The work of Richard Liu Qiangdong is well known in China, but he has only recently started to gain notoriety on the global stage. He is the man behind the development of JD.com, a very popular retail site in mainland China. The company is set to rival some of the Western retail sites that dominate the global market such as Walmart.com and Amazon.com.
Before Richard Liu felt as though he was confident to take on these big entities, JD.com was struggling against the retail market of the online community in 2005 when they began. 2005 was a difficult year for Jingdong Mall, the founding company behind JD.com, because of the significant SARS outbreak in that part of China. People were hesitant to come out and purchase things and Jingdong Mall was an electronics store. Is this was not a priority for people at the time. Go To This Page for more information.
Richard Liu shared in an interview with Weforum entitled “An Insight, An Idea”, about how growth in those early days became a strategy game. If they wanted to succeed, they needed to find a way to beat out their competitors.
One of the biggest things that Richard Liu Qiangdong discovered about his competitors is that they were offering counterfeit goods. A lot of times, these companies would look for ways to cut costs. One of the ways that they would do this is by selling goods that were substandard or completely counterfeit. Customers would get their items and they were not at all what they ordered. Richard Liu Qiangdong did not want JD.com to earn that type of reputation.
Today, JD.com can deliver packages in as little as an hour to customers in large cities. The items that they offer are authentic and of good quality. Customers have the option of perusing a variety of items in a variety of categories. JD.com expanded from their original business model of electronics. For the founder Richard Liu, he believes that JD.com is more than ready to move into the next step of the retail market. The current state of JD.com is very supportive of growth in these communities. Adaptation has been a major part of the company’s mantra since the very beginning.