sustainability
Article
Influence of Perceived Value on Consumers’ Continuous
Purchase Intention in Live-Streaming E-Commerce—Mediated
by Consumer Trust
Yanyan Wu * and Hongqing Huang
Citation: Wu, Y.; Huang, H. Influence
of Perceived Value on Consumers’
Continuous Purchase Intention in
Live-Streaming E-Commerce—
Mediated by Consumer Trust.
Sustainability 2023, 15, 4432.
https://doi.org/10.3390/
su15054432
Academic Editor: Francisco
José Liébana-Cabanillas
Received: 5 February 2023
Revised: 23 February 2023
Accepted: 27 February 2023
Published: 1 March 2023
Copyright: © 2023 by the authors.
Licensee MDPI, Basel, Switzerland.
This article is an open access article
distributed under the terms and
conditions of the Creative Commons
Attribution (CC BY) license (https://
creativecommons.org/licenses/by/
4.0/).
Sustainability 2023, 15, 4432. https://doi.org/10.3390/su15054432
School of Computer and Information Engineering, Harbin University of Commerce, Harbin 150028, China
* Correspondence: wyyhrb@163.com
Abstract: As an emerging e-commerce model that combines the convenience of traditional e-commerce
with the real-time and interactive nature of live streaming, live-streaming (LS) e-commerce is loved
and recognized by consumers. At the same time, LS e-commerce also faces many difficulties such as
homogenization of marketing content and consumers’ low willingness to repeat purchase. Therefore,
how to better stimulate consumers’ continuous purchase willingness in LS has become a hot topic of
current research. Based on the stimulus–organism–response (SOR) model, this paper constructs a
model of consumers’ purchase intention mediated by consumers’ trust in LS e-commerce, measuring
consumers’ perceived value in LS e-commerce in three dimensions: utilitarian value, hedonic value
and social value, and using consumers’ trust in the streamer and trust in the product as mediators to
investigate the influence of perceived value on consumers’ continuous purchase intention. Data of
Chinese users were collected by questionnaire survey to prove the assumptions of this paper. The
results show that consumers’ perceived utilitarian value, hedonic value and social value significantly
and positively influence their trust in the streamer; consumers’ perceived utilitarian value and social
value significantly and positively influence their trust in product; trust in streamer significantly and
positively influences their trust in the product; and consumer trust partially mediates the relationship
between perceived value and consumers’ willingness to continue to purchase.
Keywords: live-streaming (LS) e-commerce; stimulus–organism–response (SOR) theory; perceived
value; consumer trust; continuous purchase intention
1. Introduction
With the full penetration of 4G networks and the arrival of 5G technology, the
e-commerce model has diversified, and live-streaming (LS) e-commerce has gradually
entered the public view. Along with the rise of head streamers, the LS e-commerce industry
has seen a spurt in development. During the COVID-19 pandemic in 2020, LS e-commerce
perfectly suited the needs of the people who were under closed management for enter-
tainment and shopping and helped sell unsalable products in the epidemic area, playing
a major role in rural revitalization, economic recovery and employment [1]. Influencer
Marketing Hub released data showing an upward trend in the growth of the global live
e-commerce industry from March 2020 to July 2021, with a 76% increase in live purchases
and a tenfold higher conversion rate through live streaming compared to other forms of
e-commerce. According to the Coresight Research, the U.S. live-streaming market is forecast
to reach USD 11 billion in 2022 and around USD 25 billion by 2023. By comparison, the
firm predicts China’s live shopping industry to reach USD 300 billion in 2022. Meanwhile,
about 26 percent of people currently prioritize live retail, which will double in the next 12
to 18 months, according to a Gartner Research survey. This shows that with the accelerated
formation of online consumption habits among users during the epidemic, watching live
streams and shopping in them has become one of the mainstream habits of Internet users.
However, with the increase in the number of LS practitioners, China’s LS e-commerce
https://www.mdpi.com/journal/sustainability
Sustainability 2023, 15, 4432 2 of 19

