Liu Qiangdong’s Success In The E-Commerce Business
Liu Qiangdong is s a dominant internet entrepreneur and founder as well as the CEO and chairman of JD.com. The company is dominated by selling of electronic goods online. He had a challenging start that saw him venture into various businesses without any success. He started in the restaurant business, but it was not successful but being a persistent businessman, he later ventured into selling health products in Japan, but it also failed.
Richard Liu Qiangdong later ventured into the retail selling of computer parts in Beijing and opened 12 stores but was later hit by a Severe Acute Respiratory Syndrome outbreak and his staff and customers stayed home. After the epidemic, Liu Qiangdong decided to re-think his business model, and he launched an online store platform, and that’s when he switched to purely online stores only. He is one of the most famous internet celebrities merely because the JD.com board cannot form a quorum without his presence. Go To This Page for related information.
Liu Qiangdong not only sold electronics but also ventured in selling quality consumer products. The financial growth of JD.com is attributed to Walmart and Tencent being shareholders. Alibaba is his major e-commerce business competitor but to stand out it has developed various drone models for package delivery to rural villages. Liu Qiangdong also ensures delivery is done within the same day or the next day.
The firm has a strict policy against counterfeit products, which gives him a competitive advantage over his competitors. To verify the quality and authenticity of the products the firm sources goods directly from suppliers and resells to shoppers. This has enabled Liu Qiangdong’s firm to build trust with its consumers hence the increased customer base.
Liu Qiangdong has made a significant impact in China and JD.com being the first internet firm in China to be in the Fortune 500 List in 2014 and 2016. Liu Qiangdong firm has accumulated a fortune after transformation from physical retail stores to online stores, which has made his organization the second largest e-commerce firm after Alibaba in China. His achievements are demonstrated by the numerous national and international rewards he has received for his business work ethics, entrepreneurial skills, innovative nature, and leadership ability.