This report systematically expounds the theoretical logic and practical experience of live streaming e-commerce to promote new consumption. At the theoretical level，this report analyzes from two dimensions of consumer demand “iceberg theory” and value co-creation 5S model. “iceberg theory” reveals that live streaming e-commerce can not only meet the explicit needs of consumers，but also tap the hidden needs of consumers by creating a shopping atmosphere，optimizing interactive experience and enhancing social identity. The value co-creation 5S model illustrates that live streaming e-commerce realizes multi-subject value co-creation through five paths：scene/sence，social/share，discovery/insight，service/trust and supply-chain synergism. At the practical level，this chapter analyzes the specific performance of live streaming e-commerce to promote new consumption from five dimensions：First，to promote personalized consumption and quality-oriented consumption，especially to meet the needs of Generation Z for personalized and quality-oriented goods，and to help the rise of national trend and domestic goods；The second is to promote health consumption，in line with consumers’ pursuit of “light health”，and promote the consumption of health products such as fitness sports；The third is to promote self-pleasing consumption and experience consumption to meet people’s needs for fun and decompression；Fourth，promote the facilitation of consumption，through the “look-ask-buy” one-stop service model and local life services and other new forms of business to enhance the convenience of consumption；Fifth，promote green consumption and low-carbon consumption，and promote the concept of sustainable consumption by optimizing the supply chain and promoting green products.