Core Viewpoint - The era of influencer live-streaming e-commerce may be coming to an end, as evidenced by the decline in activity from prominent figures like Xiao Yang Ge, who once dominated the space [2][3]. Industry Challenges - The current state of the live-streaming e-commerce industry reveals significant challenges, including: 1. Difficulty for brands to create content and high costs for purchasing traffic, leading to a lack of effective brand communication [5]. 2. The need for large teams to manage product selection, supply chain, content production, and live-stream operations, which complicates scalability and increases costs [6]. 3. Trust issues between consumers and platforms due to the lack of quality control in product selection, resulting in consumers relying more on individual influencers than the platforms themselves [6]. 4. Poor shopping experiences caused by the conflict between entertainment and sales, as consumers are overwhelmed by competing merchants on platforms [6]. 5. Rising costs associated with paid traffic, which diminishes the return on investment for merchants and leads to unsustainable business models [7]. Future Outlook - The future of live-streaming e-commerce may involve: 1. Establishing channel brands with value propositions that resemble retail brands, focusing on reliable product selection and continuous content production [8]. 2. Developing a matrix of live-streaming and short video channels for brands, incorporating official live-streaming rooms and distribution mechanisms to enhance brand visibility and engagement [8]. 3. The emergence of professional service agencies that specialize in live-streaming and short video content, providing tailored solutions for merchants in specific verticals [9][10].