Core Insights - The phenomenon of mass departure of e-commerce influencers in Hangzhou has sparked significant discussion, although the live-streaming economy around "TaoTian" is experiencing a resurgence, particularly during the Double Eleven shopping festival [1] - The rise of brand self-broadcasting and AI digital influencers is becoming a new trend in live-streaming e-commerce [1] Group 1 - Hangzhou's Lijing International Building, once a symbol of the peak of the live-streaming economy, has seen rental prices nearly halved, with monthly rents dropping from over 3000 yuan in 2021 to between 1200 and 1800 yuan [3] - The building now hosts mostly ordinary office workers and small businesses, with the presence of influencers significantly diminished [3] - Some major Multi-Channel Network (MCN) agencies have also withdrawn from Hangzhou, with the exit of leading firms like Xinxuan Group causing industry turbulence [3] Group 2 - The rise of Taobao Flash Sale has injected new momentum into Hangzhou's e-commerce scene, with brand owners re-establishing TaoTian as a core collaboration focus [3] - AI technology is enhancing e-commerce by improving traffic matching efficiency, helping merchants reduce costs and increase efficiency [3] - The geographic distribution of live-streaming e-commerce is shifting from high concentration to moderate dispersion, with a focus on proximity to supply sources rather than merely chasing traffic [3]

以下文章来源于科创板日报 ，作者李佳怡 科创板日报 . 专注科创板和科技创新，上海报业集团主管主办，界面财联社出品。 近日，《科创板日报》记者来到了杭州知名的"网红大楼"——丽晶国际大厦。 《科创板日报》记者李佳怡 拍摄 丽晶国际大厦，这是一座坐落于钱塘江畔的30万平大楼，曾是杭州直播经济高光时期最直观的 符号。在其巅峰时期，楼内汇聚了近两万名主播与从业者，市场上甚至传言"一栋楼的GDP堪 比一个县"。 然而，在2025年双十一如火如荼之际，这个曾经的行业符号却显出与时节格格不入的冷清。 "2020年和我同期开播的伙伴们，现在很多已经杳无音讯了。"电商直播博主满满（化名）向 《科创板日报》记者感慨道。 今年以来，被称为"网红经济"第一城的杭州，曾经分布全城的电商网红主播出现了批量离开现 象，引发了有关杭州"网红经济"泡沫是否破裂的热议。 近日，《科创板日报》记者赶赴杭州实地调查发现， 杭州确实存在"草根网红"批量撤离的现 象。但与此同时，随着淘宝闪购崛起给杭州电商注入的活力，围绕"淘天"的直播经济在重新"升 温"，双十一杭州成为品牌方热闹的聚集地。与此同时，品牌自播与AI数字人已成为新一轮直播电 商与网红经济 ...

Core Insights - The article discusses the evolution of live-streaming e-commerce in China, highlighting key figures like Li Jiaqi and Viya, and how their rise reflects broader changes in consumer behavior and market dynamics [6][66]. Group 1: The Rise of Live-Streaming E-commerce - In 2016, traditional e-commerce faced growth challenges, leading to the emergence of live-streaming e-commerce as a new opportunity [7][15]. - Li Jiaqi and Viya were among the pioneers who recognized the potential of this new model, with Li's first live stream attracting only 79 viewers, while Viya's debut garnered 5,000 [11][12]. - The industry saw explosive growth during the 2018 Double 11 shopping festival, where Li sold 1,000 lipsticks in five minutes, showcasing the commercial power of top streamers [19][21]. Group 2: The Impact of the Pandemic - The COVID-19 pandemic accelerated the shift of live-streaming e-commerce from an optional channel to a strategic necessity for brands [27]. - During the 2020 Double 11, Li Jiaqi and Viya achieved a combined sales figure of 18.9 billion yuan, comparable to the annual revenue of a medium-sized listed company [28]. Group 3: Challenges and Crises - The rise of self-broadcasting by brands began to challenge the dominance of top streamers, leading to pricing conflicts and a crisis of trust among consumers [33][36]. - Tax compliance issues and product quality scandals, such as Viya's tax evasion case and Xinba's fake product incident, highlighted vulnerabilities in the industry [39][40]. - The industry faced a reckoning as the focus shifted from rapid growth to sustainable practices, emphasizing the importance of product quality and compliance [70][71]. Group 4: Transition to a Mature Market - The live-streaming e-commerce sector is moving from a phase of explosive growth to one of refinement and quality enhancement, with growth rates expected to decline [61][65]. - Consumers are increasingly prioritizing value and brand reputation over mere price, indicating a shift towards a more rational market [71][73]. - The article concludes that the industry is entering a phase of detailed operations, moving away from the previous "wealth creation myth" associated with top streamers [72][75].

