Core Viewpoint - The article discusses the rise and fall of the micro-business (WeChat business) model, highlighting its initial success driven by social media and the subsequent decline due to market changes and regulatory pressures [6][32]. Group 1: Rise of Micro-Business - The micro-business model thrived due to the emergence of WeChat and the concept of "private traffic," allowing individuals to leverage personal networks for sales [13][14]. - In 2015, the number of micro-business practitioners in China exceeded 12 million, with a significant portion being stay-at-home parents and students seeking income opportunities [18]. - The rapid growth of disposable income in lower-tier cities (38% CAGR from 2010 to 2018) fueled the micro-business boom, as these markets were more receptive to the model [21]. Group 2: Challenges and Decline - The micro-business landscape faced challenges from regulatory scrutiny, particularly after the introduction of the E-commerce Law in 2019, which mandated business licenses for operators [32]. - Issues such as the proliferation of counterfeit products and unsustainable business practices led to a decline in consumer trust and the eventual downfall of many micro-businesses [27][32]. - The article notes that many former micro-business operators have transitioned to other platforms like Douyin and Kuaishou, or have adopted new models such as community group buying [41]. Group 3: Evolution and Future Directions - The introduction of the "Tuike" model by WeChat represents a shift towards a more structured and sustainable business environment, allowing users to promote products without the need for inventory [44][51]. - The "Tuike" model aims to leverage social connections for sales while ensuring product quality and compliance with regulations, marking a significant evolution from the chaotic micro-business era [50][51]. - Experts suggest that the future of social commerce will focus on quality over speed, with platforms like WeChat seeking to create a more reliable ecosystem for both consumers and sellers [50].