industry is becoming increasingly saturated, and the overall growth rate has begun to slow
down and gradually entered the era of fighting for user stock; whether users spend in LS for
a long time has become the key to the survival of LS e-commerce platforms. Therefore, the
study of users’ consumption behavior in LS e-commerce has strong practical significance.
For the study of consumer purchasing behavior, scholars have mostly used perceived
value to explain it. Cao et al. [2] found that perceived value positively and significantly
affects customer engagement behavior through empirical analysis. Yan et al. [3] proposed
that there is a mediating effect of perceived value between live characteristics and purchase
behavior. Based on previous research by scholars, the influence of perceived value on users
in the e-commerce environment has been verified, but most of them are direct measures of
the influence of perceived value on purchase behavior, lacking in-depth research on the
path of influence. In the case of LS e-commerce, the e-commerce streamer is a salesperson
and an opinion leader and is the link between the product and the consumer, while the
brand, reputation and quality of the product are also the focus of consumers’ consideration,
and the final purchase behavior of the consumer is largely based on trust in the product
and trust in the streamer’s recommendation. However, in existing studies, consumer trust
in LS e-commerce is often treated as a whole and not in detail. This suggests that future
research in LS e-commerce should focus on exploring what value consumers can perceive
when shopping live and how consumers’ perceived value leads to trust and ultimately
continued consumption in LS e-commerce.
The objective of this study is to analyze the factors influencing consumers’ Continuous
Purchase Intention in LS e-commerce, based on the stimulus–organism–response (SOR)
framework, and to explore the mechanisms of perceived LS e-commerce from three dimen-
sions: utilitarian value, hedonic value and social value. We use a questionnaire to collect
data and use structural equation modeling (SEM) to analyze and validate the theoretical
framework and hypotheses, in order to provide reference for the marketing activities of
consumers and related companies.
The remainder of this paper is organized as follows: First, we review the literature
related to this study. Second, we propose hypotheses and theoretical models based on exist-
ing studies. Third, the questionnaire item design, sampling and questionnaire collection for
this study are presented. Fourth, the research model and hypotheses are tested empirically,
and the results of the study are presented. Fifth, a discussion and conclusion based on the
research results are presented. Finally, the theoretical and managerial implications of this
study are summarized.

2. Literature Review
2.1. SOR Theory
The stimulus–organism–response (SOR) model originated in environmental psychol-
ogy and was originally proposed by environmental psychologists Mehrabian and Russell
to explain and predict the effects of different environmental stimuli on human cognition,
emotions and behaviors [4]. The SOR model of Mehrabian et al. is a modified and opti-
mized version of the S-R model proposed by Woodworth, with the addition of the “O”
variable, which begins to focus on the inner consciousness of organisms such as humans.
S (stimulus) refers to the external factors that can influence an individual, and the model
assumes that different external stimuli have different effects on a person’s internal state
and thus determine the person’s decision-making behavior. The SOR model, in which
stimulus and response are linked by a set of intrinsic variables, has been widely applied to
the systematic analysis of human behavioral intentions by focusing on intrinsic emotional
and cognitive factors.
Donovan and Rossiter first applied the SOR model in a retail environment to study the
influence of the retail store environment on customer buying behavior [5]. Zhou applied
the SOR model to explore how platform characteristics, knowledge characteristics and
contributor characteristics in the knowledge payment market act as stimuli to influence
consumers’ perceived value and thus their willingness to purchase [6]. With the prevalence
Sustainability 2023, 15, 4432 3 of 19

of online shopping and e-commerce, the SOR model was applied to the Internet environ-
ment to investigate the influence of environmental factors on consumers’ willingness to
use the Internet and purchase online in an online environment.

2.2. Continuous Purchase Intention

Continuity of purchase intention is to some extent closely related to consumer loyalty
and is an important psychological indicator for predicting actual repurchase behavior.
Jones and Sasser [7] were the first to suggest that after purchasing a good or receiving a
service, consumers will generate a subjective perceived value based on their last shopping
or service experience. They believed that after purchasing a good or receiving a service,
consumers will develop a subjective perceived value based on their last experience, and
they will form the intention to purchase again. At present, the academic community is
mostly focused on consumer psychology, such as perceived value, consumer trust and
perceived risk. Chai et al. [8] found that consumer perceptions such as perceived usefulness,
perceived value and reliability can significantly influence consumers’ intention to continue
buying. Zhao et al. [9] found that consumers’ intention to continue buying is influenced
by consumers’ habits, which are due to the role of consumers’ trust building. Wang
and Lu [10] found that satisfaction, trust and product perceived complexity are the most
important factors influencing determinants of continued purchase intention. Based on S-O-
R theory, Huang et al. [11] showed that both perceived trust and perceived entertainment
significantly influenced consumers’ intention to continue purchasing.

2.3. Perceived Value

“Shopping value” is an overall assessment of the subjective and objective factors that
make up a complete shopping experience [12]. It is widely used by scholars in explaining
and predicting consumer preferences and buying behavior. Sheth et al. [13] expanded the
field of perceived value on this basis to include functional, social, emotional, conditional
and cognitive value dimensions. Previous research related to perceived value has focused
on utilitarian and hedonic value; Chiu [14] et al. used online shops as a study to verify that
utilitarian and hedonic values positively influenced repeat purchase intentions; Lin and
Lu [15] used utilitarian value and hedonic value as mediating variables and social influence
as stimulus variables to predict consumer acceptance of mobile social networks. However,
in the context of social commerce, people are not only interested in the satisfaction of
utilitarian and hedonic values, such as convenience and enjoyment, but also start to pursue
social values, such as interaction with others and self-fulfillment [16,17]. Therefore, this
paper classifies perceived value into utilitarian, hedonic and social values and investigates
their influence on consumers’ continued purchase intention in LS e-commerce.

