Richard Liu Qiangdong attended Renmin University, in Bejing China. He majored in Sociology. Richard Liu founded JD.com in 2004. Focusing primarily on unique, upscale merchandise, JD.com took off in sales and popularity almost immediately. The company has over 500 warehouses, which holds millions of items.
David Rubenstein, interviewed Richard Liu at the World Economic Forum. During the interview, Mr. Liu explained, that the company has over 5 million items, at an turnover rate of over 30 days. Mr.Liu explained, the goal of the company is to have even more merchandise, at a turnover rate of 20 days. This simply means that the items will have 20 days to sold and removed from the warehouse. During the interview it was obvious to see that the Richard Liu had big plans for JD.com.
As a Fortune 500 Company, JD.com has proven itself to be a serious competitor in the world of online retailer. The company has over 300 million active shoppers. Most of the shoppers purchase items via mobile phone. Actually 80% of all the orders that come in are by phone.
As the largest e-commerce retailer in China, JD.com has just about anything that a shopper may be looking for. Whther it’s cosmetics, electronics, or the hottest fashion when it comes to clothing. Items from the Banana Republic and Nike are just a few brands on JD.com.
As with any online shopping network, the amount of time that it takes to deliver items are important. In China delivery time averages 6 hours. However, in rural parts of China it could take longer. This is why, Richard Liu, along with his colleagues have designed the JD Drone system. This system allows the merchandise that has been ordered to be dropped off at any JD dropoff station. Once the item is dropped off, the item will be attached to the drone. The drone will have only a few more kilometers to travel. This system will save the company and the customer time and money.
About Richard Liu: www.jd.hk/richard-liu-jd-ceo-about