Core Insights - Xiaohongshu is testing a new live streaming feature that allows businesses to collect customer contact information directly during live sessions, enhancing user engagement and business opportunities [1] Group 1: New Feature Development - The new live streaming feature, referred to as "lead live streaming," is currently in commercial testing and will soon be available to a broader range of business users [1] - This feature enables consumers to leave their contact information directly within the live stream, facilitating easier follow-up by businesses [1] Group 2: Business Impact - The introduction of this feature is expected to provide significant incremental business opportunities for merchants focused on lead generation and customer acquisition [1] - The feedback from the initial testing phase indicates that this new capability could lead to a more efficient conversion process for businesses, as it shortens the communication pathway between consumers and merchants [1] Group 3: User Engagement - Users are reportedly more likely to express purchasing intent during live streams, but the existing process requires them to exit the live session to contact businesses, which is less efficient [1] - The new feature aims to streamline this interaction, benefiting both businesses and consumers by creating a more direct connection [1] Group 4: Market Signals - The introduction of this feature represents a new growth avenue for Xiaohongshu, rather than replacing existing customer engagement channels, indicating a low overlap between the new and existing user groups [1]