Before The Listing Of Jingdong, Business Leaders Questioned Liu Qiangdong.

< p > Liu Chuanzhi (Lenovo Holdings Limited): how does Jingdong's own products sell online compared with other services of the platform? For example, if customers buy Jingdong's own products, do they take a look at the reliability of their services and brands, and whether the platform has an advantage in price?

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< p > Liu Qiangdong: the products of our platform are divided into two categories, one is standardized products, the other is non standardized products.

3C, cosmetics, milk powder, mother and baby are all standardized products. No seller of standardized products collectivize can sell us. The total turnover of tens of thousands of sellers is only about 5% of Jingdong's.

Because we are organized and planned procurement, anticipate consumer behavior ahead of time, distribute six hours to the home, the third party seller's products are delivered within two to three days, we provide door-to-door service, and small sellers can not do door-to-door service.

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< p > Jingdong self run product after-sales service, such as Lenovo notebook maintenance, consumers register in our system, after sales personnel can basically reach the consumer's home within two hours and fifteen minutes. If the gold medal member with relatively high credit is available, the sales person will bring a new Lenovo notebook to replace it on the spot. These small sellers can not provide the service, so 95% of the market is occupied by Jingdong.

We are not competing with other sellers for non standardized products.

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< p > we did our own garment in the first two years, and we lost everything and consumers were dissatisfied.

Because clothing color, size, season and so on are massive, brand countless, we found that the 70% product has a problem of unsalable, although the gross profit margin is very high, but once cleared, it lost all the money earned.

Jingdong, which is not standardized, can not do so, and sellers must be introduced.

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< p > now Jingdong has 60 thousand sellers. It will soon be over 100 thousand, each seller manages thousands of SKU, and the 60 thousand seller is tens of millions of scale.

Jingdong's proprietary mode can not manage such a large scale of clothing, so non standardized products are better sellers than non sellers.

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< p > Liu Chuanzhi: a very important characteristic of Jingdong's business mode is that you have your own logistics system. How much does the cost ratio of labor and equipment occupy in the cost of logistics itself? < /p >

< p > < strong > Liu Qiangdong: labor cost accounts for 70%.

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< p > Liu Chuanzhi: the cost of labor is high. That is why many employees of logistics enterprises have been squeezed fiercely, and their reputation is not good enough.

Do you have a large logistics team and the increase of employees' benefits will have a great impact on the cost of the entire logistics business? < /p >

< p > Liu Qiangdong: Liu Zong's question is very good.

In fact, this problem is also solved through information system.

Jingdong has a large number of labor force, but it is by no means a pressing labor to enhance the vitality of the company.

The monthly salary of our courier in Beijing is 5600 yuan, and the company also buys commercial insurance and 200 thousand personal accident insurance for each courier.

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< p > you may find that the delivery of the couriers in the society is that customers sign out the door and sign in the hallway, and the Jingdong's courier is invited to sign in the house, which fully reflects the user's trust in us.

If their income is low, they will not be happy, they may steal, deceive or deceive.

We also raised the salary for the courier this year. We hope our courier income is 30% higher than that of the market.

At the same time, we also provide accommodation, such as shoes, caps, gloves and other work clothes.

After five years of distribution in the Jingdong, 99% of them bought a house in the old town.

We believe that employees' unhappiness will not provide good service for their customers, but the core of their happiness is high salary.

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< p > Liu Chuanzhi: a very important reason why you are not stressed is that 45% of profits come from financial business. Jingdong has a good reputation. Jingdong has a good brand that will generate greater profits for financial services itself.

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< p > Liu Qiangdong: in our financial statements, we have disclosed the relevant figures of logistics. Courier costs 8 yuan each, warehousing 4 yuan, and customer service for 1 yuan, which is very low cost.

How do we do this? Jingdong's express delivery mode is different from other express companies. The "four links and one access" is grid like. Each courier is delivering and receiving goods. The distribution personnel have time to wait. He never knows who will call in next minute and never know how many parcels the customer will send next minute.

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< p > and the Jingdong's couriers only deliver goods without receiving orders.

How many parcels do we need to send in second days per night, what communities will be passed, and what communities will be included, including the delivery route through the information system. The couriers in Beijing can send three hundred parcels a day, and the number of deliveries is much greater than that of other express companies.

This is why the courier is very well paid, but at the same time, the logistics cost is very low.

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< p > < strong > in the < a href= "http://www.91se91.com/news/index_c.asp" > retail < /a >, the real money is to rely on technology < /strong > /p >

< p > Robin Li (Baidu chairman and CEO): the main business of Jingdong is retail, and we have just talked about the financial products such as IOUS and loans. I would like to ask how much profit can the financial services account for in the next five years or longer? < /p >

< p > Liu Qiangdong: 45% of WAL-MART's net profit in the world comes from the reinvestment of cash flow, and the net profit of every real store is 55%.

Jingdong is expected to be bolder, and 70% of net profit in ten years will come from financial business.

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< p > Robin Li: Jingdong is retail companies, and at the same time it is half a financial company.

