Liu Qiangdong: The Foundation Of Jingdong

In 2004, in the memory of more people, it might be more closely linked with the flying Liu Xiang's birth. No one would notice that a group of fellows in Zhongguancun who had flocked to optical and magnetic recording suddenly decided to move their counters to the Internet.

At that time, we were already the largest optical and magnetic distributors in China, and we still saw good growth in the layout of physical stores.

But at that time, the traditional retailing system of agents at the time was very difficult for retailers to reduce the cost of upstream, reduce the cost and improve efficiency.

And ultimately for this low - efficiency, high - cost retail channel, it is the consumer.

Today, we dare not say that Jingdong came into being to solve the problem of consumer pain. But the rise of online channels did show us a great space to get rid of traditional ties and create more value for consumers.

This is also why Jingdong, which has fully pformed the electricity supplier in 2004, has become the most practical year for me to sleep, because we can finally really face the consumer, the road is going up to the sky, and the ambition is being fulfilled.

Many years later, our first investor and founder of today's capital, Ms. Xu Xin, conducted a survey of 3000 people. The conclusion is that the rise of Jingdong is in line with the trend of the times and meets the huge demand of the middle class growing up online to the quality of online shopping.

But at that time, we didn't actually do it.

The data analysis is based on the comparison between our online and offline businesses. We find that through online channels, we can save a lot of shopping costs for consumers, which will make us more competitive.

Therefore, the origin of Jingdong is actually very simple. It is only by means of the Internet, guided by the new consumption demand, and constantly making breakthroughs in business mode innovation, so as to reconstruct the supply chain system, achieve the goal of reducing costs and improving efficiency, and ultimately create value for consumers.

It still follows the essential law of the retail industry.

The development and growth of Jingdong has never left this essence, and the future must also focus on this essence.

In 2007, despite the opposition of investors and top management team, I insisted on opening the whole category strategy.

The reason is simple. Because customers want to buy more goods besides 3C, Jingdong can meet their needs and leave them behind.

In the same year, I went all the way to build a warehouse with one's own.

It was also because at that time a large number of our customers complained about slow arrival and damaged goods. After analysis, we found that the use of social logistics at that time could not completely solve these pain points.

I think only by self built logistics can we fundamentally solve this problem.

This time, we haven't done any professional and systematic cost estimation. We started from scratch. We didn't even know how to figure it out at first.

There is only one starting point for deciding what to do: we need to provide better and better customer experience.

Customer experience is getting better and better, attracting more and more new users, but Jingdong covers self marketing modes such as acquisition, warehousing, distribution, customer service and so on.

This led us to be widely questioned in the industry for a long time.

But what the skeptics did not see or deliberately ignored was behind the heavy Jingdong mode, which was a significant reduction in the cost of industry and a significant increase in efficiency.

I think it is not the most important thing whether the mode is light or heavy, and what is most important is what value we have created.

What is interesting is that when Jingdong's efficient and low-cost operation chain has been rapidly extended and inevitably collided with the traditional retail system, more criticism has begun to point. Jingdong has destroyed the original price system, affected many people's jobs, and defined Jingdong as an unwelcome "spoiler".

Here, I do not want to say that efficient and advanced instead of inefficient backward is an inevitable rule, and only want to return to the essence of retail to reaffirm that consumer satisfaction is the value of our existence.

To tell you the truth, I never really care about friends in my heart.

The only thing I care about is the satisfaction of the consumer.

Fortunately, with the gradual deepening of Jingdong market development, more and more upstream manufacturers begin to realize that electricity providers provide value by reducing costs and improving efficiency, providing them with efficient, fast and low-cost sales platform, and accurate marketing platform based on mass consumption data analysis.

Trust is the foundation of cooperation, and many vendors gradually regard Jingdong as the main channel of their business.

What is more worth mentioning is that Jingdong's recent exploration in the field of intelligent manufacturing has greatly enriched the cooperation dimension between the electricity supplier and the manufacturer. Relying on the Jingdong big data platform, it can reverse the traditional production mode. With the help of Jingdong's equity platform, the innovative products can contact the market earlier and more effectively and get feedback. Many manufacturing enterprises are finding new opportunities for pformation and upgrading.

With the growing platform of Jingdong, our supply chain system will become more and more open.

This book has interviewed nearly 260 Jingdong people working in different positions. For us, we may have the effect of opening our hearts to people, thereby eliminating some doubts and letting more potential partners know more about Jingdong and approaching Jingdong.

Facing the future, Jingdong, as a successful practitioner of Internet +, is willing to provide our value in the process of pformation and upgrading of traditional industries.