A graduate of Renmin University, Liu Qiangdong, otherwise known as Richard Liu has been an inspiration to the e-commerce website industry. JD.com is China’s largest internet retailer. With over 500 warehouses, holding more than 5 million pieces of merchandise, Richard Liu is determined to give customers variety and options at all cost.
David Rubenstein, at the World Economic Forum, inquire about the amount of choices offered to shoppers via JD.com. Richard Liu explains quite enthusiastically, that currently the company has over 5 million items to choose from, with an overturn rate of 34 days for the items to sell. Mr. Liu proclaims that their goal is to have even more merchandise available, with an overturn rate of 20 days to sell.
During the Davos interview entitled “An Insight, An Idea”, it was made clear to the audience, by Mr. Liu, that the goal of JD.com is to be number one globally. When asked specifically about Amazon, Mr. Liu stated, ‘Better than Amazon’. With the audience laughing and enjoying themselves during the chat with Mr. Rubenstein, it was obvious that, not only was Richard Qiangdong good at business, but he was also good at representing the company and China. See Related Link for additional information.
When making an online order, the first thing that comes to mind are the delivery costs. If the cost of delivery is too expensive, that could make a customer purchase less items. Richard Liu understands this very well, which is why he has come up with a strategy called the “JD Drone System”.
With this system drones will be responsible for delivering the items, in rural areas. Is this the first innovative idea, by Richard Liu? No. Is it the last? Definitely, not! Wherever there is an area that can work better, Mr. Liu will find it and invest money and valuable time to improve it, making the company that much better for its shoppers.
More about Richard Liu on: https://www.evergreendentalcarenh.com/