretty much needed. Today, JD.com has an estimated worth of close to $60 billion with well over 167,000 employees worldwide

 

The Relationship Between Business and Service

While still talking on the world economic forum annual meeting, Richard Liu Qiangdong was quick to assure everyone that JD.com is one of the best  e-commerce platforms in the world. And this was simply because they are dedicated to giving their esteemed clients nothing but the very best of service. Richard Liu Qiangdong was quick to acknowledge the fact that a lot of e-commerce platforms don’t listen to customers. For starters, he was keen to improve on the delivery time from a couple of weeks to just under 20 hours. And this was irrespective of where the clients were. He also stated that they only deal with original goods, which was another problem that most e-commerce platforms at the time were clearly struggling with. Get More Information Here.

 

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Richard Liu Qiangdong Discloses How He Built His E-Commerce Retailer

 

Richard Liu Qiangdong is the intellect behind JD.com, an e-commerce giant which serves China, Vietnam, Thailand, and other parts of the world. The e-commerce boasts of a large selection of consumer goods ranging from high-end apparel to fresh foodstuffs.

Jingdong started as a small shop based in Beijing. It sold computer parts. Within five years, Richard Liu Qiangdong extended the shop’s boundaries to 12 different locations. According to his interview with the World Economic Forum, Mr. Liu said that he worked hard to raise funds for his ailing grandma’s medical bills.

Richard Liu Qiangdong decided to convert his brick and mortar stores to an e-commerce store in 2004 when the SARS outbreak hit China. During that period, people were advised to remain indoors, as a way to avoid the deadly respiratory disease.

Mr. Richard Liu Qiangdong shifted from selling computer parts to selling almost all sorts of consumer goods. The online store supplied electronics, furnishings, groceries, foodstuffs, furniture, and clothing. Unlike his rivals, Qiangdong made sure that his store provided quality products.

Besides supplying quality goods, JD.com invested heavily in logistics to let its customers receive their merchandise within the shortest time possible. Richard Liu acknowledged that the quick logistics was one of the schemes that navigated his e-commerce to the industry’s top position. See Related Link for more information.

Today, JD.com has grown to be one of the most successful e-commerce in Asia. It has a valuation of $67 billion. It employs over 162,000 people, and it is on the verge of extending its boundaries to the global market.

Richard Liu also disclosed that JD.com intends to partner with more European retailers as part of the initial steps towards its European expansion. By doing so, Jingdong will allow leading brands to access the Chinese market through its online platform. On the other hand, JD will also promote leading Chinese brands in the European markets through its online platform.

During the World Economic Forum interview entitled “An Insight, An Idea”, Richard Liu Qiangdong disclosed that his e-commerce had started partnering with foreign brands as a plan to woo international customers. “Our e-commerce store is eying the United States and Europe markets in its first phase of expanding into the global market,” added Richard Liu.

 

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