Richard Liu Qiangdong has an incredible success story. The 44 years old businessman founded JD.com in 2004, which is an industry leader in the e-commerce market of China. The business first started as a brick-and-mortar business called Jingdong in 1998. Richard Liu studied for his sociology degree in Beijing and later pursued an EMBA. He has always had the interest in being an entrepreneur and it is this passion that has helped to build a multi-billion dollar company. The estimates by Forbes show that the company has a value of $ billion and its owner is at $11 billion.
Entrepreneurship has not been an easy path for Richard Liu Qiangdong. He once failed in this endeavor when he opened a restaurant while still a student in college. However, this set back did not discourage his from opening Jingdong in 1998. Even though his parents were not very successful in their transport business, they were a source of inspiration for Richard Liu to joining the business world. See This Article for more information.
What he started as a shop selling computer part, expanded into other eleven locations. It was a great achievement, but in 2003 it was threatened by SAR outbreak that kept clients in their homes out of fear of getting infected. Richard Liu Qiangdong also had to ask all his workers to go home. The situation demanded him to rethink about the model of the business, and that is when he decided to move into the online business.
He changed the name of the business to JD.com and created an online platform that allowed customers to shop for wares online. In 2004, there were other online companies selling IT parts that were in competition with Richard Liu’s company. Liu developed a strategy of gaining a competitive advantage, which was stocking genuine parts at fairly affordable prices. Within no time, the company picked up and he started bringing in other types of products.
Richard Liu Qiangdong expresses that the Chinese market is not without competition from other online companies such as Wal-Mart, but JD.com is doing better than them. The goal is not to dominate the Chinese market only but to become the leader in the whole world.
View Source: https://www.jonesday.com/rliu/
Southeast Asian market is unique in terms of consumer behaviors. Unlike the western world, e-commerce is still in its formative years. However, on the scale of growth, it is the fastest growing commercial niches in this part of the world. The growth has attracted many international e-commerce companies. In the last few years, however, Jingdong has outsmarted the other companies. The entity is without a doubt the best performing entity in this part of the world.
The recent JD’s entry to Thailand has revolutionized the commercial space in this country. The partnership with Central Group, which is a Thailand company, they have created JD Central. The new entity has been dubbed as the future of Thailand trading. With just less than sixty days of operation, JD Central has experienced exceptional traffic.
It is consistent with the Jingdong tradition of customizing e-commerce through selling goods that are not only high quality but also relevant to the targeted market. A quick scan through the JD Central gives the perfect impression of a one-stop shop. There are all types of goods from different countries and by different manufacturers. There are all types of home appliances, fashion goods, gadgets, electronics, and all fast-moving home goods.
The customer relation of JD Central is in line with the international standards. The dynamic and active customer service is also consistent with the Jingdong policy towards the customer’s satisfaction. The platform has a whole subsection dedicated to customer care, and the numbers provided are active. View Related Info Here.
Apart from the JD Central initiative, bringing San Miguel on board was not only timely but also futuristic dealings this year. E-commerce platforms rarely have ambition such as San Miguel- JD.com partnership. The primary purpose of this partnership apart from making fruits available to customers is encouraging people to be conscious of what they eat.
San Miguel as a company benefits massively from the Jingdong broad market and e-commerce infrastructure. Part of this phenomenal deal was to make San Miguel products available on JD.com e-commerce platforms. On the other hand, Jingdong will give its customers access to one of the best and the biggest fruits dealer in the Southern Hemisphere.
See Also: https://www.marketwatch.com/investing/stock/jd