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How Has Richard Liu Qiangdong Transformed The Retail Industry?

Richard Liu Qiangdong is also understood as Richard Liu. He is the CEO and founder of JD.com, among the largest e-commerce platforms in China. He has a degree in sociology from the University of Renmin in China. As a student, Richard Liu honed his programming skills by working as a freelancer. After graduating, he was hired at Japan life, a health product company. At the company, he held different roles such as director for business and director for computers.

 

After leaving Japan life in 1998, Richard Liu opened his own shop that sold magneto-optical products. Jingdong was the name he gave to the company and by 2003 the company had grown to twelve stores. During the year, there was a SARS outbreak which forced the customers and employees of the company to stay house-bound. This was a threat to the future of Jingdong. This made Richard Liu consider his idea of brick-and-mortar, thus leading to the formation of JD.com.

 

By 2005, Richard Liu Qiangdong had closed down all his stores and shifted his focus to e-commerce. He started selling electronics, and quality consumer goods using the platform. Many people in China began to use e-commerce to buy and sell products because they did not want to risk going out and get infected with SARS. Over the years, JD.com has struggled to compete Alibaba in terms of e-commerce.

 

To compete effectively with Alibaba, and change the supply chain, JD.com has partnered with many offline retail stores such as Walmart and electronic shops. The products sold on JD.com ranges from seafood to fresh fruits. These products are stored in the stores, and they are made available for online orders through the help of JD.com. See This Page for related information.

 

In an interview with Richard Liu, he said that the company’s partnership with Walmart has changed the supply chain. Customers leaving close to the stores can order products, and they will be delivered within an hour. The combination of physical and online experience for customers with the help of mobile applications have improved customer experience, and it has exceeded their expectations. During the interview entitled “An Insight, An Idea”, Richard Liu said that his ambition is to expand the company’s supply chain ability to other parts of the world so as to connect many more brands.

 

Learn More: https://www.businessoffashion.com/community/people/richard-liu