Richard Liu Built The Largest Retailer In China

When Richard Liu created Jingdong in 1998, it was a storefront that sold magneto-optical products in Beijing. The company was able to quickly grow within just a few years and Richard Liu soon found himself heading a chain of stores that consisted of 12 different locations by 2003. In early 2004, he made the decision to start selling his products online which led to the birth of the popular JD.com. Over time, the site became more and more popular and began selling a variety of different products. He began working on creating a better system for logistics to ensure that his customers were able to receive the products that they had ordered as quickly as possible. Soon, the company that was started by Richard Liu was able to ship products to rural areas who were used to having to pay higher prices in person at their nearest town.

One of the reasons why so many people trusted the products being offered by Richard Liu is the guarantee of authenticity. Richard Liu quickly realized that there were some big opportunities in these rural markets that did not have a lot of access to shopping other than online. He insisted that his company start creating their own logistics system with a national reach that consisted of many delivery and pickup stations in the majority of Chinese counties throughout the country. They began implementing this system and later on Amazon went on to follow their example by doing the last mile part of the delivery themselves as well. This is another step that Richard Liu has implemented to help assure customers that everything that they are buying has been guaranteed authentic from the time it was created to the time that it reaches their door. The method and model that he implemented is credit for the boom in Chinese e-commerce.

Richard Liu’s: Youtube.