Core Insights - The "Double Eleven" shopping festival is experiencing a significant decline in excitement and engagement from both consumers and influencers, indicating a potential shift in the commercial landscape [1][12][25] - Major influencers like Li Jiaqi and Dong Yuhui are showing signs of fatigue and reduced enthusiasm, which reflects a broader trend of declining interest in traditional promotional tactics [3][6][10][12] - Consumers are increasingly skeptical about the actual savings during the festival, leading to a perception that the event is no longer worth the effort [21][24][25] Group 1: Influencer Dynamics - Influencers are feeling the pressure, with Li Jiaqi expressing frustration over the demands of constant engagement and the lack of genuine excitement in his promotions [3][6] - The competitive landscape among influencers has shifted, with Dong Yuhui appearing less engaged and focusing on local product promotions rather than traditional sales tactics [7][8] - Many influencers are struggling to innovate their content, leading to a sense of stagnation in the market [10][12] Group 2: Consumer Sentiment - Consumers are increasingly aware that "Double Eleven" may not offer the best prices, leading to a trend of cautious spending and a focus on essential purchases rather than impulse buys [17][21] - The complexity of promotional strategies, such as multi-layered discounts, is causing frustration among consumers, who feel overwhelmed by the effort required to achieve savings [18][24] - There is a growing sentiment that the festival's original purpose of providing value has been lost, with many consumers feeling "betrayed" by misleading pricing strategies [21][25] Group 3: Platform Strategies - E-commerce platforms are adapting their strategies to reduce reliance on top influencers, focusing instead on brand-led live streaming and diversified content [13][14] - The shift towards "interest e-commerce" and brand self-broadcasting is gaining traction, indicating a move away from traditional influencer-driven sales models [14][26] - The extended duration of the festival, now spanning several weeks, is seen as beneficial for brands that prefer a more sustainable approach to sales rather than a single-day rush [15][16]

Core Insights - The necessity of "Double Eleven" is affirmed by industry leaders, viewing it as a significant commercial node despite the rise of live commerce and other sales scenarios [1][2] - Data from major platforms like Tmall, JD, and Douyin shows impressive sales performance during the event, with Tmall reporting over 80 brands achieving over 100 million yuan in sales on the first night [1][2] Group 1: Sales Performance - Tmall reported that 80 brands achieved over 100 million yuan in sales, with 30,000 brands doubling their sales [1] - JD's sales from October 9 to October 20 showed over 52,000 brands with sales increasing by over 300% year-on-year, and over 3,300 categories experiencing doubled growth [1] - Douyin reported over 41,000 merchants achieving a 500% year-on-year sales increase through live streaming, with the number of merchants surpassing 100 million yuan in sales increasing by 900% [1] Group 2: Changing Dynamics of "Double Eleven" - The event is evolving from a focus on GMV growth to a more sustainable long-term accumulation strategy for brands [2] - The promotional mechanisms have simplified, moving towards direct discounts rather than complex reduction schemes, indicating a shift to a "clean and straightforward" discount era [3][4] - Platforms are prioritizing user lifetime value (LTV) over GMV, reflecting a strategic shift in focus towards retaining users and merchants [4] Group 3: Brand Strategies - Brands are increasingly relying on their own live streaming channels rather than depending on top influencers, with significant growth in self-broadcasting [9][10] - The rise of brand self-broadcasting is supported by platforms offering tools and training, indicating a shift in how brands engage with consumers [9] - Successful examples include brands like DeShiMan and HaoHuanLuo leveraging celebrity endorsements and strategic marketing to achieve substantial sales increases during the event [10] Group 4: Future Implications - "Double Eleven" is transitioning into a strategic node for driving annual business rather than merely a sales event, reflecting broader trends in consumer behavior and retail innovation [11] - The simplification of promotional mechanisms and the focus on brand autonomy suggest a competitive shift among platforms towards ecosystem development rather than just promotional strategies [11]

