The online retail landscape in China has changed dramatically over the years. Since it was first created in 2004 JD.com has grown to be the number one retailer for the Chinese public. This successful company is headed up by Richard Liu Qiangdong.
Recently Richard Liu sat down and participated in the interview with Mr. Rubenstein who represented Weforum.org. The interview can be located under the moniker “An Insight, an Idea with Richard Liu”. One of the first things that Mr. Rubenstein wants to know about in the interview is where Richard Liu came up with the idea to create JD.com. He explains that JD.com is simply the online continuance of his brick-and-mortar location Jingdong Mall.
This is where Mr. Rubenstein wants to get more information about his previous business with Jingdong Mall. Richard Liu tells him about the foundation of Jingdong Mall in 1998. He explains that the business was originally created because he had a sick family member that needed medication. Unfortunately, the family business had failed, and they were out of money. He needed a way to bring in more money. This is when he started a computer technology business. In 2003 the business was in danger of going under because of a SARS epidemic. This is when he decided to move in the business to an online format. He tells Mr. Rubenstein that this was one of the best decisions that he has made as a businessman. Find Related Information Here.
Today, JD.com is worth substantially more money than it was at the beginning. In fact, it is valued at more than $50 billion. Citizens all over China use JD.com to order anything from computer parts to food. Richard Liu explains that citizens can receive their items in as little as three hours. The maximum shipping time for his items is 20 hours. He states that even people in the United States can receive these items. They are not going to have the amazing shipping time that Chinese citizens are able to obtain but they can receive the outstanding products. Liu Quiangdong hopes in the future he can expand the operation to include better shipping times for international customers.