Chris Holden

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An Idea Born on time with Richard Liu Qiangdong

by Chris Holden - October 11th, 2019.
Filed under: Business Mentor, COMPANY, Uncategorized. Tagged as: .

As a student, Richard Liu juggled studies and business. As expected, the results were not favorable. He had to close down his business. One of the lessons he picked was any business needs time as an investment.

During the World Economic Forum Annual Meeting, Richard Liu opened up on his journey. How has taken the lead and the future he holds. Remarkably to note is that he stumbled into e-commerce during a tragic time.

After university, Richard Liu Qiangdong started his career. He worked for a health company, Japan Life. He had excellent computer skills, and during his short stint, he served in different roles. His next move was the entrepreneurship journey.

In 1998, Richard Liu opened a retail shop in Beijing. The retail store sold magneto-optical products and computer accessories. For the next several years, the shop was doing well, and they had managed to open a total of twelve retail shops.

But again, in 2004, SARS broke out in China. The outcome was closing down the shops. There was minimal interaction between sellers and customers. It was during this moment that the idea of selling online was born. Richard Liu started in e-commerce.

It was a dark road, and he started with I.T products, phones, and digital accessories. One year down the line, the numbers showed e-commerce retail was doing well. Richard Liu Qiangdong then decided to lay the base of operation. He states that with the customers being not receptive, he ensured that the products sold were not counterfeit, the pricing was reasonable, and the customer care was amicable.

By the year 2010, had stock of all the products. They have invested in their logistic and currently have 500 logistic centers in China. It is impressive to note in China; a product can be delivered six hours after placing an order.

In the next ten years, Richard Liu envisions to be the number one of the retail store in the world. Currently, they are working to ensure that the global delivery system is efficient. His focus is on eCommerce, the internet, and logistic to be a leader in the industry.

Learn more about Richard :

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