After his first company effort was not successful, Richard Liu decided in1998 when he created the Jingdong to undertake his next business venture. He was involved in supplying optical items at a tiny booth. Liu set pricing fixed since most of his items were verified and trustworthy, unlike the booths around him, which offered the phony product low costs. During its early operational years, the company’s business commitment strategy facilitated quick expansion. With more than 12 locations in major cities, the firm has developed into a comprehensive retail shop with a total profit of over $9 million during five years.
In 2003, JD was wholly formed, with the SARS outbreak affecting the economy of the country. Instead, Liu took it as a chance to expand his firm from a fresh viewpoint and began to publish his items on the internet. Liu observed that the e-commerce company became more popular, even when it was time to reopen shops. Therefore, a single person was -assigned to sell the items online. After starting the internet industry formally in January 2004, he abolished the shops and concentrated on online operations after running both for store and online operations.
If not for the devotion of Richard Liu to lead the firm to its success, it would not be where it is. He alone developed the coding for his internet site. He decided to stay at the workplace one night instead of paying rent for an extra month. During his stay at the company, he built the website, as he generally asked customers and provided all purchased products in time. The travel gives him more experience and knowledge about various elements of the market. During the marketing period, he may access the data and location of his clients.