Article Title: Richard Liu Qiangdong On Why Studying The Consumer Spending Pattern Is Important For E-Commerce Companies

Article Text:

Richard Liu Qiangdong is a passionate businessman, and it is his passion for business and success that helped him become what he is today. Even after facing many challenges in his entrepreneurial journey, Richard Liu never gave up and ensured that he continues to move forward, even if slowly. Richard Liu studied business administration and sociology and started working at multi-national health and wellness firm named Japan Life as their computer programmer. Thanks to his hard work and determination, he went on to become the director of computers at Japan Life.

Richard Liu Qiangdong worked for several years at Japan Life before heading to start shop at China’s Technology Hub in Beijing. It was a store that sold magneto-optical products, and with time, he expanded the store’s inventory to sell electronic products as well. The success he saw helped him expand his store line to over a dozen stores across the country. It helped him become a known name in the retail sector. However, his business witnessed a massive failure when China suffered from the SARS outbreak. It is during this time he decided to switch to online retail operations that helped him grow as a businessman and his business flourish. The online retail operations became a huge success, and it continues to grow to date and has over 300 million active users who are growing every day.

As the founder and CEO of JD, Richard Liu has helped tremendously with the company’s progress and implemented highly progressive business strategies that continue to propel the success of the company. Richard Liu Qiangdong feels that the needs of the consumers have undergone a drastic change in the past years. There was a time when people only bought things that they need, but today people are ready to purchase unique things that they want because they have more disposable income at hand. They are also willing to pay more for things that will be unique and not something that everyone can purchase. It is the reason why Richard Liu Qiangdong offers fashionable products to his consumers that they can indulge in.

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