Technology has played quite a role in business over the past few years, with the impact being across almost every industry. Richard Liu Qiangdong knows this all too well. Qiangdong is perhaps best known for being the founder of JD.com, which has become the biggest online retailer in China. Speaking at the World Economic Forum in Davos, however, Richard Liu noted that this wasn’t something he had initially set out to do. Instead, he had started the company as a store named Jingdong and sold quite a limited amount of products. Despite this, the business soon became known for its customer service, which Qiangdong was quite proud of.
As a result of this popularity, Jingdong began to grow and soon established over a dozen stores in and around Beijing. A SARS outbreak across China started to threaten this growth, however. Because of this, Richard Liu Qiangdong had to look for ways to offset the company’s decreased amount of footfall. Qiangdong had a few tricks up his sleeve that he began to look towards. One of the more notable of these was technology. With an education in Computer Science, Richard Liu soon began developing a website to sell his products on. Soon, Jingdong was selling products both in-person and online. This soon led to a startling realization for Richard Liu; his online sales were easily surpassing the ones from his physical stores.
Because of this, Richard Liu Qiangdong pivoted the company to e-commerce and began closing each of Jingdong’s physical stores. With the website’s increasing popularity, the company soon began attracting attention from a variety of different product developers. This subsequently helped to create a number of partnerships between Jingdong and a variety of different companies. It also led to the business being rebranded as JD.com. However, the impact of technology on the company didn’t stop there. Instead, Richard Liu Qiangdong has been adding quite a significant amount of features to the business. This was not only about the website itself, but also its logistics division. Through this, JD.com has been able to drastically expand it’s delivery and product management systems to help satisfy the ever-changing needs of customers.
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