E-Commerce Genius: Richard Liu Qiangdong

 

Graduating from one of the most prestigious universities in China, Renmin University with a degree in Sociology back in 1996 – Richard Liu has invested his time and effort as a young adult in developing and practicing his technological prowess through diving through independent coding work. Richard Liu Qiangdong after finishing in Remnin University, he then followed this up with a Executive Masters Business Administration Degree from the China Europe International Business School — where this was followed by a career in a Japan Life. From here on out, Richard Liu built his e-commerce empire to what is now known as JD.com.

JD.com is now backed up and supported by stockholders and major business partners like Walmart, Farfetch, WeChat and Alibaba to name a few. This is cemented on the skills, professionalism and trust founded by Richard Liu.

Richard Liu’s company, JD.com is the very first China based Internet company to be part of the Fortune 500 List – and Richard Liu Qiangdong in Fortune’s list of the “World’s Greatest Leaders”.

Earlier this year, back in January, in Davos – Klosters, Switzerland – Richard Liu Qiangdong attended, and delivered a speech to all of the world, and in front of world leaders: United States President Donald Trump, Chancellor of Germany Angela Merkel, United Kingdom Prime Minister May, to name a few.

Here as well, Richard Liu was interviewed by David M. Rubenstein to discuss how Richard Liu Qiangdong metamorphosed the retail industry through innovations in the supply chain.

Richard Lie Qiangdong discussed the newest retail strategy which is customer centered and that JD.com is a company that provides product and experiences. In this age of new retail, less experience is had by the consumer under asymmetric information and obstacles in shopping. Richard Liu’s new retail strategy is very focused on consumer engagement – such as customer stickiness, interaction, traffic and user base in the goals of improving sales conversion rate.

Basically, it is a hyperaged strategy of the flow of analyzing what is needed, deciding on which products to produce, comparing and choosing which channels to purchase them from and to further drive sales rooted from consumer interaction. View More Information Here.

 

This is how Richard Liu has pioneered and lead JD.com in his e-commerce empire.

Learn more about Richard on https://www.scripps.org/physicians/18780-richard-liu?tab=overview

 

 

Top Facts About Richard Liu Qiangdong

 

Richard Liu is the founder, chairman, and CEO of JD.com, which is one of the largest e-commerce platforms in China that specializes in sales of computers and computer accessories. During an interview conducted by the World Economic Forum Annual Meeting, Liu was able to give an insight on how to build a successful business without fear of failure. JD.com was started in 2004, and the name comes from Liu’s first name and his girlfriend last name. Liu first started working in his family transport business before joining a college in Beijing. While in school, Richard Liu started a restaurant business that failed miserably due to time constraint.

 

He later started a retail company that had a store around the city selling computer accessories. Richard Liu said that he was motivated to do business due to financial challenges facing his family. He states that at one point his grand mum was sick and the family was unable to raise money for medication. Therefore, Liu realized that he needed to make money. However, when the SARS epidemic hit the country, Liu had to close the store for fear of losing workers. This was when the idea of selling the computers on an online platform was born.

 

Richard Liu’s company took six years to put all the products online and focused on selling original products. Currently, the company enjoys a market value of $60 billion and 167,000 employees. Richard Liu has indicated that JD.com will be the top seller market for computers in China.

 

The company has an excellent market valuation, finance, technology and logistics, which will help it to emerge the top market in China. The firm can ship product around the world including Washington, London, Paris and many more within 15 days. But local shipment will only take an average of six hours in major cities and 20 hours in remote areas. Most of the popular product purchased by consumers on the JD website include fashion, food and consumers’ goods. The company has about 500 logistics centers. The company is focused on going global with their core business: e-commerce, technology, and logistics. View Related Info Here.

 

See also https://www.hugessen.com/person/richard-liu for more info about Richard Liu.