Richard Liu Quiangdong Talks More About JD.com
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/