Jingdong opened new showrooms filled with new innovative items at Beijing Capital International Airport as well as Hohhot Railway station located in Inner Mongolia. The investment is working on extending China’s biggest retailer’s “Boundaryless Retail Strategy” that enables customers to get access to whatever they want at any time of the day.
The stores contain JD.com’s new retail technology to facilitate and make it fun for the travelers to make purchases under one roof. Jingdong is working closely with numerous enterprises, like supermarkets, partnering with major hotels, and joining hands with both airports and railway stations.
The new venture exists at the departure lounge of Terminal 3 at BCIA and is operating successfully for the past over three months. The new store has at the customer’s exposure essential travel items, such as clothing, mobile accessories, dairy requirements, beauty products, and bags and suitcases. At JD.com, we determine the customers need by the use of JD’s smart store technology that shows how the customers interact with our items and on which products to make much investment.
Also, we have JD Zu Chongzhi application to manage the flow of the customers inside the store to minimize confusion and make the operation smooth. We use heat maps to assist the customers on products selection and inventory monitoring to ensure customers’ satisfaction. Click Here for more information.
Beijing Capital International Airport management and family are grateful to be the primary hosts of JD’s newly opened store. The travelers will have the privilege to experience the feeling of the future shopping within the beauty of BCIA. At the Hohhot East Railway Station, JD.com and China Railway Express are working hand in hand to bring up a 100-square-meter unoccupied convenience store. Also, CRE brings another innovation where the customers can make their payment through facial recognition and smart vending machine. The vending machine can process the payment of products upon selection and closing the door of the device.
JD.com is working on a new operating system referred as Mini Program WeChat where customers can make purchases online and have the products delivered at their convenient places. This feature will encourage the customers to make more purchases due to efficiency.
More about JD.com on https://www.digitalcommerce360.com/2018/08/29/jd-turns-to-google-walmart-to-build-global-e-commerce-empire/
Richard Liu Qiangdong is the CEO, founder, and creator of JD.com: an online retail store with not millions, but billions of products available for purchase online. 57% of all items ordered get delivered within 6 hours in China, and 97% within 20 hours.
JD.com is one of the top ten market cap companies in the world behind Amazon, Baidu, Alphabet, and a few others, but has a market cap of over 30 billion dollars currently with their stock trading at $22. Life was not always this good for Richard Liu, as he noted in his Davos, Switzerland interview. “My family worked in rural China by the canal, and my grandmother was sick, so I needed money to buy her medicine. I went to college in Beijing and tried to open up a restaurant. It failed miserably … belly-up. Go Here for additional information.
But I learned a valuable lesson about business, which is that you must devote a lot of your time into something in order for it to succeed.” Now Richard Liu has a personal net worth of around ten billion dollars, after his online electronics store started taking off well and Richard Liu was able to add new product categories year after year consecutively. “Our main competitor right now would be Walmart … Our focus right now is on price and efficiency. Our prices are similar to Costco in the U.S., and we care constantly working on efficiency in order to provide better quality service to our customers.”
With billions of goods for sale compared to Walmart’s mere millions, Liu and his team are actively seeking to expand into different parts of the world like Southeast Asia, and eventually Europe and America. “America is a very hard market to break into, and I hope that it becomes easier so that we can all sell together.”
See also: http://www.ftvcapital.com/team-member/richard-liu/
Richard Liu Qiangdong is one of the online investors who has been renowned for his efforts to improve the services that he offers to his customers through the incorporation of innovative strategies in his work. He is the owner and the founder of the JingDong, currently known as JD.Com is the largest online retail store in China.
Richard Liu Qiangdong established this organization in the year 1998, which was immediately after finishing his undergraduate education. He had graduated with a bachelor’s degree in sociology, but like any other young individual in the country, it was quite difficult for him to snatch employment and so he decided to engage in business.
An interview called “An Insight, An Idea” with webforum.org sat down with Richard Liu to discuss his career and how he has transformed the retail industry.
A restaurant was the first enterprise that Richard Liu Qiangdong established in 1996. This never went as he had planned and he was forced to shut it down due to its poor performance. He later got employed I one of the political firms in the city of Beijing, but he felt that there were some dreams in his life that he could never actualize if he remained employed. He quit the job and began the JingDong Company. This name was derived from that of Richard Liu Qiangdong and his girlfriend. This firm performed very well, and he even decided that he would establish some branch store in various parts of China.
However, the glory of this enterprise started diminishing in 2003 when there was an outbreak of SARS. At that moment, the Chinese government ordered that there would be no movement in and out of town until the epidemic was over. This affected Richard Liu Qiangdong’s business negatively, and his revenue reduced drastically. This challenged him to design some way in which he would protect himself and his company from such losses in case such curfews are ordered again by the government. See Related Link for additional information.
The solution that came to Richard Liu Qiangdong’s head was the transformation of the business so that it would become an online store. This would enable the customers to access the products and services from their homes using the internet connection. This was the best decision that Richard made for the company since JD.Com has never suffered from such occurrences again.
See also: https://finance.yahoo.com/news/richard-liu-high-flying-ceo-100429011.html?_fsig=uIMv3xJkNFuLMYw_z6Ocsg–