Category Archives: E-Commerce

Home / E-Commerce
6 Posts

 

The growth of JD.com starts way before the foundation of Jingdong Mall, it’s creator company. It starts with founder Richard Liu Qiangdong. Weforum wanted to discuss the growth of the company with him in a recent interview. The interview, entitled “An Insight, An Idea”, touches on some of the aspects of his life that he believes were instrumental in his eventual development of the company.

Richard Liu received a degree in sociology from the Renmin University of China. While a student, Richard Liu tried several business ventures but the one that is well-known is a restaurant that he attempted to run during that time. Richard Liu Qiangdong tells David Rubenstein was Weforum that this was one of his worst business ventures. He explains that as a student he did not dedicate the proper amount of time to the process and the restaurant ultimately failed.

He tried again in 1998 when he started an electronics business, he dubbed Jingdong Mall. The creation of this business was borne out of a need to redeem himself but also to support his family. He had a grandmother who had always been helpful and supportive, he wanted to pay her back for all her kindness throughout the year. The business did well and continued to flourish until 2004 when SARS became a major concern for the Chinese public. Go Here for related Information.

In 2005, JD.com when living as an online exclusive retail store for electronics. Eventually, the company grew to include other categories such as home, clothing, and cookware. These extended categories are one of the reasons why Richard Liu believes that JD.com has expanded the way that it has. The categories that they offer to their consumers provide them with the goods that they need to have a well-rounded shopping experience. Richard Liu gives the distinct impression that it has always been the goal JD.com to provide consumers with everything that they need in one trip.

After dominating the online Chinese retail scene, Liu is now looking towards a more global market. Richard Liu Qiangdong has been instrumental in the price for tired the expansion. He believes that JD.com will be ready to take on the larger international retail giants very soon. He warns them to look out for JD.com’s unique brand of service.

 

Related Reference: https://vivo.brown.edu/display/rl11

 

JingDong continues to change the way that their 100s of millions of customers throughout China are able to shape by adding to more stores as part of their “Boundaryless Retail” vision.

 

JD.com’s most recent innovations were created in order to cater to the needs of their traveling clients. These new locations were built in an international airport and a busy train station and they both feature retail technology that is innovating and provides an exciting shopping experience for their customers. These new locations from JD.com add to their other shopping opportunities that include online, supermarkets, convenience stores and more.

 

One of Jingdong’s locations is an unmanned convenience store that is located in the Hohhot East Railway Station in cooperation with the China Railway Express company. Some of the technology from JingDong that is used in this store includes state of the art vending machines and a payment system that uses facial recognition.

 

Once customers select the products that they want from the vending machines, their payment is processed and the doors of the vending machines are closed. When purchasing items, customers have more than one option when it comes to how they receive it. If the customer wants their product immediately, they have that option but they can also choose to have it sent to a location that is more convenient for them such as their destination.

 

The second new location from JD.com is located at the Beijing Capital International Airport. This store is quite a bit different than the other newly opened retail location. The airport-based store offers a variety of products for customers to purchase and has integrated new technology from JingDong that will help them analyze the behavior and habits of their customers in order to give them the best experience. Read This Article for related information.

 

Their systems include ways to manage their inventory while tracking the traffic flow in their store of their customers using heat maps and other technology. Some of the many items that are being made available at their pop-up location include suitcases and bags for travel, travel needs, clothing, mobile accessories, makeup, and other beauty products that travelers often need to purchase.

 

Related article: https://jdcorporateblog.com/delivering-the-future-of-shopping-jd-com-at-ces-2019/

 

 

JD.com of Jingdong Mall was launched in 2004 by Richard Liu Qiangdong and is one of the biggest e-commerce platforms in China. Traditional bookstores are currently going through a revival as a result of JD.com’s new online book business.

 

In addition, Jingdong Mall provides solutions when it comes to book procurement, technology, and logistics to 49 book stores around the country, including AIO SPACE, and Yitiao, as a result of Jingdong Mall’s RaaS  or “Retail as a Service” strategy. Under the RaaS strategy banner, JD also provided services and technologies to a number of companies from various industries. The “Retail as a Service” strategy also went beyond retail, helping a popular restaurant chain cut delivery costs in 2017.

 

One significant partnership that resulted from the RaaS strategy has been between Tangning Books and JD.com. Tangning Books is a bookstore that has two locations in Guangzhou, and was managing over 60 book suppliers prior to partnering with Jingdong in 2017. As a result of Jingdong and Tangning Books partnership, sales grew by 30% from May to December, and the profits also grew by 17% over that period. The partnership also enabled Tangning Books to reduce their turnover to 220 days, and using JD’s resources they are now able to have insight when it comes to customer buying behaviors and is able to tailored to their customer base, which in turn leads to more sales. Click Here to learn more.

 

When talking about the partnership, the founder of Tangning Books, Ningxin Liu stated that without the tech and supply chain expertise of Jingdong, his business would not benefit from any competitive advantage. He also pointed out that being backed by e-commerce technology allows the offline book business to see a bright future.

 

Another important benefit that resulted from the partnership between JD and Tangning is the fact that the bookstore now allows customers to scan QR codes for the books that aren’t available at the store and they can deliver the books within 24 hours using JD’s deep inventory. Haifeng Yang of JD Logistics noted that offline bookstores is only one example of many industries that can benefit from JD’s expertise when it comes to inventory management, technology, supply chain, and data.

 

See Also: https://www.chinamoneynetwork.com/2018/10/18/jd-com-opens-up-its-logistics-network-to-users

 

JD.com or Jingdong Mall is China’s largest online retailer, prides itself in the provision of authentic, high quality products to its client in China and the Middle East. Since its establishment in 2004, Jingdong has experienced a tremendous growth in revenue and customer base. Currently, the online giant is estimated to have a net worth of $ 9.7 billion.

