“…The upstream supply side primarily consists of commodity suppliers (e.g., manufacturers, brands, distributors, and origin) (You, 2020 ); the midstream primarily consists of live broadcast service providers, channel platforms (e.g., e-commerce platforms, content platforms, and social platforms) (Liu et al, 2021 ), and anchors (e.g., Internet celebrities, star artists, entrepreneurs, and other anchors); and the downstream demand side primarily consists of consumption (Maier and Wieringa, 2021 ). In the traditional centralized e-commerce model, the platform is the center of transactions and communication between brands, merchants, and consumers, and it has tight control over flow, transaction data, and customer relationships (Yue et al, 2019 ; Varadarajan et al, 2021 ; Peruchi et al, 2022 ). With the development of socialization, containerization, and decentralization of e-commerce, the platform's strong control over merchants and consumers has gradually eroded (Li et al, 2021 ), allowing brands, merchants, and consumers to have direct contact with consumers and make sales conversion more efficient and cost-effective (Gielens and Steenkamp, 2019 ; Wedel et al, 2020 ).…”