In the business world of today, innovation is the way to stay ahead of the competition. No matter what type of business, new ideas and technology are constantly used and developed to give better service to customers. This is especially evident in the retail world, where customers demand more and more services of those businesses they use on a regular basis. To make sure his business JD.com stays ahead of its competitors, company founder and entrepreneur Richard Liu is always seeking new and exciting ways to make his company bigger and better.
As China’s largest retailer, largest online retailer, and most successful internet company in terms of revenue, JD.com has demonstrated an exceptional run of success over the years. Because of this, Liu Quingdong has shown that by possessing an unparalleled desire for success and innovation, a company can provide excellent customer service while also implementing the latest technology.
Graduating with a degree in Sociology, Richard Liu realized soon after finishing college that he was in the midst of an economic revolution in China. Knowing there would be unprecedented opportunities for those who chose to take a chance at that moment, he used his knowledge of politics, computer programming, and business to create his company. Starting with a small store selling computer accessories, he focused on building a reputation for providing the very best quality and customer service in Beijing. By doing so, he was able to establish himself as the go-to store for those who needed help with their computers, setting the stage for bigger and better things in the coming years.
While his brick-and-mortar store was doing quite well, an unexpected change was on the way. In 2003, the SARS epidemic ravaged China, forcing Liu to close his shop. However, rather than give up on his dream of business success, Richard instead chose to enter the online retail world with the creation of JD.com. Though new to this area of retail, Richard used his prior business success and knowledge to quickly realize logistics costs were far lower than with brick-and-mortar stores. Once this concept was realized, he was able to quickly expand his online operations.
As JD has continued its exponential growth, one of its most impressive aspects has been its ability to quickly deliver its orders to customers. On average, an order in Beijing is fulfilled and delivered within only three hours, while those outside the city can be fulfilled within six hours. In fact, according to Liu Quingdong, an astounding 97 percent of JD orders are fulfilled and delivered within only 10 hours. Even more impressive, when it comes to fulfilling orders to the United States or other nations, Liu states these orders can be delivered within 10 days.
With continued expansion one of his top priorities, Liu Quingdong has done just that with his recent announcement of his company’s partnership with Walmart. By agreeing to buy Walmart’s online operations in China, the U.S. company in return agreed to invest heavily in JD. One of the most impressive ways this has been done is by investing more than $500 million in a motorbike delivery service for JD, allowing deliveries to be made throughout China in a fast and efficient manner.
As he continues to look for even more ways to improve JD, Richard Liu has no doubt he can remain ahead of the competition. Never an entrepreneur who has been afraid to take a chance on new technology, he expects even more aspects of high-tech retail operations will be in use at JD in the next decade. As a result, expectations are at an all-time high.