2.4. Consumer Trust

In the field of marketing, trust research has always been a topic that scholars can-
not ignore, and with the development of the Internet, the diversity that traditional com-
merce presents in the process of transforming into e-commerce has made trust a growing
concern for scholars. For the definition of trust in e-commerce platform transactions,
Mcknight et al. [18] suggested that trust means that one party believes that the other party
has one or more characteristics that are beneficial to them. In contrast, Li [19] argued that
trust is a rational choice to reduce transaction costs and is a product of modernization.
Following the theoretical foundations of the previous authors, the academic community has
also classified the types of trust in e-commerce platforms. Komiak and Benbasat [20] pro-
posed a new trust model that distinguished between cognitive and affective trust, through
which consumer trust in offline/online commerce is defined as trust in multiple entities:
e.g., companies, agents (sellers, salespeople, websites, SNS administrators), products and
markets/channels (individuals, Internet). As the object of this paper is LS e-commerce,
compared to traditional e-commerce, consumers do not need to contact or understand
entities such as companies, administrators and channel vendors; they only need to face the
Sustainability 2023, 15, 4432 4 of 19

streamer and the product in the live room. Based on this, this paper divides trust in LS
e-commerce into trust in streamer and trust in product. “Trust in streamer” is measured
based on three aspects (i.e., trustworthiness of the streamer, quality service and streamer
recommendation) [21]. “Trust in product” refers to the product meeting expectations, the
appearance and functionality of the product being consistent with the publicity and the
after-sales service of the product being perfect [22].

3. Research Hypotheses
3.1. Perceived Value
3.1.1. Utilitarian Value
In the specific context of online shopping, utilitarian value refers to the degree to
which the features, price and quality offered by a product or service are consistent with the
consumer’s expected utility, and consumers experience the utilitarian value of products
and services when their expected requirements are fully satisfied [23]. When shopping
online, especially when dealing with smaller independent sellers, consumers are often
more concerned with the legitimacy of the supplier and the authenticity of the product [24].
At the same time, in traditional e-commerce, consumers cannot touch and test products
in person before purchasing and can only learn from product specifications, pictures and
other people’s reviews, all of which can increase the perceived risk of shopping online.
Consumers who buy clothes online often find that the clothes they receive do not match their
expectations and do not look good on them. In the context of LS e-commerce, streamers
try on clothes either in person or by hiring models to present a full range of product
information to consumers in an unedited manner, giving them systematic information
about the product and increasing their trust [25,26].
Based on common shopping psychology, the quality and price of a product are often
the first consideration for consumers and an important source of perceived utilitarian value.
Consumers always want to buy good quality goods at a lower price, and in live events,
streamers offer discount coupons and special offers. Sometimes, consumers complain that
prices are too high and can negotiate lower prices with the streamer in real time. Studies
show that low prices increase perceived risk [27]. While consumers are more willing to try
products at low prices, when prices are too low, they can instead increase the perceived risk
to consumers [28]. In addition, consumers tend to shop around and form an expected price
in their mind by comparing offers from various channels. When the price from alternative
channels is lower than this expected price, it can reduce consumers’ perceived profit loss
and enhance the attractiveness of the product to consumers [29]. When the price of the
alternative channel is lower than the expected price, it reduces the perceived loss and
increases the appeal of the product to the consumer.
From the study of consumer trust above, in the context of LS e-commerce, this could
mean that consumers believe that the information they receive is authentic and that they
can purchase a more suitable and affordable product. Through LS, the utilitarian value
in terms of authenticity and price can be increased, and consumers’ uncertainty about
the streamer and the product should be alleviated and their interest needs met. In other
words, consumers may have more trust in the streamer and the product and increase their
willingness to buy. Therefore, the following hypothesis is made in this paper.

Hypothesis 1a (H1a). The utilitarian value of LS e-commerce positively influences consumers’

trust in streamers.

Hypothesis 1b (H1b). The utilitarian value of LS e-commerce positively influences consumers’