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< p > Liu Qiangdong: retail is our way to get users and data.

Retail gives consumers a good consumption experience, and consumers will buy my stuff every day, so that I can get users and get data.

But to earn real money in retail depends on technology, which is why Jingdong will never squeeze suppliers.

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< p > Robin Li: recently saw a patent in technology, it can predict what goods the customer decides, and the goods have been issued before the customer orders.

Will these barriers become a barrier to the development of Jingdong? < /p >

< p > Liu Qiangdong: Chinese enterprises are being told when they go out. This problem does exist.

But from its own development, Jingdong has gone earlier than Amazon. Our product sales order forecast is earlier than that. Last year, 67% of Jingdong's orders were sent to consumers within six hours. Amazon is not available in the US.

We can, because we sent the goods to the nearest warehouse in advance by analyzing the data.

Amazon has no distribution system in the US, and Jingdong has a distribution system in China.

After they had predicted, they sent the goods to Fedex, UPS temporary inspection center for temporary storage, then sent them to the consumer's home, and we shipped the goods to our warehouse, the mode was totally different.

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< p > < strong > recruitment < a href= "http://www.91se91.com/news/index_c.asp > > talent < /a >, I have two standards < /strong > /p >

< p > only let the chairman of China Steel Research Group Corporation: in Beijing, where nearly 10000 people gather, human resources, including recruitment, training, motivation and assessment, are very troublesome. Your business is distributed throughout the country. What is the secret of recruitment, cadre control, assessment, motivation and human resources system construction? < /p >

< p > Liu Qiangdong: people are the most difficult to manage. Jingdong recruited ten thousand people last year, and fifteen thousand people are expected to be recruited this year.

Our idea of recruiting people can be shared with you. We call the ability value model internally.

Our recruitment requirements are very strict. Our executives have to interview more than ten people on average to choose one, and less than 10% of those who meet Jingdong requirements.

When we recruit, we mainly consider two factors, one is capability, and the other is business capability, such as how much sales people sell and how much profit they have made.

Second is the concept of value. How does he know himself, how he knows others and how he treats the world? What is his attitude towards life?

We have a measurement system in the interview process, which is designed by many professors and experts, and we need to adjust and pform every year.

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< p > when we interview, we have to test, neither ability nor value. We call it "scrap iron", so that people can not really want to, they can not achieve results, and values do not match us.

There are no good or bad values. We only look at the match between the five core values of Jingdong.

The second category is a good match of values, but the ability is not too good. We call it "iron".

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< p > in fact, this kind of people usually find out at work. They may not find out during the interview. We will give him a chance to pfer and a training. If not, he will be dismissed.

Jingdong 80% of employees belong to third categories, scoring 60 to 80 points, which we call "steel", which is our foundation.

There are also 20% high scores on ability and values called gold, which is the core of the company.

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< p > there are still some people who are strong in ability, that is, they do not match their values. For example, some salesmen do very well, and their growth rate is much faster than the growth rate of the company.

Rust workers must be resolutely eliminated, because rust is corrosive, and their destruction will bring greater damage.

Hitler is rust.

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< p > why should we keep the ratio of 28? After a lot of companies went public, many employees left their jobs. On the one hand, the employees were rich. On the other hand, many people had a dream and had a strong desire to grow up with the company before the listing. However, if they grew up to a certain degree, their psychology would be unbalanced, and some of them would be lost.

Whether gold can reach 20% is the key to decide whether a team is stable or not.

Our executives carry out a value assessment every half a year, and ordinary employees check once a year. Through the annual refreshment, elimination, and finally stay behind, they are highly matched with the company.

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< p > < strong > strategy "dictatorship" is the largest enterprise a href= < http://www.91se91.com/news/index_c.asp > risk < /a > /strong > /p >.

< p > Lei Jun (Chairman of Xiaomi Technology Co., Ltd.): what is the biggest difficulty and risk that Jingdong faces now when it develops to such a large scale? The second problem is that I am an optimistic person in Jingdong mode. After the last time Jingdong was ready to publish its earnings report, I was debated with other enterprises about the high efficiency of the electric business enterprise.

Jingdong spent 10% of the total turnover cost. They said you went to see Gome and Suning's earnings reports, and they were more efficient than Jingdong.

They feel that the efficiency of e-commerce is more efficient in traditional circulation channels.

I have not checked the two data, but do I think there is room for further improvement in the efficiency of Jingdong? < /p >

< p > Liu Qiangdong: let me answer second questions first.

As far as I know, the combined cost of Gome and Suning is 15%, and WAL-MART and Carrefour are more than 20%.

The domestic pure business super fee rate is 20%, the Jingdong is mixed, we mix the electronic products and business super parts, so the cost rate is 10%. If we separate the 3C products separately, the cost rate is far below 10%.

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< p > let's talk about the first problem. The biggest risk of a company is large scale. I think it is from the founder.

Jingdong is strategically dictatorial. Whether our strategy can arrive in time, or strategic mistakes can lead to failure, I think this is the biggest risk.

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