Core Viewpoint - The recent Double Eleven event has seen Li Jiaqi facing backlash due to discrepancies in pre-sale and actual product prices, leading to rumors of significant financial losses for his livestreaming sessions [2][3]. Group 1: Price Discrepancies and Consumer Reactions - Consumers reported that pre-sale prices in Li Jiaqi's livestream were higher than the actual market prices, with some differences reaching 50-60 yuan [2]. - A specific example highlighted a face mask that was sold for 308 yuan during pre-sale, while the same product was available for 291 yuan in the market, resulting in a 17 yuan difference [2]. - Li Jiaqi quickly denied these claims during his livestream, labeling them as false [3]. Group 2: Brand and Platform Dynamics - The situation was exacerbated by brands offering sudden limited-time subsidies, which made the total payment lower than the pre-sale prices in Li Jiaqi's livestream [3]. - This incident reflects a shift in power dynamics where brands are regaining pricing authority, moving away from the previous model where Li Jiaqi was seen as the provider of "the lowest prices" [5][19]. Group 3: Historical Context and Changes in Influence - Li Jiaqi's past controversies, such as the Flower West incident, indicate a loss of empathy towards consumers, which has affected his popularity and sales [7][9]. - The decline in sales during the Double Eleven event compared to previous years suggests a significant drop in consumer trust and engagement [9]. - The overall market for livestream e-commerce is entering a phase of saturation, with growth rates declining significantly from previous years [23]. Group 4: Shift Towards Brand Self-Broadcasting - Brands are increasingly investing in self-broadcasting rather than relying solely on top influencers, with a notable rise in the number of merchants achieving high sales through their own channels [23][24]. - Data indicates that a significant portion of sales during major events is now coming from brand self-broadcasting, reflecting a broader industry trend [23][24]. Group 5: Platform Changes and Industry Evolution - Platforms like Douyin and Taobao are adjusting their strategies to support mid-tier and emerging influencers, reducing reliance on top-tier streamers [25][30]. - The competitive landscape is evolving, with a notable decrease in the dominance of super influencers, as seen with the recent withdrawal of prominent figures like Xinba [37].

Core Insights - The necessity of the Double Eleven shopping festival is affirmed by industry leaders, viewing it as a significant commercial milestone despite the rise of live commerce and other sales channels [1][2] - Data from major platforms like Tmall, JD, and Douyin indicates strong sales performance during the event, with Tmall reporting over 80 brands achieving sales exceeding 100 million yuan and JD seeing over 5.2 million brands with sales up over 300% year-on-year [1][2] - The focus of Double Eleven has shifted from merely achieving high GMV to fostering long-term brand growth and customer loyalty, reflecting a more strategic approach to sales [2][9] Sales Performance - Tmall's opening night saw 80 brands surpassing 100 million yuan in sales, with 30,000 brands doubling their sales figures [1] - JD's promotions from October 9 to October 20 reported over 5.2 million brands with sales growth exceeding 300%, and over 3,300 categories experiencing doubled sales [1] - Douyin reported over 41,000 merchants achieving a 500% year-on-year sales increase through live streaming, with the number of merchants surpassing 100 million yuan in sales increasing by 900% [1] Changing Dynamics - The Double Eleven event is evolving from a chaotic sales frenzy to a more measured approach, with brands focusing on sustainable growth rather than just short-term sales spikes [2][3] - Consumers are showing fatigue towards complex discount mechanisms, leading platforms to adopt simpler pricing strategies such as direct discounts and no-threshold coupons [3][4] - The emphasis is now on customer lifetime value (LTV) rather than just GMV, indicating a shift in how platforms measure success [4] Brand Strategy - Brands are increasingly relying on their own live streaming channels rather than depending solely on top influencers, with significant growth in self-broadcasting sales [6][7] - The rise of brand self-broadcasting is supported by platforms offering tools and training, allowing over 200,000 small and medium-sized businesses to grow through self-broadcasting [7] - Successful marketing strategies during Double Eleven include leveraging celebrity endorsements and tailored promotions, leading to substantial sales increases for brands [8] Future Outlook - The Double Eleven festival is becoming a strategic node for brands to enhance their market presence and customer engagement throughout the year, rather than just a peak sales event [9] - The simplification of promotional mechanisms and the integration of instant retail are shifting the competitive landscape among platforms, focusing on ecosystem development rather than just promotional tactics [9]

