Richard Liu Qiangdong: Contributions In The Growth Of The Chinese E-Commerce Industry

 

The dawn of the internet provided a considerable advantage to those who are in the retail industry. Today, the e-commerce industry is experiencing a boost, thanks to the innovation and development introduced by the pioneers of some of the largest e-commerce websites in the world today. Richard Liu Qiangdong, owner and the current CEO of JD.com, is the leading retailer in China today. He started his e-commerce business in 2004, and it is currently in a close competition with the Alibaba Group.

 

JD.com transformed the way Chinese people buy their needs, just like how Amazon is continuously changing the way American society shops. Through the success of the strategy that Richard Liu Qiangdong implemented in his company, his net worth grew, and he is among the wealthiest people in the world today. It was reported that his net worth is more than $13 billion, and it keeps on increasing as his online retail business starts to become known overseas.

 

JD.com, or the Jingdong Mall, sells every kind of merchandise one could imagine. One of the advantages of shopping with JD.com would be the fast delivery of the item that one has purchased. JD.com has a fleet of vehicles and warehouses which tries to provide the quickest delivery option for their clients. This year, the company signed a partnership agreement with a logistics company that would make it possible for items purchased on JD.com to be delivered in the most remote locations in China. Another advantage brought by this partnership would be the faster delivery time – as one could expect for their package to arrive hours after the order was placed. Visit This Page for related information.

 

Originally dreaming of becoming a full-time politician, Richard Liu Qiangdong decided to become an entrepreneur instead, knowing that it would be next to impossible for him to win a position at the local elections and serve the government. He realized that he could earn more money if he will be engaging in trade and business, and by 1998, he opened his first computer and hardware store. However, the collapse of his first business gave Richard Liu Quiangdong the inspiration to rise and build a new one.

 

See also: https://www.thecasecentre.org/students/products/view?id=148717