WPP, the advertising group, is investing in an ecommerce service company in China as many of its clients migrate to the country’s online retail sector.
The WPP deal with a new China group called Polestar highlights the big market in third-party services for the ecommerce industry, which range from large yet relatively unknown companies such Baozun and Lili & Beauty, to much smaller operations. Most ecommerce vendors in China lose money, but providing services to them is a flourishing business.
The listing of Alibaba last week on the New York Stock Exchange has also focused attention on the very large number of consumers on the Chinese internet, which is projected to be worth close to $540bn in transactions this year.
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