Core Viewpoint - The article discusses the transformation of the e-commerce industry, particularly focusing on the challenges faced by live-streaming sales, exemplified by the controversies surrounding top influencer Li Jiaqi during the Double Eleven shopping festival. It highlights the shift from a growth-driven model to a more competitive, value-driven landscape, where consumer behavior is changing and brands are reassessing their reliance on influencers [5][8][12]. Group 1: Live Streaming E-commerce Challenges - Li Jiaqi faced significant backlash during this year's Double Eleven due to pricing discrepancies, leading to a refund wave estimated at 8 billion yuan [5][7]. - The complexity of promotional rules has increased, transitioning from simple discounts to intricate combinations of pre-sale reductions and various coupons, which has negatively impacted consumer experience [7][11]. - The shift in consumer behavior towards rationality and brand empowerment has led to a decline in the influence of super influencers like Li Jiaqi, as brands begin to build their own direct-to-consumer channels [8][12]. Group 2: Industry Evolution - The e-commerce landscape has evolved from a focus on acquiring new users to competing for existing ones, necessitating a longer promotional cycle to enhance user engagement [13][15]. - The rise of platforms like Douyin and Kuaishou has fragmented traditional e-commerce traffic, forcing established platforms to adapt by integrating external payment and logistics solutions [15][16]. - The emergence of brand self-broadcasting has reduced dependency on super influencers, as brands seek to establish their own market presence and consumer trust [20][21]. Group 3: Future Directions - The article suggests that the future of live-streaming e-commerce will focus on value competition rather than mere traffic acquisition, emphasizing personalized service and product quality over low prices [22][23]. - Successful case studies, such as the rapid response to consumer demand for a promotional item, illustrate the potential for agile supply chain management in the evolving market [22][23]. - The competitive landscape will increasingly favor brands that can effectively leverage their own channels and engage directly with consumers, moving away from reliance on influencer-driven sales [23].

Core Insights - The trend in live commerce is shifting from reliance on top KOLs (Key Opinion Leaders) to brand-owned live streaming channels, with official brand live rooms capturing over half of the top 10 GMV (Gross Merchandise Value) in recent statistics [1][11][12] - Consumers are increasingly prioritizing quality and brand trust over the allure of celebrity endorsements, indicating a maturation in the live commerce market [2][3][17] Consumer Behavior - Consumers like "Chen Jie" have shifted their purchasing focus from top KOLs to official brand live rooms, driven by better price guarantees and product quality [4][6] - Younger consumers, such as "Xiao Yan," express a loss of trust in top influencers due to negative incidents, leading them to prefer brand live streams for their perceived reliability [8][10] Brand Strategy - Brands are increasingly establishing their own live streaming teams and strategies, moving away from dependence on external influencers, which allows for better control over pricing and brand messaging [14][15][20] - Successful brands, like "Daphne," have transitioned from relying on KOLs to building their own live streaming capabilities, resulting in significant sales growth [14][19] Industry Evolution - The live commerce ecosystem is evolving, with brands now able to leverage improved supply chains and platform support to create professional live streaming experiences [20][21] - Platforms are recognizing the need for a diverse range of brands and are implementing support programs for brand self-broadcasting, enhancing the overall health of the e-commerce ecosystem [21][22] Future Outlook - Brands must innovate their live streaming content and build trust with consumers to thrive in the competitive landscape, focusing on quality and user engagement [24][26] - The shift towards brand-led live commerce signifies a more mature and competitive market, with the potential for diverse content and improved consumer experiences [24][26]

Core Viewpoint - The announcement of the influencer Xinba's retirement from the live streaming industry has raised skepticism among fans due to his previous multiple retirement declarations, leading to questions about the authenticity of this decision [2][3] Group 1: Xinba's Retirement Announcement - Xinba announced his departure from the live streaming industry on August 18, citing health concerns, specifically that his lungs resemble those of a 95-year-old [2] - This marks Xinba's fifth announcement regarding retirement, with previous declarations made in April 2020, April 2021, November 2023, and April 2024, leading some to view it as a marketing tactic [2] Group 2: Impact on Supply Chain and Agents - The news of Xinba's retirement has caused significant concern among agents of his brand, Xin Xuan, who were relying on upcoming sales to clear unsold inventory [3] - Agents reported that unsold inventory from previous sales events, such as the '6.18' event, remained, and they were counting on the '8.18' live stream to help sell these products [3] Group 3: Health Concerns Related to Products - Xinba's retirement may be linked to health issues surrounding his brand's sanitary products, "Mian Mima," which were found to contain high levels of thiourea, a substance classified as a potential carcinogen [3][4] - The cumulative sales of "Mian Mima" over eight years reached 3.33 billion yuan, with reports of health issues among users, including thyroid cancer and other related conditions [3] Group 4: Industry Trends and Shifts - The live streaming e-commerce industry is undergoing a transformation, moving from reliance on individual influencers to a focus on brand-driven sales, as evidenced by the shift in strategies among major platforms [5] - The latest report from Douyin indicates that nearly 70% of merchants will generate income through self-broadcasting by 2024, reflecting a significant change in consumer behavior and platform strategies [5] - The success of brands like Dong Yuhui's Oriental Selection, which saw a 229% increase in stock price after shifting focus to supply chain and self-operated products, highlights the trend of prioritizing product quality over influencer appeal [5]