Richard Liu Qiangdong has become a popular name in the e-commerce world for the success he singlehandedly achieved in a highly competitive and already saturated e-commerce market. The entrepreneurial journey of Richard Liu Qiangdong began in the year 1998 when he launched his first retail store in Beijing at China’s Technology Hub.
The small store he opened that sold magneto-optical products achieved tremendous success under his leadership and it empowered him financially to start a chain of retail stores across the country. Richard Liu understood that even though the market may seem competitive, there is always space for a service provider that focuses on quality in terms of quality products and services.
In the face of the crisis in 2003-2004, when entire China was going through the SARS outbreak, Richard Liu Qiangdong suffered massive losses in business. However, Qiangdong did not bog down and instead converted his physical retail operations into an e-commerce business. It is what has become the e-commerce empire that we know today as the JD.com. JD.com is listed in Fortune Global 500 and has annual revenue touching nearly $70 billion and growing.
Richard Liu is a futuristic person and knows the only way to grow in a highly competitive market is through innovation, and he continues to implement innovative and effective marketing strategies that help attract more customers as well as provide the customers with better products and services.
Richard Liu is a highly qualified individual as well and has completed graduation in sociology and post-graduation in business administration from the China Europe International Business School.
Richard Liu Qiangdong is looking for new ways to increase its reach and also add to the offerings of his company. Richard has started drone delivery of products to places that were unreachable in the past. It has helped Jingdong increase its customer base as it became the only company to deliver to remote places of China. JD.com is also using reusable packaging for its customers so that they can minimize the harmful effect of packaging waste that the e-commerce industry is known for contributing to immensely.
See also: http://richardliu.wikidot.com/