Richard Liu Qiangdong Gives His Insight On A Global Stage

Richard Liu Qiangdong is the founder, chief executive officer, and chairman of an e-commerce company called JD.com. This online retailer is the largest and the most successful e-commerce business in China to date. Before Richard Liu Qiangdong started his e-commerce business JD.com he had two other business ventures. He tried opening up a restaurant and he also tried to open up a business that sold health products unfortunately both these business were unsuccessful. Then in 1998 Richard Liu opened up a small retail business in Beijing that sold computer parts. The computer parts store what’s called JingDong and it became very successful that he was able to open up multiple locations. Unfortunately disaster struck in the form of a SARS outbreak and this outbreak affected Richard Liu Qiangdong brick-and-mortar stores tremendously.

This is when in 2004 he decided to switch is computer parts store from a brick and mortar to an e-commerce. Once Richard Liu Qiangdong got his e-commerce business up and running each year after the business just became more and more successful. JD.com still sells the highest quality of electronic goods but the company has also branched out into selling luxury brands and food as well. In 2016 JD.com was reported to have netted 37 billion in sales. Robert Liu is one of the most well-known names in China and globally when it comes to being an extremely successful Chinese businessman. Some of the traits that got him where he is today is hard work, creativity, innovation, and an aggressive personality.

Richard Liu Qiangdong has a unique way on how he thought of the name for his business which is JD.com. He actually stated the name came from the initials of he and his first girlfriend. He was dating her when he initially started JD.com so Jing is his first name and Dong is her last name. They combined the JingDong then they shorten it and the name JD.com was created. Richard Liu Qiangdong did experience his own trials and tribulations when he became an entrepreneur. He started out with two businesses failing. Then when his brick and mortar was succeeding he had another spell of bad luck that drove him to the e-commerce sector. Once he got into the e-commerce sector and JD.com was born he looked back.

JD.com Breaks Sales Records

The total amount of transactions and sales during the June 18th, or 618, sales event at JD.com were worth nearly $30 billion! The biggest drivers of success of this sales breakthrough were the introduction of new and exciting products to the Chinese market. Introduction of luxury products were also especially exciting. Jingdong was especially focused on the adding new products for this sale and beyond. Several fashion brands and other luxury companies have exclusive stores within the Jingdong website interface. This increases the relationship between customers and these brands, while also generating excitement. Transaction volume and growth during this massive sales event were primarily focused on cities and historically low-growth cities.

Over 100 million users were involved in the two major, recent Jingdong campaigns. These campaigns also help users work together and win prizes for the entire city. This is a unique marketing campaign and strategy in the Chinese market, but the success of it speaks for itself. There were several companies that recently launched on the site for the 618 sales even. Prada, Miu Miu, and Car Shoes were all added to flagship stores within JD.com. These Prada Group companies have similar goals to JD.com and partnering with JD.com allows Prada to increase its online presence and sales. There were also a ton of exclusive deals made available during the promotion for JD Plus Members.

These deals include privileges at hotels worldwide and discounts at several different brands at boutiques. For this first time, these benefits are expanding outside of China, making a JD Plus Membership even more valuable. The technology and logistical network utilised by JD.com allow for the success of the sales event. Fulfilment centres send most orders within 24 hours of receiving them – meaning that customers get their orders incredibly quickly. JD.com also has a smart customer service robot and during 618, it answered more than 30 million questions from customers. Most of the questions were answered by the robot without human intervention. This greatly helps JD.com as it allows for human workers in the customer service department to focus on more serious issues. Overall, the 618 was a smash-hit for Jingdong.