trust in products.
Sustainability 2023, 15, 4432 5 of 19

3.1.2. Hedonic Value

Enjoyment value refers to the degree of fun, pleasure and enjoyment that consumers
experience while watching a live stream. Webcasts are highly entertaining, and consumers
can easily achieve a psychological state of excitement and pleasure when shopping [30].
Lv found through empirical research that entertainment in live streaming gives viewers a
sense of immersion and thus motivates consumers to continue watching [31].
Studies have shown that text-based chat rooms on LS platforms enhance social bonds,
and these social bonds improve consumers’ positive emotions such as satisfaction and
attachment, resulting in emotional commitment [32]. At the same time, sending pop-ups as
a format gives users a strong sense of engagement and makes them feel happy [33]. The
gift and dress-up special effects features offered by the various LS platforms also create a
fun and exciting experience for consumers [34].
In interpersonal interactions, trust is very often a subjective assessment based on
emotions. In this study, it is formed through an emotional bond between the consumer
and the streamer. Shopping value is related to the customer’s feelings and emotions,
such as pleasure (hedonic) or a way to satisfy their needs (utilitarian) [35]. In the process
of watching an LS, consumers gain hedonic value from the interactions and activities,
enhancing the shopping experience and the psychological intimacy between the consumer
and the streamer, bringing the consumer and the streamer closer together and prompting
greater confidence in the streamer’s ability, charm and character in providing the service
and generating trust [36]. At the same time, the streamer presents the product in a novel
way, which may also enhance the consumer’s emotions and feelings, thus increasing trust
in the product and leading to purchase behavior. Therefore, the following hypothesis
is proposed.

Hypothesis 2a (H2a). The hedonic value of LS e-commerce positively influences consumer trust
in streamers.

Hypothesis 2b (H2b). The hedonic value of LS e-commerce positively influences consumers’ trust
in products.

3.1.3. Social Value

Social value has often been overlooked in previous scholarly delineations of the
dimensions of perceived value. Sweeney and Soutar [37] argue that consumers do not only
evaluate products and services through utilitarian and hedonic values, but social values
are also involved. In the context of the increasing socialization of e-commerce, sometimes
customers use products in order to gain the approval of social groups, either to conform to
their social norms or to present their intrinsic image [29]. By evaluating recent articles on
social influence in online retailing, Kalia et al. point out that social influence has the power
to influence people’s intentions and decisions [38]; for example, blogger recommendations
on social media directly influence customers’ buying and recommending behaviors [39]
and form trust in products and brands [40].
Social identity refers to an individual’s recognition that he or she belongs to a particular
social group and the emotional and value significance that comes with membership of
that group. Consumers tend to shop in places where they can meet people of their own
kind; they feel a greater sense of belonging and identity. LS provides audience feedback
through real-time pop-ups that can help shoppers infer the characteristics of other users,
the popularity of a product and whether it will be accepted by their social networks [34].
In addition, consumers can assess whether the professionalism, appearance and charisma of
the streamer matches their preferences while watching the live stream and thus determine
whether they can trust the products recommended by the streamer.
The cognitive basis of identity formation in the process of self-categorization further
increases the emotional motivation that individuals invest in relationships [41]. An empiri-
cal study has verified that increased consumer identification enhances customer loyalty
Sustainability 2023, 15, 4432 6 of 19

to a company [42]. Based on this, we predict that the social identity gained by viewers
through LS can perceive social value and increase trust in the streamer. If the product
purchased during the live broadcast improves one’s image and can become a symbol of
the consumer’s identity and status, making one more confident, the consumer should also
have more trust in the product and through trust, the willingness to purchase. Therefore,
the following hypothesis is proposed in this paper.

Hypothesis 3a (H3a). The social value of LS e-commerce positively influences consumers’ trust
in streamers.

Hypothesis 3b (H3b). The social value of LS e-commerce positively influences consumers’ trust
in products.

3.2. Consumer Trust

Based on previous research on consumer trust in traditional e-commerce, combined
with the context of LS e-commerce, this paper divides consumer trust into trust in the
streamer and trust in the product. In social psychology, trust can be considered as a
positive attitude. Coherence theory, a classic theory for studying the relationship between
consumers’ attitudes towards information sources and information objects, is widely used
in the field of studying consumer psychology. The theory states that people have the same
or different attitudes towards various people and things around them due to different
evaluations and that these attitudes can be independent of each other. However, when
one of the cognitive objects (the information source) sends a message related to the other
(the information object), the attitudes between the two are related. If individuals have the
same attitudes towards the two, consistency is created, while if they are different, a range of
negative emotions such as tension and anxiety are caused, thus creating a drive to adjust the
original attitudes towards the cognitive object in order to produce consistent cognitions and
attitudes. In this process, individuals selectively support or avoid certain information in
order to reduce cognitive dissonance [43]. Wang believes that in LS e-commerce, consumers
obtain the most information through the streamer, and their evaluation of the product
receives their level of trust in the information source [44]. As the relationship between these
two types of trust remains untested, we hypothesize that in LS e-commerce, the streamer’s
evaluation of the product as an information source will influence consumers’ attitudes
towards the product and that if consumers trust the streamer enough, they will be more
likely to approve of the product they recommend. Therefore, the following hypothesis is
proposed in this paper.

Hypothesis 4 (H4). Consumer trust in a streamer positively influences consumer trust in a product.

