Richard Liu, popularly known as Liu Qiangdong, is the founding father, CEO, and chairman of the JD Digits company. The company, which is strictly based online, was founded in 2004 after the SARS epidemic hit his former business of selling computer parts.
This August marks a new season for Beijing customers to enjoy a new consumption voucher via JD’s app. The app is offering approximately 2.8 million e-vouchers, which run for two weeks from 8th-18 august. The coupons will also be split into two sections 800,000 for smart devices while the two million are for offline restaurants. On the other hand, JD Digits play an essential role in ensuring that other stores are attracted to join the initiative. The technology also works on ensuring that merchants get relevant training to keep the process convenient for all participants.
More than 4,000 brands have joined the initiative since the Beijing consumption season kicked off officially in June. This has made it possible to cover over 10,000 stores within a minimal period. With the assistance of the JD’s platform, it has been possible to make several million e-vouchers in just a few days. It has also been working behind the scenes to ensure that the systems are safe and stable. Therefore, even as more brands come in, the system will still have the capacity to support them with minimal challenges, even as the database continues to grow.
The JD digits also provide financial risk level control services during the whole process. This makes it possible to monitor the e-voucher order placement and verification. Therefore, stores are guaranteed that they will make more profits in the sale too. The technology uses real name authorization techniques to monitor transactions. Thus, the system can identify whenever there is a risk in transactions. It also protects passwords, uses special verification, and other user-friendly techniques to ensure the process is secure. Therefore, this has made it possible for the brands that have already joined the system to enjoy the connection, hence motivating others to join and be part of the bigger team.
Additionally, rather than focusing on the new business that has the advantage of digital technology, Richard Liu, JD Digits, has an insight for traditional companies. Using big data, deep insights, and leveraged AI JD Digits provides smart control marketing, analysis, and operation services for traditional businesses like Wangfujing Street, which is among the oldest business district in Beijing to upgrade their operations. It, therefore, makes it possible for such businesses to have the potential to compete with the new business trends and still get better chances of making profits.
Although JD Digits technology has not been in existence for the most extended period, it has managed to serve over 30 public institutions, more than 700 financial institutions, and other customers in hundreds of millions. Therefore, the business market is still growing for technology, and more people are becoming interested in investing in the system. JD Digits believes that the future of marketing and business expansion is within technology growth. Therefore, as the market continues to expand and more brands getting on board, improving technology will facilitate more growth for various industries.
On the other hand, JD Digits CEO Richard Liu believes that in the future, the physical world digitalization will be driven by digital technology. By introducing 5G, it will be easy to accelerate the use of digital technology to more complex scenarios and dynamics. This will, therefore, facilitate the need to enhance the physical world and bring it up to speed with the digitalization. Gradually, the technology will take over, and the physical world will be fully automated into digitalization.