Richard Liu Qiangdong is one of the investors who has gone an extra mile to ensure that all the customers in the tech industry receive the best services that they deserve.
His work at his tech firm, JD.Com, has been quite magnificent and a lot of people have applauded him for his efforts to enhance efficiency in the tech market through innovation. The innovation that Richard Liu introduced to his firm was unprecedented in the retail markets that dealt with the sales of tech-related products.
Instead of customers having to travel to the premises of Richard Liu Qiangdong to look for the products that they needed, Liu introduced an online platform whereby all the products and services would be available to the customers, and hence they would make all the transactions through the internet. On top of that, the platform ensured that the potential customers got the right instructions and information regarding the company and its products. This ensured that they would make the right decisions while purchasing the products of JD.Com.
However, the innovative decision to digitize the organization did not come like a dream. It was after the sales of the company had been adversely affected by an epidemic and hence reducing the sales and profitability of the firm. In 2003, Richard Liu Qiangdong’s company, JingDong had shown a lot of growth and development. This was after operating for five years, since 1998 when it was established. However, there was an outbreak of SARS, which resulted in the government declaring a curfew that restricted all the people from accessing the city.
As a result, the customers and the employees of JingDong could not reach the market and the stores, and hence the revenues reduced drastically. After the outbreak, Richard Liu Qiangdong figured out how he would do his operations differently to serve his customers without the risk of facing such downtime moments. He decided that he would shut down all the twelve stores that he had opened within the city and all around the country, and integrate all his sales and customers using an online portal. He converted JingDong into an e-commerce business and transformed its name to JD.Com. See This Page for more information.