Richard Liu Qiangdong and the rest of the company at JD.com show many young entrepreneurs how to acquire resources and how to build a company. We have evidenced the JD.com trajectory and their growth ever since their launch in 1998 when they went online. Let us take a look at the different movements of the company over time.
JD.com and &7Fresh in 2018
Richard Liu Qiangdong and JD.com do not look like they will stop innovating. The company is doubling down on making advances in the offline world, specifically that of groceries. Online retail is growing in China but it is only growing at a slow speed, this makes sense, adoption is slow and the economy needs to grow. According to a recent report, the online consumption of Chinese citizens is only about 20% of their consumption volume.
JD.com and leaders such as Richard Liu Qiangdong will seek to make the offline world go online to obtain more revenues and to gain a bigger portion of the pie.
Jd.com has to fight with Alibaba to become a leader in the digital space. Alibaba has already rolled out cashier fewer checkouts and other cool and innovative features. The Alibaba brand, Hema, is now present within over 70 locations in China. Most of these stores are owned by the company while a few are franchises.
JD.com and Richard Liu Qiangdong had to make a move. What did they do?
They made deals with local supermarket groups and with a major partner, Walmart to open up their digital grocery store. They called it 7Fresh, hopefully not to borrow a variant of the 7-Eleven chain.
The store went live in the first half of 2019 and has about four locations in total. They will very likely pick up the pace as Richard Liu Qiangdong is seeking to increase the number of stores by at least 20.
JD.com expects individuals to order online and pick up in the store. 7Fresh stores provide customers with a great experience. The experience is higher end and quality according to those who have been there.
Individuals are able to see more information on their products, such as their groceries when they scan a barcode. It really is an innovative store.
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