JD.com is the largest retailer in China with millions of products under its portfolio. It is headed by Richard Liu, the founder and CEO. Since he formed this company in 2004, he has consistently invested billions into customer services and technology. He recognizes these are two factors that influence customer experience in any marketplace.
Liu joined e-commerce business after realizing that it was easier and profitable to run such business as compared to stores. Since 2004, he has never looked backward; he seeks to make this company the largest retailer in the world.
JD.com’s Commitment in Tech Adoption
One of the strengths of JD is technology. JD.com is utilizing cutting edge technology in all its operations. As a result, they have enjoyed a great reception from customers who find it easier to shop with them. They have not only created a simple to use online purchase platform but have also established a technology-driven delivery service.
Today, it only takes between 6 and 20 hours to receive purchased item to any location in China. Plans are underway to see international deliveries work in lesser days than the current 10-15 days. Mr. Liu believes that it is through the application of advanced technologies that businesses will manage to stay on top of competitors.
Logistics Technology: Beyond Delivery Drones
Since 2015, JD.com has been running a commercial drones deliveries service aimed at shipping items to remote parts of China. Some of the provinces covered by drone services include Shaanxi, Jiangsu, and others. Since its inception, the drone delivery service has recorded over 400,000 minutes of flight time.
At the beginning of 2019, JD partnered with the government of Indonesia to perform a drone test flight in the country. Mr. Liu is now looking into the possibility of expanding their delivery services in Southeast Asia in the near future.
The application of advanced technologies in logistics does not stop at the use of drones, autonomous robots are now being used to deliver products in major cities in China, university campuses and offices. The company has also come up with an extensive logistics plan that has seen them launch smart delivery stations across the country.
The company is investing in logistics innovations lab so that it can make logistics reliable, accessible and cost-effective. They are still devising ways through which autonomous technology can help not only in e-commerce but also in humanitarian support. JD sees this technological revolution as one that will bring significant benefits even to people not in business.
About Richard Liu
Richard Liu is quite an intelligent business man. He has managed to transform this business from a small entity to a multi-billion dollar business that is supporting the lives of millions of people in China and beyond. Before turning to e-commerce, had 12 stores in Beijing dealing with digital products. His turning point came in 2003 when the SARS outbreak hit China. Workers and customers were forced to remain housebound, meaning that there was no business for business people running physical stores.
Richard Liu is now planning on expanding JingDong. He is aiming at Southeast Asia, Europe, and America in that order. He believes that JD is in a better position to become the best retailer in the world because of the dedication and investments they have placed into research and innovations.
JingDong is publicly traded in America, where it is listed under NASDAQ 100. On the day that it went public, its share value went up by 15 percent. It is also a Fortune 500 Global. Its estimated value is $60 billion according to a revelation by the CEO at a recent interview at the World Economic Forum Meeting.