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.