Richard Liu, the founder of JD.com recently took to the World Economic Forum’s Annual Meeting to talk about his company and the growth and potential within the e-commerce industry across the world.
The interview starts out by Richard Liu giving his account on the emergence of this multi-billion dollar company. Richard Liu had always been someone who was passionate about doing something to its fullest. He always wanted to make a name for himself and was taught the values of hard work at an early age. He attended University but soon realized that the skills being imparted here were not adequate enough to keep up with the real world. This led him towards coding, and he taught himself a number of programming languages during this time.
After University, he proceeded to work at a company that sold a number of health products across East Asian markets. Staying true to his values, he worked hard to reach one of the most prominent positions within the company. After reaching these positions, he realized that his true interest was in leading his own company. He decided to leave his corporate position and started to build his own company. He started out with one store that sold genuine products at a time where Chinese markets were filled with counterfeits and knock-offs. His shop was successful, even though it was on a small scale.
The SARS outbreak was when Liu experienced a true shift in perspective. Being homebound during this time seriously impacted his business, and caused sales to drop. However, he realized that if people had a way to shop from home, an occurrence like this would not plummet sales. This led him to shift his entire business from a brick and mortar store to an e-commerce retailer. Within no time, the site took off and started to see a much wider range of customers than it ever saw before.
Ever since JD.com first came up, it has risen to become one of the more prominent names within the e-commerce industry. The vision and determination of Richard Liu to succeed was something that truly impacted the overall growth that the company saw, truly making JD.com an e-commerce giant.
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