JD.com, also called the JingDong Mall, is the largest retailer in China – offline or online. The Chinese retail company was founded by Richard Liu Qiangdong in the late 1990s, and it shifted to an online environment in 2004 after the SARS outbreak posed a serious threat to physical stores. Since then, the founder of the Chinese retail company keeps on expanding his network, adding new items to the list of merchandise that their online portal sells and establishing business partnerships with some of the top largest companies on the planet. The founder of the Chinese retail company also serves as their chief executive officer, deciding on important matters that would affect the company, like the dropping of the JingDong brand to a shorter version for better customer recall. In a recent report, JD.com released a comprehensive summary of the company’s performance during the first quarter of the year 2019. From January to March, the Chinese retail company earned 121.1 billion Chinese yuan. It is 20.9% higher than what was earned by the company a year ago. The rising profit of the company also resulted in a stronger stock market value, which is now at 4.96 per share. The performance of the company is attributed to their dedication to selling the items that the customers are looking for.
The Chinese retail company is also listening to the requests of their customers. One instance would be the proliferation of organic products – it happened right after the public complained that there are no organic food options available at their website. The Chinese retail company listened to the requests of the public, and they tapped the assistance from the farmers who work in China’s rural areas to raise organic chickens and harvest organic fruits and vegetables. The Chinese retail company is also known for its partnership with the largest companies on the planet, including Google, Walmart, and Tencent. The Chinese retail company signed a partnership with these tech and retail firms because they wanted to expand their influence, and they also need more funds in conducting a research about AIs and how it can be used for the business. Tencent, one of the largest tech companies in the world, was approached by the Chinese retail company, headed by Richard Liu Qiangdong, and they expressed their interest of reaching the 1.1 billion monthly users that Tencent’s Wechat and Weixin has. This partnership has been going on for years, and it was recently renewed.
The deal would cost the Chinese retail company of $800 million, but all of it is worth t especially if you will be exclusively bringing your top quality products to a market that represents 1/6 of the total human population. The sheer number of people using Wechat and Weixin made it possible for the Chinese retail company to grow further. According to the chief executive officer of the company, they will continue to provide faster services to the public. The strong financial performance is proof that more people are buying from the Chinese retail company, and it made the chief executive officer happy knowing that the Chinese people trust them more than anyone else. With the company’s dedication in applying AI to their robots, it is now possible to receive a JD.com delivery from the air with the use of drones. Richard Liu Qiangdong announced that the drones will be able to reach even the most remote villages in China. The Chinese retail company is also able to reach 90% of the territory, and there are 300 million active users who are engaging in different transactions within the online portal. This sheer number of monthly users contributed to a profit of around $16.2 billion, which in itself is a remarkable feat. Click here.