Weforum.org spoke with Richard Liu Qiangdong about the work that he is doing with JD.com. Richard Liu is the original founder of Jingdong Mall which is the company that burst JD.com in 2005 as an online retail company. 2005 was an important year for Jingdong Mall because it signaled a change in the way that they did things. In fact, early Jingdong Mall was totally devoted to technology and the new JD.com started dipping their toe into other aspects of the retail market. This would prove to be a very good choice for CEO Richard Liu Qiangdong as the company began to grow exponentially.
One of the reasons for the significant growth is that people were searching for a company that would offer them the security that JD.com was willing to give them. Instead of looking for customers that they could easily take advantage of with subpar goods, JD.com took the opposite route and began offering better products at reasonable prices. Weforum.org received a lot of information from Richard Liu about why this is important to him. He wanted the company to maintain a lot of integrity in the online community and possibly set new rules for this type of business practice. He knew that the only way to draw in customers was to make them feel safe in their purchases with your company.
He is hoping to bring this brand of honesty to his next venture with JD.com as a global entity. Global markets are very difficult to predict but JD.com has done well in the Chinese community. In fact, JD.com is now revered as the number one retailer for this population. While they have done well in China, it is quite a step to say that they will do well at the global table. CEO Richard Liu will be tasked with trying to find a way to help translate the standard of business that JD.com has in the Chinese economy to the Western ideals. Richard Liu Qiangdong is a very smart and savvy businessman but his success in the global market will rely on his ability to adapt as much as his ability to maintain an honest business.