The Impact Of Richard Liu Qiangdong On The Tech Industry Using His Firm, JD.Com

 

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.

 

View source: https://jdcorporateblog.com/about-richard-liu-jd-com-founder/

 

Richard Liu Qiangdong: Changing The Way Businesses Do E-Commerce

 

A lot of people want to learn more about the success of Richard Liu Qiangdong. The reason for this is because Liu Quiangdong has proven to be quite the businessman when it comes to e-commerce. In fact, he has done so well in his field that he recently sat down for an interview with the Weforum.org team and to David Rubenstein. Rubenstein wanted to understand the choices that go into the daily operation of JD.com. JD.com used to be known as Jingdong Mall. Richard Liu had started the company back in 1998 as a way to bring in money for his family. Jingdong Mall did well as an electronics-based hub, but it was not until it went online in 2004 that it really took off as a business.

 

One of the most interesting things that David Rubenstein wants to know about Richard Liu Qiangdong is why he chose to move JD.com online. Richard Liu explains that at the time, SARS was running rampant throughout the Chinese population and he feared for his employees. He did not want to needlessly expose them to the virus and customers were reluctant to come out and shop for their goods. He believed that moving Jingdong Mall to an online entity would provide a sense of safety for both parties. It took about a year to set up after the 2003 crisis but it proved to be worth it. People instantly began buying products from his website. Click Here for more information.

 

Richard Liu Qiangdong tells David Rubenstein in one of the reasons why he believes that JD.com did so well in those early days was because they offered their customers a little bit of peace of mind when it comes to their products. Richard Liu had always been very discerning about the products that he offered in his store and this did not change when he went to an online-only business style. Liu Quiangdong took e-commerce very seriously and he wanted his customers to know that the products they were getting were official and as advertised. He explains to Mr. Rubenstein that this is a major part of their business practices today as well.

 

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