Richard Liu Qiangdong is a Chinese billionaire who is often compared to the Jeff Bezos of Amazon because they both are self-made. Richard Liu Qiangdong started JD because he had to shift his physical retail business to online forcefully. If you are not new to the e-commerce industry, you would already know the contributions of Richard Liu Qiangdong.
JD.com has become the second-largest retail company in China today after Alibaba and is considered to be the best when it comes to electronic goods. But, the company offers much more variety than its competitors, and their delivery system is also the best. The owner aims to become number one overtaking Alibaba in the coming years, and the process for it has already started.
Richard Liu Qiangdong was initially interested in the world of politics, but he understood later on that for financial security, he has to attend a business school to get a good paying job. There are other retail companies that are shifting their operations online because it is more profitable and the cost of operations is also low compared to physical companies. Read This Article for additional information.
However, Richard Liu Qiangdong started the online retail business when the entire country was facing a SARS outbreak. The online retail business has been witnessing tremendous growth in the past few years due to the tactful marketing and retail strategies that Liu Qiangdong has conceptualized and implemented. It is not easy to grow the online retail business in a country where Alibaba has already been dominating, but it is what JD has been able to achieve in a considerably much shorter period of time.
Richard Liu Qiangdong is open about his competition in the e-commerce market and feels that a healthy fight allows his company to do better. Liu’s company invests heavily in improving the system and upgrading their procedures to cut down on the cost and increase the efficiency of their delivery system. Richard Liu Qiangdong wants to make sure that his company is always on the top of new technology and adapt faster than any other e-commerce company. He feels that it is the only way to cruise ahead of the competitors.
Visit Liu’s page on https://www.crunchbase.com/person/qiangdong-liu