China's leading SaaS provider, Youzan Limited, also known as "Youzan（Chinese：中国有赞）," has released its performance report for the period ending June 30, 2023.
Established in November 2012 in Hangzhou's Beta Cafe, Youzan is a company that serves retail merchants by helping them set up online stores, market their products, manage customers, and process orders.
According to the report, Youzan achieved a Gross Merchandise Volume (GMV) of CNY 48.7 billion（USD 7.53 billion）in the first half of 2023, representing a year-on-year growth of approximately 2%. Youzan's store business, represented by Youzan New Retail, continues to experience steady growth. In the first half of 2023, the GMV from store SaaS products reached approximately 23.4 billion yuan, accounting for 48% of the overall GMV and growing by approximately 21% compared to the previous year.
Youzan currently has 5 business segments, including Youzan WeiMall, Youzan Retail, Youzan Beauty, Youzan Education and Youzan AllValue. Through its social e-commerce, store management and the relating new retail SaaS products, solutions and services, Youzan comprehensively helps merchants to solve the problems encountered in the mobile Internet era, such as customer acquisition,transaction conversion, customer retention, repurchase, sharing fission, etc.
Faced with the customization service needs of merchants and developers, Youzan also launched the PaaS platform "Youzan Cloud" to fully support merchants and developers to customize various personalized solutions.
According to the "SAAS Industry Trend Insight" report, the global cloud computing market is undergoing rapid and systematic transformation driven by the continuous digitalization process and the impact of the pandemic. In the post-pandemic era of gradual recovery in 2021, the world has witnessed a new wave of digital transformation, with the cloud computing market reaching a scale of 544.9 billion US dollars, with a growth rate of 24.6%. By the end of 2022, the global cloud computing market is expected to reach 669.2 billion US dollars, and it is projected to exceed the milestone of 800 billion US dollars by 2023. Currently, the global cloud computing market is still dominated by public clouds, accounting for about 70% of the market share, while private clouds and hybrid clouds occupy a smaller market share.
Youzan has already entered multiple overseas markets, including Southeast Asia, South Asia, the Middle East, and Africa. Through localized operations and partner networks, it provides e-commerce platforms and cloud services to local merchants. Youzan offers e-commerce platforms in overseas markets to help merchants establish and operate online stores. These platforms provide a wide range of functionalities, including product management, order processing, payment integration, and marketing promotion, enabling merchants to achieve online sales and business growth. In addition to e-commerce platforms, Youzan also provides cloud services, including cloud computing, data analysis, and artificial intelligence. These services help merchants improve operational efficiency, optimize user experience, and conduct market analysis. Youzan focuses on localized operations in overseas markets, collaborating with local partners to understand local market needs and regulations. It offers multi-language support, local payment integration, and cooperation with local logistics partners to meet the needs of local merchants.
Leading companies in the Chinese e-commerce and SAAS cloud service sectors include Tencent Cloud（Chinese：腾讯云）, Alibaba Cloud（Chinese：阿里云）, and Glondon（Chinese：广联达）. Internationally, companies such as Adobe（Chinese：奥多比）, Salesforce, and Intuit are also major players.
Overall, Youzan's performance data for the first half of the year demonstrates its strong growth in the e-commerce platform and cloud service sectors, as well as the competitiveness of its store SaaS products in the market. With the continuous development of the Chinese e-commerce and cloud service markets, Youzan is expected to maintain a positive growth momentum.