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Live streaming sales (LSS) is an emerging and flourishing practice in the retail industry. While its implementation has been pervasively attempted, there is a lack of systematic and academic exploration of the practice. Therefore, the aim of this study was to investigate the LSS ecosystem and its development through a literature review and an industry analysis. Moreover, by pinpointing the pitfalls in current practices, this paper presents the practical implications of LSS and provides recommendations and directions for future academic exploration.

The aim of the present study was to investigate the developing trajectory, exclusive elements (such as multi-channel networks (MCNs) and live streamers) and other critical components of the LSS ecosystem using a mixed-methods approach that comprises content analysis of newspaper articles and press releases, literature view and industry analysis.

The results of the analyses indicate the presence of several nonfungible modular components in the LSS ecosystem, including upstream suppliers, MCNs, live streamers and platforms. It was also found that inequalities and hierarchies are inherent to the LSS ecosystem as it currently exists: low-end participants in the LSS industry and small- and medium-sized enterprise owners, who constitute the majority of LSS practitioners, cannot reach the break-even point via LSS hosted by top-level live streamers or others (low-level live streamers, employees, etc.).

This article discusses the LSS ecosystem based on the nature of the nonfungible modules within it. In addition, it discusses the modules (roles) and relationships among them based on the theory of ecosystem developed by previous studies. Furthermore, drawing from an analysis of the pitfalls in the LSS ecosystem, this article highlights strategies for two critical e-commerce processes: 1) choosing which type of LSS to apply based on the factors of brands, products and consumers and 2) integrating LSS to optimize post-sale service and appeal to the sustainability of development.

This research paper aims to investigate the critical factors influencing the live commerce industry and their implications for Key Opinion Leaders (KOLs) and brands.

The study comprehensively reviews previous research, develops relevant hypotheses and utilizes personal information from 66 anchors, along with data from 23,000 product links obtained from the backends of live commerce platforms.

The study emphasizes that KOLs with higher traffic significantly influence Gross Merchandise Volume (GMV). Intriguingly, KOLs with lower traffic levels exhibit a more pronounced effect on Return on Investment (ROI), highlighting their significance in driving profitability. Furthermore, the study explores the correlation between KOL hashtags and GMV/ROI and the intricate relationship between product types and KOL hashtags.

The findings significantly enhance the understanding of live shopping behavior and provide valuable insights for business management strategies. Practitioners can leverage this empirical evidence to make informed decisions, utilizing extensive data samples of KOLs and brands.

This research contributes unique insights into the live-streaming commerce industry using backend data from Live Streaming E-commerce platforms. The findings are more accurate based on market data than previous studies that relied on platform reviews or questionnaires. Additionally, this paper investigates the impact of KOLs on the performance of live e-commerce from three perspectives: GMV, ROI and hot-selling products.