Anyone who shops online in China would know about JD, which is one of the biggest e-commerce sites in China, just after Alibaba. The company has grown massively in the last few years under the leadership of its founder, Richard Liu Qiangdong, who continues to be the executive chairman of company. The success he achieved in the retail sector is due to his futuristic vision and business acumen that he used to ensure that JD continues to remain a notch above the competition. The modern business strategies that he implemented made a lot of difference in getting the positive results for the company and helping gain more customers.
Richard Liu Qiangdong has done MBA from the China Europe International Business School and Bachelor’s in Sociology from the Renmin University. Even though he is a highly learned man, he didn’t actually settle for a salaried job after the completion of his studies and started a restaurant right after completion of his masters. However, he didn’t get the kind of success he was waiting for with the restaurant business and moved on to the retail business and started retail shops. In just a couple of years, it grew into a chain of over a dozen stores. The retail business faced a major financial crisis after a period of success when the country was struggling with the SARS outbreak. It led to switching from offline to online business, and it is how JD was born. Richard Liu Qiangdong knows that to achieve success in retail sector, one has to keep implementing innovative marketing techniques.
Richard Liu Qiangdong has one simple rule about being successful, and that is to offer more than what your competitors are offering. He feels that e-commerce industry is competitive and the only way to sail ahead is by offering things that others are not offering. He is proud that his company tries to provide the latest products and that too before anyone else. He holds meetings with the top brands that offer their products on his platform. It has led to good relationship with these top brands and has helped his company to grow.
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