“An Insight, an Idea with Richard Liu” published on Weforum.org discusses the success that has been centered around the growth of the China-based e-commerce company JD.com. JD.com is short for Jingdong Mall. The company was designed to offer customers a wide variety of products at a reasonable price. They have also become well known for their exemplary delivery times. The founder Richard Liu Qiangdong sat down with the interviewer to discuss some of the methods behind their success.
Liu Quiangdong believes that one of the biggest indicators of their success was there early commitment to quality products. When the company started in 2004 for this was sorely lacking in the Chinese target. Many of the online retailers had taken to producing low quality and counterfeit items. This left customers with low confidence in the retail market. They believed that many of the materials they were receiving were going to be of low quality. JD Mall offered them an opportunity to shop with confidence. Richard Liu Quiangdong explains that JD Mall was originally a brick-and-mortar business. The SARS outbreak in 2003 forced them to move their business online. This was one of the best decisions that they made.
At first, JD.com started selling customer parts and accessories. This was what the brick-and-mortar business had been dedicated to. Richard Liu Quiangdong tells his interviewer that they wanted to expand into other facets of the retail business. Every single year they started to delve deeper into those markets. He explains that after six years of doing this they were able to adequately represent almost every market in retail. They were also able to maintain a wide variety of stock. See This Article for additional information.
One of the most exciting things about JD.com to Richard Liu is there outstanding delivery times. He assures his interviewer that they can deliver products between three hours and 20 hours. This delivery time makes them extremely competitive with retailers like Amazon.com. Richard Liu believes that JD.com will continue to expand and eventually reach the global market. Quiangdong is hoping to spread into Europe and America soon. JD.com’s success is assured if Richard Liu maintains his position at the helm.