Core Viewpoint - The disparity between the high costs associated with influencer marketing and the actual sales results highlights the deceptive practices within the live-streaming e-commerce industry, raising concerns about the integrity of data presented by influencers and the potential exploitation of small businesses [2][3]. Group 1: Influencer Marketing Issues - A businessman in Heilongjiang paid 50,000 yuan as a "placement fee" to a popular influencer with millions of followers, expecting significant sales, but only one order was completed [2]. - Another case involved a businessman from Henan who was promised a minimum sale of 20,000 pairs of shoes but ended up selling only 58 pairs, which is less than 0.3% of the promised amount [2][3]. - Influencers often evade accountability by claiming that contracts do not guarantee sales, leading to frustration among businesses seeking refunds [3]. Group 2: Data Integrity Concerns - Complaints regarding live-streaming sales have surged, with 402,000 reports received in 2024, marking a 19.3% increase from the previous year, and complaints related to short video platforms rising by 48.8% [3]. - Many small businesses lack the ability to discern the reliability of the data presented by influencers, which can include purchased followers and manipulated view counts [3][5]. - The discrepancy between the impressive data shown before signing contracts and the actual sales results raises questions about the authenticity of the influencers' claims [3]. Group 3: Regulatory and Ethical Considerations - China's e-commerce law prohibits false advertising and data manipulation, emphasizing the need for truthful marketing practices [4]. - The live-streaming industry is urged to enhance data verification processes to ensure that displayed metrics are accurate and reflective of market realities [5]. - Regulatory bodies are called to implement targeted management measures to address industry irregularities and enforce stricter oversight against false advertising and data fraud [6].

Core Viewpoint - The article highlights the growing concerns regarding the effectiveness and integrity of influencer marketing in live-streaming sales, particularly focusing on the disparity between promised and actual sales outcomes, leading to dissatisfaction among merchants [1][2][3]. Group 1: Case Studies - A businessman in Heilongjiang paid 50,000 yuan as a "slot fee" to a popular influencer with millions of followers, expecting significant sales, but only one order was completed [1][2]. - Another case involved a merchant in Henan who was promised a minimum sale of 20,000 pairs of shoes but ended up selling only 58 pairs, which is less than 0.3% of the promised amount [2][3]. Group 2: Market Trends - Complaints related to live-streaming sales have surged, with the 12315 platform receiving 402,000 complaints in 2024, marking a 19.3% increase year-on-year, and complaints on short video platforms rising by 48.8% [2]. Group 3: Industry Practices - Many influencers and agencies exploit information asymmetry, leading to misleading data presentations that can deceive small merchants into signing unfavorable contracts [3][4]. - The article emphasizes that some influencers may inflate their follower counts and engagement metrics through artificial means, such as purchasing fake followers or using bots [3][5]. Group 4: Regulatory Environment - China's e-commerce law prohibits false advertising and misleading commercial practices, while the "Network Live Marketing Management Measures" specifically bans data manipulation in live-streaming [4][5]. - There is a call for improved regulatory measures to address industry malpractices, enhance data authenticity, and ensure that live-streaming platforms uphold integrity in their operations [5]. Group 5: Recommendations for Merchants - Merchants are advised to critically assess potential partners beyond just follower counts, focusing on past performance and customer feedback, and to clearly outline key contractual terms to mitigate risks [5].

