Chinese eCommerce company JD.com is among the most valuable businesses based in China, and it is also one of the largest retailers in the world. It was founded by Richard Liu Qiangdong in 2004, and it was an offshoot of a company called Jingdong that was founded in 1998. Currently, JD.com is worth $60 billion according to comments made by Liu during a discussion at a WeWorld event.
Efficiency Helps JD.com Stay Ahead
Richard Liu Qiangdong said that the company has 500 logistics locations throughout China, and this makes it possible to get items to most customers within about six hours. He said that about 97% of orders reach customers within 20 hours, and delivery time depends largely on where a person lives and when an item is delivered.
A Wide Selection Of Goods Keeps Customers Coming Back
Another reason why people keep coming back to JD.com is the fact that it has such a large assortment of goods. Richard Liu said that the website has roughly one billion items that people can buy, which is significantly more than Walmart. Liu said that clothes and food are among the more popular items available for purchase. The fashion category tends to feature items that have the highest margins. See This Article for more information.
Items Get Turned Over in a Matter of Days
Richard Liu says that there are about five million items held in a warehouse at any given time. It takes about 34 days for a warehouse to completely sell out, but Liu mentioned that new technology would make it possible to cut that down to 20 days.
About Richard Liu Qiangdong
Richard Liu Qiangdong is a true entrepreneurial genius and recognizes the power in of broadening his horizons. Richard Liu started his career doing freelance computer work while in college. He used the money to help finance his education, and the experience helped him understand the need to embrace technology whenever possible.
Liu is considered as among the top entrepreneurs in the e-commerce industry. After launching his first online retail website sometime in 2004, he founded JD.com only a year later.
Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.
More about Liu on https://www.forbes.com/profile/richard-liu-1/
Richard Liu founded Jingdong in 1998, and in 2004, Jingdong became the eCommerce platform JD.com. The shift occurred because of changing market conditions as well as the SARS outbreak in China during that year. JD.com sells almost any product that is available on the market, but Liu says that the most popular products tend to be perishable items.
JD.com Offers Quality Service Throughout China
According to Richard Liu Qiangdong, customers in China are able to get orders within several hours no matter where they live. The ability to service rural shoppers was a point of pride for the man who is still the CEO of the company that he founded 15 years ago. He also prides himself on the fact that every customer receives the same level of service regardless of what they buy.
Liu Qiangdong has been recognized by the “Business of Fashion Top Performing Businessmen of 2018”. An award that is very well deserved by Richard Liu Qiangdong. It is a reflection of his consistency and excellence in his business.
What Motivated Liu to Become an Entrepreneur?
Richard Liu Qiangdong said that he was motivated to become successful because of his upbringing. His parents had a business that did not succeed, so there was little money to take care of him and his grandparents. Since the family had no money, there was little hope of Liu ever leaving the country or becoming a part of the government. Go Here to learn more.
Therefore, he had to attempt to make money by starting his own business. Liu Qiangdong was also motivated by the fact that everyone who he went to school with had a strong work ethic. He joked that the success of his classmates and friends was a good thing because no one has asked him for money.
About Richard Liu
Richard Liu is known as both a strong and humble leader who does not seek out the limelight despite the fact that he is a high profile individual. Each year, he spends a day personally delivering items to his company’s customers.
Visit his LinkedIn profile on https://www.linkedin.com/in/richard-liu-45113b47/?originalSubdomain=cn
Richard Liu, also called Liu Qiangdong, is the founder and owner of JD.com. He founded the company in 1998 and originally named the business Jingdong. The name came from joining his name with then-girlfriend’s name, Xiaojing. Jingdong sold magneto-optical products out of a four-square-meter shop in Zhongguancun High-tech Industrial Park.
Though Liu Qiangdong was surrounded by others selling counterfeit products, his shop thrived. By 2003, he had 12 four-square-meter shops throughout the city. The future looked bright until the SARS outbreak forced Richard Liu to rethink his business model. He watched several businesses around him close their doors forever and devoted himself to finding another way for his business to continue.
By 2004, Li Qiangdong moved his entire business online and added some more electronic products. The newly launched JD.com was a hit with customers, as Jingdong was a hit. In 2005, he closed his remaining brick-and-mortar shops and added even more products; this time, expanding beyond electronics.
As his company grew and reached millions, Richard Liu was surprised by his success. He’d come a long way since being a poor boy growing up in one of the most impoverished regions of China. When he first attended university, he wanted a career in politics. After experiencing the freedom and monetary benefits that came with business, he switched focus after earning a degree in sociology from Renmin University. Visit This Page to learn more.
Liu’s first taste of business came in the form of freelance work. He sharpened his computer programming skills to help pay for his grandmother’s treatment. He even earned enough money to buy his own restaurant, which was his first attempt at entrepreneurship. The restaurant failed miserably and Richard Liu ended up in debt and had to work at Japan Life, a health product company, for two years.
After paying off his debt, he founded Jingdong. Today, JD.com is one of the largest companies in China and worth over $60 billion. It has over 300 million customers, nearly the population of the United States.
