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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/

 

 

 

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