Trust is the cornerstone of business transactions, and consumers make purchase

decisions based in large part on their trust in the merchant and its products. Trust can
influence users’ judgment and behavior in online environments [45]. However, because
of the uncertainty and information asymmetry associated with online shopping, online
trust relationships are difficult to maintain. In the process of LS promotional products,
the consumer and the product are separated, and the user is unable to personally feel and
identify whether the item meets their expectations, so trust in the streamer becomes the key
to making a purchase decision [19]. The positive impact of trust on consumers’ purchase
intentions has been verified through previous studies. Liu et al. [46] found that trust in
weblebrities in LS can significantly and positively influence fans’ purchase decisions. Tsai
and Hung [47] pointed out that consumers with high emotional trust are more willing to
stick to online platforms that they feel satisfied with, thus positively influencing continued
purchase intentions.
Although online consumption models vary in terms of platforms, methods and target
users, they are still essentially consumption in exchange for products or services, and
Jarvenpaa [48] identifies trust as a key factor in stimulating consumer purchase and re-
Sustainability 2023, 15, 4432 7 of 19

purchase behavior. In the online shopping process, when consumers perceive that online
merchants can provide high quality products and services and focus on the realization of
consumer rights, consumers will subjectively eliminate the influence of uncertainties in the
shopping environment. Zhou and Fan [22] pointed out that consumers’ trust in products
stems from their technical trust in the quality of the product and their institutional trust in
the after-sales guarantee. Based on the traditional shopping concept of “you get what you
pay for”, consumers are concerned about the quality of products that are too low priced,
and perfect after-sales service can alleviate consumers’ uncertainty about products and
reduce their perceived risk. In addition, when agricultural products are broadcast live,
streamers often bring the products live on farms, showing the production traceability of
agricultural products in real time, which to a certain extent also reduces consumers’ con-
cerns and uncertainties and reduces the perceived risk. It has been shown that a reduction
in perceived risk can significantly increase consumer trust. Macdonald et al. [49] also found
that consumers’ trust in a product has a positive impact on continuous purchase intentions.
Based on the above analysis, we believe that trust in streamers and products can
positively influence consumers’ purchase intentions. Therefore, the following hypothesis is
proposed in this paper.

Hypothesis 5a (H5a). Trust in streamers positively influences consumer’ continuous purchase intentions.

Hypothesis 5b (H5b). Trust in products positively influences consumer’ continuous purchase intentions.

Based on the theoretical foundation and research hypotheses above, the following
theoretical model is proposed, as shown in Figure 1. Among them, utilitarian value, hedonic
value and social value as the perceived value in live e-commerce belong to the external
stimulus that inspires consumers to generate purchase intention (S); trust in the streamer
and trust in the product in LS as mediating variables, reflecting the psychological changes
of consumers, constitute the mediating transmission mechanism to the perceived value (O);
and finally the response that inspires consumers to generate continuous purchase intention
(R). This theoretical model takes consumers’ trust as a mediating variable and investigates
the transmission mechanism of perceived value on consumers’ willingness to sustain
Sustainability 2023, 15, x FOR PEER REVIEW 8 of 19
purchase in live e-commerce from the perspective of consumers’ psychological changes,
and the model will be verified by means of the experiments in the following sections.

Figure 1.
Figure Researchmodel.
1. Research model.

4. Materials and Methods

4. Materials and Methods
4.1. Questionnaire and Measurements
4.1. Questionnaire and Measurements
This study involves six variables to be measured: utilitarian value, hedonic value,
This
social study
value, involves
trust six variables
in streamer, to be measured:
trust in product utilitarian
and consumer’ value, hedonic
continuous purchasevalue,
inten-
social value, trust in streamer, trust in product and consumer’ continuous purchase inten-
tions. To ensure the validity of the scale, all the question items were designed by drawing
on previous studies and making modest modifications according to the research context
of this paper. The specific design of the scale questions is shown in Table A1; for the util-
itarian value dimension, we refer to the design of Sweeney and Soutar [37], Chiu et al. [14]
Sustainability 2023, 15, 4432 8 of 19