Jingdong is also known for the wide variety of products it offers on its online store. Although Richard Liu started the company as online electronics shop, Jingdong has gone ahead to offer almost every product that all its clients need. The products include apparel, food, toys, cosmetics, food, and other fast-moving consumer goods.

Jingdong has also entered into partnerships with world famous brands, who would want to reach the Chinese market. Due to the company’s use of cutting –edge technology in its business operations, it has earned a name as the most preferred partner in the Chinese market. One such partnership involves Walmart, one of the Americas leading retailers. Walmart is Jingdong’s second largest corporate shareholder after Tencent, with a 12% Stake. JD.Com also acquired Yihaodian, Walmarts e-commerce platform, after a financial distress in 2016.

This year Jingdong experienced an unprecedented surge in its sales volumes during the annual Singles Day Shopping Festival, which ran from November 1 to November 11. This year’s event was special in that Jingdong worked in collaboration with other retailers to create a completely new shopping extravaganza for its clients. During the festival, famous global brands like Dell, Apple, Pampers, L’Oréal, and SK-II among many others registered a record high number of sales. See This Page for additional information.

Due to JD.com’s superior marketing strategy, there was also a significant rise of sales in products from Germany, South Korea, United States, the Netherlands, and Japan.

JD.com’s partnership with other retailers during this year’s annual Singles Day Shopping Festival is a demonstration of the company’s commitment to open its online platform and infrastructure to other users. Currently, Jingdong has opened its “JD Blockchain Open Platform” and online stores to over 600,000 businesses. The businesses use the platform to market their products. Additionally, Jingdong has entered into a partnership with WeChat. Using the mini-program platform, WeChat assists to drive traffic towards JD.com’s online platform.

 

Related Reference: https://www.businessinsider.com/who-is-the-amazon-of-china-alibaba-dangdang-or-jingdong-2011-9

 

Biography

Richard Liu Qiangdong a billionaire and a renowned internet entrepreneur was born in Jiangsu, China in the early 1970s. During his child age, Richard Liu had ambition dreams of becoming a great person in the society. In 1996, he pursued a bachelor’s degree in sociology at the People`s University known as Renmin University of China; he later attained an EMBA at China Europe international business school. Richard Liu has a great experience on computers which he learned during free time. Richard Liu is married to Zhang Zetian and a father to two children.

 

After his graduation, Liu Qiangdong was employed in a Japanese health products enterprise to serve as a director for both the business and the computers; he was also a logistics supervisor. In June 1998, Richard Liu started his own company which specialized in distributing Magneto-optical products. This business expanded leading to the establishment of twelve more stores. Visit This Page for additional information.

 

An outbreak of a viral respiratory disease of zoonotic origin known as severe acute respiratory syndrome led to fewer customers in Richard Liu`s business, and as a result, he decided to involve himself with the internet. He created a website known as the JD.com in 2004 which marked the beginning of his e-commerce business.

 

JD.com

JD.com is among the leading online businesses in China. Richard Liu who is the chief executive officer established JD.com after dissolving all his previous stores. JD. Com is a multi-billion enterprise that deals with high-quality consumer products as well as electronics. This business has developed dramatically and serves almost a billion active users in a month. JD.com has prominent shareholders who foresee its success they include;

  • Walmart whose stake is at 12%,
  • WeChat owner who has a 15% stake in the company. WeChat a social network site its role is to ensure that JD.com has more active users than the company was previously.
  • com also has invested millions of monies with Farfetch to capitalize on the two companies’ maximum excelling in the luxury fashion field.

 

Despite the stiff competition from Amazon, Alphabet, and Alibaba companies JD.com has put in place plan that will create a more efficient online system in the future. JD.com is an enterprise that entails big data and robotics for creating the 4th industrial revolution.

 

See Also: https://www.businessoffashion.com/community/people/richard-liu

 

The interview on WeForm.org entitled “An Insight, an Idea Was Richard Liu” discusses some of the successes been experienced by JD.com. Many people around the world are not completely familiar with JD.com, but it is the largest online retailer in China. In fact, the company has been so successful that it is worth almost $60 billion. It is a major driver of the Chinese economy and has designs on entering the global scale in the coming years. The founder of the company Richard Liu Qiangdong has put considerable work into the growth of this company. He has used many of the lessons that he is learned throughout the years to make it one of the best companies it could possibly be.

 

One of the first questions that Richard Liu’s interviewer asks him is about the name for JD.com. Richard Liu explains that it was the result of a mash-up between his name and the name of his then-girlfriend. While the relationship did not work out, the company has grown substantially. The reason that the company has grown so well is that Richard Liu learned from a very early age that he would need to be hands-on with his business. He had tried to enter into the restaurant market, but unfortunately that venture failed. He explains that while it was a difficult time it taught him a lot about what it took to make a business succeed. He has applied those lessons to JD.com.

 

Richard Liu believes that one of the reasons why JD.com is so successful is because they offer a guarantee that was not readily available in 2004 when the company started. A lot of online retailers were simply offering products willy-nilly. Many of the items that they sold were broken, counterfeit, or of poor quality. JD.com was like a breath of fresh air for the customers in China. He wanted them to have confidence in their product. He is hoping that in the future the world will be able to appreciate the outstanding level of quality that JD.com puts into their product selection. He wants future customers to be on the lookout for JD.com. See This Article for more information.

 

Related reference https://www.crunchbase.com/person/qiangdong-liu