Core Viewpoint - The collective low profile of top live-streaming hosts reflects a significant shift in the e-commerce landscape, moving from a reliance on individual influencers to a more decentralized approach that emphasizes team systems and professional expertise [5][19][30]. Group 1: Changes in Live-streaming Hosts - This year's 618 shopping festival has seen a noticeable decline in the activity of top live-streaming hosts, with many reducing their appearances and focusing on team-based strategies [4][6][12]. - Influencers like Li Jiaqi and Dong Yuhui are adopting a more low-key approach, with Li Jiaqi participating less frequently and Dong Yuhui's team achieving significant sales without his constant presence [7][16]. - The trend indicates a shift from a reliance on individual star power to a more sustainable model where teams can operate independently, reducing the risk associated with over-dependence on a single host [17][28]. Group 2: E-commerce Platform Strategies - E-commerce platforms are moving towards decentralization, supporting mid-tier hosts to mitigate risks associated with top influencers, as seen in the decline of GMV contributions from top hosts [19][20]. - Platforms like Douyin and Taobao are implementing policies to promote mid-tier influencers, with Douyin's top hosts now contributing only 9% of total GMV [20][22]. - Brands are increasingly opting for self-operated live-streaming channels to reduce reliance on top hosts, as the costs associated with top influencers can significantly erode profit margins [21][22]. Group 3: Consumer Behavior and Market Dynamics - Consumers are becoming more discerning, moving away from blindly following top influencers to seeking professional content and genuine endorsements [22][23]. - The e-commerce industry is experiencing a slowdown, with a reported 7% decline in total sales during this year's 618 festival, marking the first negative growth in 16 years [24][27]. - Regulatory pressures and a more cautious consumer base are contributing to the shift in dynamics, as the industry moves towards greater compliance and transparency [23][24]. Group 4: Future Trends in Live-streaming E-commerce - The future of live-streaming hosts will likely focus on niche markets, with specialized influencers gaining traction as consumers seek expertise over generalist approaches [30][31]. - Technological advancements are expected to reshape the live-streaming landscape, enhancing efficiency and enabling new formats such as AI-driven hosts [31][32]. - The competitive edge for future influencers will hinge on their ability to manage supply chains effectively, as the focus shifts from mere promotion to comprehensive control over product quality and pricing [33][34].