tions. To ensure the validity of the scale, all the question items were designed by drawing
on previous studies and making modest modifications according to the research context
of this paper. The specific design of the scale questions is shown in Table A1; for the utili-
tarian value dimension, we refer to the design of Sweeney and Soutar [37], Chiu et al. [14]
and Wongkitrunrueng [34] and focus on the authenticity of live streaming and the degree
of discount; for the hedonic value dimension, we refer to the design of Sweeney and
Soutar [37] and focus on the entertainment of live streaming; for the measurement of
social value dimension, we refer to Sweeney and Soutar [37] and Wongkitrunrueng [34],
focusing on the examination of social identity and self-consistency and the measurement
of trust in streamer dimension and trust in product dimension adapted from Gefen and
Straub [50] and Wongkitrunrueng [34]. Finally, the measure of consumers’ continuous
purchase intention was adapted from Dodds et al. [51] and Dubinsky et al. [52].
This study collected data using a questionnaire survey method. Due to the pandemic,
we distributed the questionnaire through the “Questionnaire Star” platform. The ques-
tionnaire consists of two parts. The first part is a survey of the basic characteristics of
the respondents, which is used to understand the behavioral characteristics of users who
participate in live-streaming shopping, including gender, age, occupation, education level
and the types of streamers they mainly watch. Considering that live-streaming e-commerce
is a relatively new marketing model, we set a question to exclude respondents who have
never had contact with live-streaming e-commerce. The second part is a specific scale
that measures the role of trust in the mechanism of consumers’ continuous purchasing
intention in live-streaming e-commerce, consisting of 30 measurement items. The scale uses
a Likert five-point scale, with integer values from 1 to 5 representing “strongly disagree” to
“strongly agree”. Participants were asked to recall their most memorable streamer and to
evaluate their experience based on their real-life experiences while watching the streamer’s
live-stream sales. We adjusted some statements based on pre-surveys and formed the
final questionnaire.
After the survey, a total of 328 questionnaires were collected. After eliminating ques-
tionnaires that had never been in contact with live-streaming e-commerce, were logically
inconsistent, had excessively long or short answer times, were repeated or had completely
identical answer options, 213 valid questionnaires were collected, with a valid response
rate of 64.94%.

4.2. Sample
The questionnaire was analyzed, and the sample characteristics statistics were obtained
as shown in Table 1. In terms of gender, 166 women (77.9%) made up the majority compared
to 47 men (22.1%). We speculate that the possible reasons for this were (1) women are more
keen on online shopping and therefore care more about this topic and therefore fill it out
more; (2) social software pushes relevant information to people who are already interested
in such topics, causing a greater imbalance in the gender ratio. Since the questions and
hypotheses in this study do not involve gender, we conducted a hypothesis test on the
male and female questionnaires separately and found that the results obtained were not
significantly different, so we put the male and female questionnaires together for analysis;
in terms of age and education, this questionnaire was mainly issued to the university
student group, so 18–25 years old accounted for the vast majority (90.1%), and those
with education above bachelor’s degree were also as high as 94.4%. As this research was
used for academic research, university students have a stronger acceptance and spending
power for LS, and the credibility of the completed questionnaire is higher. Monthly
income of less than CNY 3000 accounted for (84.5%). According to «The 50th China
Internet Network Development Statistics Report» released by CNNIC, the group of Internet
users between 20 and 50 years old accounted for 74.2%, while the age of Internet users
watching live broadcasts was even lower, and those who were willing to participate in
online questionnaires might also be mainly young people, so their income was relatively
low. In addition, most of the subjects (72.3%) mainly watched the live broadcasts of Internet
Sustainability 2023, 15, 4432 9 of 19

celebrities, indicating that Internet celebrity live broadcasts are favored by young people
and attract more traffic.

Table 1. Profiles of respondents.

Variable Category Frequency Percentage (%)

Male 47 22.07
Gender
Female 166 77.93
<18 13 6.10
18–25 192 90.14
Age
26–45 6 2.82
>45 2 0.94
Junior college and below 12 5.63
Education Undergraduate 171 80.28
Postgraduate 30 14.09
<3000 180 84.51
Income (CNY) 3000–6000 19 8.92
>6000 14 6.57

4.3. Reliability and Validity Analysis

The limitations of the questionnaire may lead to the existence of common method
bias (CMB). Therefore, a CMB test was conducted to ensure that participants were eligible
to complete the questionnaire. In this paper, we used Harman’s single-factor test and
exploratory factor analysis (EFA) together, and we included six variables in the EFA model.
The results of the EFA showed that the eigenvalues of all six factors were greater than 1.0,
and the percentage of variance explained by the first common factor was 36.185%, which
was less than 40%, so it can be concluded that there was no serious CMB in this study [53].
Reliability refers to the reliability of the scale, mainly for the purpose of measuring the
internal consistency of the questionnaire, and high consistency indicates high reliability
of the measurement scale. The index of reliability test is Cronbach’s α value; the higher
Cronbach’s α indicates the better scale design, higher reliability when it is greater than
0.8, and Cronbach’s α coefficient needs to consider redesigning the scale if it is below
0.6. In this paper, the data were tested for reliability by SPSS26.0, as shown in Table 2,
the Cronbach’s α values of all variables in all scales were greater than 0.7, the reliability
reached a good level, and the reliability of latent variables within the questionnaire was
good, which indicated that the scales in the questionnaire were more reliable.
The validity test can accurately measure the degree of response of the test results to
what is measured, so this study used factor analysis to examine the validity of the variable
question items in terms of content validity and structural validity. In terms of content
validity, the scales of this study are all modified and proposed based on the reference
to the research scales of domestic and foreign scholars’ literature, combined with the
live e-commerce context of this study, and also refer to the participation behaviors and
motivations mentioned by the in-depth users of live e-commerce in the in-depth interviews,
constantly modify the content and structure of the scales and measurement questions and
pass the reliability test of the pre-research; therefore, the scales of this study have better
content validity.
Sustainability 2023, 15, 4432 10 of 19

Table 2. Analysis of reliability and validity.