More about Liu Qiangdong on https://www.crunchbase.com/person/qiangdong-liu
Jingdong, also known as JD.com has had a strategic partnership with a2 Milk Company, a New Zealand dairy firm since 2015. This relationship deepened and expanded in 2019. The goal is to sell more of this company’s high-quality milk in the Chinese marketplace by developing new innovative marketing strategies based on Jingdong’s research.
a2 Milk chose to partner with Jingdong and introduce its dairy products to Chinese consumers on the JD.com website. JD is the number one retailer in China that helps other companies achieve success on its platform. a2 Milk Company is heavily focused on China, considering it their top priority. Many Chinese parents of babies rely on a2 Milk as their products are safe and easy for babies to digest.
Jindong provided its unique insights into consumers to a2 Milk Company. They developed customized marketing solutions designed to increase its brand recognition and sales. During the annual “6.18” anniversary sales festival, a2 Milk was the best-selling brand on JD.com. The best-selling of their products was their Platinum Premium Toddler Milk Drink. Their sales were 210% higher than the 2018 anniversary sale.
a2 Milk also chose to join Jingdong’s “Brand Competitiveness Plan.” This is a 30-day program that helped brands develop marketing that would appeal to Chinese consumers. The plan identifies a brands target audience, the best way to reach them and increase its sales performance. Go Here for additional information.
JD.com identified people who had looked at a2 Milk Company products recently but hadn’t bought any yet. Coupons were sent to them which resulted in many of them being redeemed. One million customers also liked a2 Milk Company’s online store on JD.com.
a2 Milk Company’s subsidiary in China is called a2 Greater China. Its Chief Executive Officer Xiao Li said that China is his organization’s top growth market. Relying on Jingdong’s expertise has meant that his company has been able to make the most of the opportunity of selling products in China. One development in their partnership he cited was using JD’s blockchain technology to track his company’s products at every stage of delivery. This means that customers can be confident they are receiving a high-quality and safe product.
Visit their profile on https://www.linkedin.com/company/jd.com/
5G cellular networks are here and they are making waves. The introduction of fifth generation cell tech has many experts claiming that logistics and supply chain are about to be revolutionized. The revolution will not come from faster speeds or better efficiency, but rather the new power given to the Industrial Internet of Things (IIoT).
The Internet of Things (IoT) has been talked about for a while. It is the ability for web-connected devices to basically communicate with each other. Usually, such devices are smart phones, smart appliances, and other small devices with the word ‘smart’ in front of them. However, device-to-device communication is being utilized in a huge market of industries.
Companies use the IIoT for supply, marketing, logistics, and even farming. At present at least 10 billion devices are connected through the IIoT. However, IIoT still requires a human presence for communication to happen. 5G networks are bolstering the conversation about what would happen if smart devices interacted without the human element. Enter JD.com and its independently-run logistics firm JD Logistics. Go To This Page for related information.
JD.com is known globally for its use of advancing technology. Name any recent tech trend and most likely JD.com has already been trying it out. Jingdong is known for its use of commercial drone technology, autonomous robotics within its warehouses, and automated delivery systems.
JD is also known for its in-house logistics network. JD has also been using 5G IIoT to fuel its logistics. The result has been that 90% of Jingdong’s orders process and deliver same- or next-day.
In fact, They have become an advocate for 5G IIoT. Its experience utilizing it positive enough for the company to make 5G available to outside businesses through partnerships with mobile providers. This is not the first time Jingdong has allowed its processes to be available to other businesses.
JD is also a provider of “Retail as a Service (RaaS), and has marketed its infrastructure to other businesses for the purpose of helping them prosper. The possibilities for 5G are too good to keep to themselves so JD.com will be offering it as well. The integration is part of their creation of a smart supply chain which can only fully benefit with the entire ecosystem behind it.
One of the biggest fashion news in the last 60 days is the Prada-JD.com partnership. According to a press release by the two companies, the partnership is the beginning of a long friendship between the companies. The two companies are giants in their respective niche, and the following are some of the possible results from this partnership.
The partnership between the two companies will create a win-win situation for the two companies. Currently, Jingdong remains the biggest company in the Asia market, and with these numbers; it is the most appropriate distribution channel. On the other hand, Prada is an international entity, which apart from being reputable in sales, has a vast potential market in China. Therefore, the partnership between the two entities will allow them to exploit the already existing market but with professionalism.
The management of Prada — Asian market — believes that this relationship is the start of a new era, especially in the largest market in the world. On the other hand, JD.com — through its management — believes that this is a perfect opportunity for the company to give their customers more variety to choose. The company has signed different deals, all with one aim — to give their customers more reasons to shop with them. In a joint press release, the company pointed out that they are already in the final stages of ensuring that all the warehouses that Prada will be using are at par with their standards.
In addition to expanding their luxury market, Jingdong has also signed deals with other companies — dealing with different commodities. Some of these organizations include the following. Last month, the company signed an agreement with a New Zealand fruits company, and through this deal, the company will access quality fruits from New Zealand.
In an article with Gizmochina.com, “Google Invested 550 Million” with Jingdong. The partnership will include the promotion of JD.com products on Google’s shopping service. More details have now emerged that the partnership will also see Google selling its products on JD.com.
Jingdong also signed a partnership deal with farmers — to facilitate the supply of quality chicken products. The management believes that these partnerships will give the company a better chance to serve its customers well. In addition to working with other companies in different projects, the company has one of the best working relationships with Chinese people. Through various projects, Jingdong has invested part of their profits in community-based projected. Visit This Page to learn more.
View their YouTube channel on https://www.youtube.com/channel/UCj1O__aZW_05RdTCL8E3kUA