Richard Liu’s Online Success

 

Background

Richard Liu Qiangdong was born on 10th March 1973. Liu Qiangdong is a well-known Chinese internet entrepreneur. He is the mind behind JD.Com., popularly known as Jingdong mall which is one of the leading online companies in China. His parents are in the shipping business which can explain Richard’s interest.

 

Education

Liu Qiangdong studied sociology in the People’s University of China which was well recognized for having the best political connections of the Chinese elites. He graduated with his degree in 1996, and he later got his masters from the China Europe International Business School. He did this because his interest in politics as a young man was evident and growing apart from getting his degree, Liu also took his free time and invested in learning about computer programming.

 

Challenges

Richard has faced challenges as an online entrepreneur like all other businesses. The trends are changing with people’s preferences slowly shifting from one brand which previously covered a large percentage of consumers, to a more personal taste and unique brands. This has brought about the need to diversify into numerous brands causing challenges to the business.

 

Product line partnerships

JD.com seeks to be a unique one by not providing sales alone. The brand’s channel and official websites are sometimes incorporated into the system to cover everything across the board. However, it is not only JD that practices this but other platforms and distributor channels as well.

 

An upgrade in the system is well needed in order to cover the marketing aspects for various channels. Simply put, it is a three in one; an inventory, one brand one price. This ensures that both online and offline prices are similar because both the inventory and the brand are the same. All three were different save for the brand. That is, the online, offline stores and e-commerce stores kept different inventories. Get Additional Information Here.

 

The system is therefore aimed at simply strengthening the already existing supply chain. For instance, previously, one could order a product online in a different city and had to wait for it to be shipped. This could take a while. The same product could be found in the same town, but offline. So today shipping from the same city is possible.

 

More about Richard Liu Qiangdong on https://www.crunchbase.com/person/qiangdong-liu

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