Construct Item Mean SD Loading Cronbach’s α CR AVE

UV1 3.286 0.843 0.689
UV2 3.365 0.871 0.703
Utilitarian
UV3 3.598 0.740 0.726 0.733 0.845 0.581
value
UV4 3.257 0.868 0.687
UV5 3.561 0.833 0.721
HV1 3.141 0.858 0.843
HV2 3.289 0.753 0.884
Hedonic
HV3 3.348 0.752 0.912 0.909 0.907 0.715
value
HV4 3.252 0.801 0.856
HV5 3.187 0.870 0.853
SV1 3.016 0.877 0.814
SV2 3.204 0.741 0.864
Social value SV3 3.313 0.770 0.912 0.883 0.882 0.675
SV4 3.189 0.725 0.854
SV5 3.226 0.822 0.873
TS1 3.284 0.874 0.931
TS2 3.138 0.881 0.886
Trust in
TS3 3.012 0.728 0.854 0.921 0.918 0.734
streamer
TS4 3.177 0.724 0.891
TS5 3.231 0.805 0.918
TP1 3.124 0.806 0.864
TP2 3.347 0.896 0.935
Trust in
TP3 3.279 0.791 0.911 0.939 0.935 0.746
product
TP4 3.226 0.780 0.893
TP5 3.312 0.832 0.928
CPI1 3.169 0.838 0.744
Continuous CPI2 3.236 0.856 0.812
purchase CPI3 3.285 0.894 0.857 0.875 0.873 0.643
intention CPI4 3.261 0.844 0.837
CPI5 3.314 0.875 0.906

In terms of structural validity, two data indicators, convergent validity and discrim-
inant validity, were used in this study for testing [54]. The average variance extraction
(AVE) and the combined reliability CR were used as the measures of convergent validity,
and the results are shown in Table 2. The analysis was conducted for a total of 6 factors
and 30 analysis items. From the data results, the AVE values of the six factors are greater
than 0.5, and the CR values are higher than 0.7, indicating that the data of this analysis
have good convergent (convergent) validity. By analyzing the discriminant validity, the test
results are shown in Table 3. The square root value of AVE corresponding to each factor is
greater than the correlation coefficient between factors, indicating that the research data
have good discriminant validity.
Table 3. Discriminant validity (Fornell–Larcker criterion).

UV HV SV TS TP CPI
UV 0.762
HV 0.619 0.846
SV 0.375 0.577 0.821
TS 0.520 0.495 0.640 0.857
TP 0.413 0.367 0.482 0.772 0.864
CPI 0.530 0.612 0.546 0.650 0.608 0.802
Note: Diagonal elements are the square root of average variance extracted.
Sustainability 2023, 15, 4432 11 of 19

4.4. Structural Equation Model Analysis

4.4.1. Direct Effects
In this study, AMOS26.0 was used to analyze the structural equation model (SEM) of
sample data and explore the relationship between research variables. The model fitting
index is used to judge the validity, and the model fitting index obtained by AMOS26.0
analysis is suitable for each index. The results are as follows: X2 /df = 2.869; RMSEA = 0.063;
CFI = 0.932; NFI = 0.903; RFI = 0.942; IFI = 0.938; TLI = 0.952. So, the model fitting validity
is good. The path coefficient of the model and its significance level and fitting path test
are shown in Table 4. The results show that utilitarian value positively affects trust in
streamers (β = 0.331, p < 0.01) and positively affects trust in products (β = 0.313, p < 0.01),
with H1a and H1b being supported. Hedonic value positively affects trust in streamer
(β = 0.311, p < 0.01); the correlation coefficient with trust in the product is not significant
(β = −0.033, p < 0.01). H2a is supported, but H2b is not supported by the results. Social
value positively influences trust in streamer (β = 0.522, p < 0.001) and positively influences
trust in the product (β = 0.382, p < 0.01). H3a and H3b are supported. Moreover, all three
perceived values are more correlated with trust in streamer than with trust in product.

Table 4. Path coefficients and hypotheses testing.

