Richard Liu The Founder Of JingDong Mall, JD.com

 

Richard Liu Qiangdong is a highly prolific businessman in China who plays a vital role in e-commerce businesses. He is the founder and the chief executive officer of JingDong Mall also known as JD.com. JD.COM is the leading e-commerce platform in the world which allows customers from China mainly to purchase goods and products from the comfort of their homes. The company has a good reputation in China and the Asia continent at large. It was launched in the year 2004.

Before launching the platform, Richard Liu used to possess a physical mall known as JingDong Mall whose initial name was 360buy. The mall was founded back in 1998 where he used to sell and supply magneto-optical products. Richard Liu is a highly skilled and professional person with a bachelor’s degree in sociology and master’s degree in computer programming. He received the bachelor’s degree from the University of China and the master’s degree from the international university of Europe and China.

He is well known in China as the pioneer of online shopping. Liu started practicing business while he was still a university student and he began by starting by a restaurant venture which collapsed a few months after its establishment. He then left the business and started working after completing his studies with one Japanese health product company as a director of business and computers. See This Page for additional information.

After working with the company for some years, chard Liu started his own business, and he opened the Jing dong mall. His business was thriving and performing excellently until the year 2003 when it recorded poor performance and as result losses. This was due to the SARS outbreak which had affected the country that year. The outbreak forced clients and staff to stay indoors, and this forced Rich Liu to think outside the brackets.

In the year 2003, Richard Liu designed a website from which the customers could buy their items at the comfort of their houses and get delivered. In 2004, Liu entirely transformed his business into an online one and called it JD.com. It was the first platform for conducting online shopping.

 

More about Liu on https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu

 

The Beginnings Of Richard Liu Qiangdong And JD.com

 

Richard Liu is one of the world’s most successful entrepreneurs. Valued by Forbes at a net worth of $11 billion, firmly establishing Richard Liu Qiangdong as one of the wealthiest people on planet Earth, the business magnate is known for his creation, expansion, and near-flawless operation of Jingdong, one of China’s largest e-commerce platforms.

JD.com, also known as JD or JingDong Mall, was born in 1998 as a brick-and-mortar electronics retailer based in Beijing, China. In 2003, the company had 12 locations. The next year, Liu opened JD.com – the rest is history.

The beginnings of JD.com

In 2004, Richard Liu’s company didn’t have the oodles of cash available that it currently does, limiting its ability to purchase goods to stock the company’s beginning inventory. At first, Jingdong began selling computer products that were often part of companies’ information technology infrastructures. Next came digital goods and mobile phones. Shortly after JD.com began stocking mobile phones, digital products, and a greater variety of computers.

Six years after Jingdong migrated into the online retail sector, JingDong Mall was fully stocked with all kinds of products.

Though Richard Liu Qiangdong wasn’t sure if his business would perform well after it became a tried-and-true, real-deal e-commerce platform instead of a retailer of electronics, the switch proved to be the best move of Richard Liu’s career. Go Here to learn more.

Here’s where JD.com stands today

Jingdong is currently valued at slightly less than $60 billion. The company also employs some 170,000 people. The company operates several subsidiaries and offshoots of its core business, such as JD Finance and JD Worldwide.

In mid-2014, Richard Liu Qiangdong managed to have JD listed on the NASDAQ Stock Exchange in New York City, New York. Jingdong was the first e-commerce platform from China to have its shares of ownership publicly traded on an American market. Just two months after the news from NASDAQ came, JD Finance pumped out a secure crowdfunding platform that remains one of the most popular in China.

Under the guidance of Richard Liu, JD Worldwide began importing products under its brand-new, international e-commerce platform that was separate from JD.com.

 

More about JD.com on https://www.chinamoneynetwork.com/2018/10/18/jd-com-opens-up-its-logistics-network-to-users

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.

 

Visit: https://www.wealthx.com/dossier/qiangdong-liu/

JD.com: An Eco-Friendly Option

 

The recent article “JD.com Launches New Reusable Package Initiative” talks about a change in the way that Jingdong Mall is going to conduct their shipping in the future. Per this post on their corporate blog, the company has already started this reusable package initiative in four major cities throughout China. Cities like Shanghai and Beijing will begin receiving an option to use the corporate branded “green box”. Many customers may be feeling uneasy about the change, but JD.com shores them that this change in shipping will not result in a change in price. Customers will pay the same prices that they always paid, this reusable package initiative is free.

 

Jingdong Mall is simply looking for a way to reduce their substantial carbon footprint and this is one of the best opportunities they have seen thus far.

 

The novel new boxes are currently only available for medium and small package items. Customers will also be interested to learn that this is not going to be an option available to them when it comes to the shipment of fresh food. Unfortunately, Jingdong Mall has made the decision to forgo its usage with fresh food to protect the public from any foodborne illnesses. The packaging will work for items such as jewelry, small electronics, beauty items, and other medium-sized household products. The company hopes to expand the coverage of this program to 20 Chinese cities by the end of 2018. They have hopes for future implementation of this program in a companywide capacity. Currently, these boxes can withstand up to 10 shipping instances until they are no longer usable. Go Here for additional information.

 

While these boxes signify an interesting change in the way that Jingdong Mall conducts their business, it is not a pattern that is uncommon for the company. They recently decided to change the packaging for their items as well. In fact, it is the company’s hope that soon more than 80% of the packaging that they have will be easily recycled by the general public. At this stage, it appears that Jingdong is taking significant steps to become one of the eco-friendlier retailers on the market. Only time will tell how successful this initiative will be for the company.

 

See also: https://www.gizmochina.com/2018/06/22/googles-550-million-investment-in-jingdong-could-see-its-hardware-products-selling-on-jd-com/