Core Viewpoint - The article highlights the growing concerns regarding the effectiveness and reliability of influencer marketing in live-streaming sales, particularly focusing on the disparity between promised and actual sales outcomes, leading to dissatisfaction among small merchants [2][3][6]. Group 1: Issues Faced by Merchants - Merchants like Mr. Tao and Mr. Xue have experienced significant discrepancies between the sales promised by influencers and the actual sales achieved, with Mr. Tao only selling 1 unit despite a 50,000 yuan "placement fee" and Mr. Xue selling only 58 pairs of shoes against a promised 20,000 pairs [2][3]. - Influencers often evade accountability by claiming that contracts do not guarantee sales, which has led to frustration among merchants seeking refunds [6][9]. Group 2: Data Reliability Concerns - The article points out that many merchants are misled by seemingly impressive data presented by influencers, such as high follower counts and live viewer numbers, which may not reflect genuine engagement or sales [7][9]. - There are allegations that some influencers engage in practices like purchasing fake followers and manipulating live-stream data, which undermines the integrity of the marketing process [10][12]. Group 3: Regulatory and Industry Response - The increase in complaints related to live-streaming sales, with 402,000 reports in 2024, indicates a growing need for regulatory oversight in this sector [6]. - The article calls for improved regulations and enforcement against deceptive practices in influencer marketing, emphasizing the need for platforms to ensure data accuracy and transparency [10][12]. Group 4: Recommendations for Merchants - Merchants are advised to critically evaluate potential influencer partnerships, focusing on past performance and genuine user feedback rather than just follower counts [12]. - It is recommended that merchants clearly outline their rights and obligations in contracts to mitigate risks associated with verbal agreements [12].

Core Viewpoint - The article highlights the growing discontent among small merchants regarding the effectiveness and reliability of influencer marketing, particularly in live streaming sales, where promised sales figures often do not materialize, leading to financial losses for businesses [1][4][6]. Group 1: Case Studies of Merchants - A merchant in Heilongjiang paid 50,000 yuan as a "slot fee" to an influencer with millions of followers, expecting to sell 6,000 to 8,000 units of beer, but only one sale was made [1][4]. - Another merchant from Henan invested 50,000 yuan and prepared over one million yuan worth of inventory based on promises of selling 20,000 pairs of shoes, but only 58 pairs were sold, which is 0.3% of the promised amount [2][6]. Group 2: Complaints and Regulatory Response - Merchants are facing difficulties in obtaining refunds, as influencers' representatives claim that contracts do not guarantee sales volumes, leading to frustration among affected merchants [6][9]. - In 2024, the 12315 platform received 402,000 complaints related to live streaming sales, marking a 19.3% increase from the previous year, with complaints on short video platforms rising by 48.8% [6][10]. Group 3: Issues with Data Integrity - Many merchants are misled by seemingly impressive data presented by influencers, such as high online viewer counts and sales figures, which may not reflect actual performance due to potential data manipulation [7][9]. - The article emphasizes that some influencers may use purchased followers and artificial engagement tactics, leading to a significant disparity between reported and actual sales [7][10]. Group 4: Recommendations for Improvement - The article calls for stricter regulations and oversight in the live streaming e-commerce sector to combat issues like false advertising and data manipulation, urging platforms to ensure data integrity [10][12]. - Merchants are advised to critically evaluate potential influencer partnerships, focusing on past performance and user reviews rather than just follower counts, and to clearly outline contractual terms to protect their interests [12].

曾经的网红零食品牌，又要赴港上市了。 近日三只松鼠向港交所递交招股书。这家成立于2012年，踩着电商红利在淘宝崛起的品牌，曾以年销百亿的业绩跻身行业头部，2019年登陆深交 所，成为"网红零食第一股"。 那是三只松鼠最风光的时候，其创始人兼CEO章燎原曾回忆，得知成功过会消息后，他转身给妻子发微信，自豪地说"搞的第一个上市公司"。当 时，章燎原以95亿元身家坐上了安徽首富的位置。 但就在上市后，三只松鼠业绩就迅速变脸，上市当年，三只松鼠的净利润就同比下降了21.43%，2020年到2023年，营收则四连降。因为过度依赖 线上渠道、营销成本高企的问题，业绩陷入低谷，股东也频频减持。 颓势在2024年才略有所好转。凭借着抖音流量和"降价"两个杀手锏，三只松鼠在2024年以106亿元营收、归母净利润4.08亿元，重回百亿俱乐 部。 来源丨凤凰网财经《IPO观察哨》 就在业绩回暖但还没坐稳时，三只松鼠就官宣了赴港上市。又拿下了一个"第一"——是国内首个谋求"A+H"双上市的零食品牌。 4月29日，三只松鼠市值106亿元，股价26.47元/股，较2020年最高点的股价已跌去了七成。解析招股书，三只松鼠还是三只松鼠，依赖 ...