Hypothesis Path Path Coefficient S.E CR p Values Result

H1a UV → TS 0.331 ** 0.147 3.546 0.000 Supported
H1b UV → TP 0.313 ** 0.078 2.857 0.000 Supported
H2a HV → TS 0.311 ** 0.186 3.178 0.006 Supported
H2b HV → TP −0.033 0.083 0.865 0.283 Not
H3a SV → TS 0.522 *** 0.213 3.315 0.000 Supported
H3b SV → TP 0.382 ** 0.173 2.586 0.001 Supported
H4 TS → TP 0.777 *** 0.165 4.439 0.000 Supported
H5a TS → CPI 0.446 *** 0.084 3.919 0.000 Supported
H5b TP → CPI 0.264 ** 0.126 4.115 0.000 Supported
Note: ** p < 0.01; *** p < 0.001.

Trust in the streamer positively influences trust in the product (β = 0.777, p < 0.001);
H4 is verified. Trust in streamer positively influences consumers’ continuous purchase
intentions (β = 0.446, p < 0.001); H5a is verified. Trust in the product positively influences
consumer’s continuous purchase intention (β = 0.246, p < 0.01); H5b is verified. The
results of the structural equation model are shown as Figure 2.

4.4.2. Mediating Effects

To explore the effect of mediation between the two perceived trusts in the model,
this paper used the Process plugin compiled by Hayes to conduct a mediation effect
test on SPSS 26.0. A bootstrap procedure with 5000 samples was used to construct and
test the confidence interval for the mediation effect. The confidence interval was set
to 95%, and Model4 (simple mediation model) in the plugin was used to test the me-
diation effect of trust in streamer and trust in product between perceived value and
purchase intention. The results obtained are shown in Table 5. The mediating effect
of utilitarian value through trust in streamer on continuous purchase intention was
0.200 (Boot CI = [0.069,0.361]); the mediating effect of trust in product on continuous pur-
chase intention was 0.129 (Boot CI = [0.020,0.289]). The mediated effect value of hedonic
value influencing continuous purchase intention through trust in streamer was 0.119
(Boot CI = [0.023,0.219]). The mediating effect of social value through trust in streamer was
0.189 (Boot CI = [0.062,0.306]); the mediating effect of social value through trust in product
was 0.131 (Boot CI = [0.027,0.255]). None of the confidence intervals contained 0. Since
the three perceived value and continuous purchase intention main effect relationships
Sustainability 2023, 15, 4432 12 of 19
Sustainability 2023, 15, x FOR PEER REVIEW 12 of 19

existed, the two consumer trusts partially mediated the relationship between perceived
purchase intentions (𝛽 = 0.446, 𝑝 < 0.001); H5a is verified. Trust in the product posi-
value and continuous purchase intention. Moreover, trust in streamer has a higher mediat-
tively influences consumer’s continuous purchase intention (𝛽 = 0.246, 𝑝 < 0.01); H5b is
ing effect value than trust in product for all three perceived values affecting continuous
purchase The
verified. results of the structural equation model are shown as Figure 2.
intention.

Figure 2. The
Figure 2. The structural
structural equation
equation model. ** pp << 0.01;
model. ** *** pp <
0.01; *** 0.001.
< 0.001.

Table 5. Mediating effects of perceived trust.

4.4.2. Mediating Effects
To explore the effect of mediation between Standardthe two perceived trusts in
Bootstrap 95%theCImodel, this
Path Coefficient
paper used the Process plugin compiled by Hayes to conduct a mediation effectLimit
test on
Deviation Upper Limit Lower
SPSS 26.0. A bootstrap procedure with 5000 samples was used to construct and test the
UV → TS → CPI 0.200 0.075 0.069 0.361
confidence
UV → TP →interval
CPI for the mediation effect.
0.129 The confidence0.020
0.068 interval was set to 95%, and
0.289
Model4 (simple
HV → TS → CPI mediation 0.119model) in the plugin
0.050 was used to test
0.023 the mediation effect of
0.219
trust
HV → inTPstreamer
→ CPI and trust 0.102in product between 0.048 perceived value 0.023 and purchase intention.
0.209
SV →
The TS → CPI
results obtained are 0.189
shown in Table0.062 5. The mediating 0.062 0.306 value
effect of utilitarian
SV → TPtrust
through → CPIin streamer 0131 on continuous 0.058
purchase intention 0.027 was 0.200 0.255 (Boot CI =
[0.069,0.361]); the mediating effect of trust in product on continuous purchase intention
5.
wasDiscussion
0.129 (Boot andCI Conclusions
= [0.020,0.289]). The mediated effect value of hedonic value influencing
continuous
Based onpurchase
SOR theory, intention through
this paper trusta in
constructs streamer
model was 0.119
of consumer’s (Boot CI
continuous pur-=
[0.023,0.219]).
chase intentionThe
in LSmediating
e-commerce effect
withoftwo
social
typesvalue through perceived
of consumer trust in streamer was 0.189
trust as mediating
(Boot CI =measures
variables, [0.062,0.306]); the mediating
the mediating effect
effect of twoof social
types of value
consumer through
trusttrust
(trustininproduct was
the product
0.131trust
and (Boot
in CI
the=streamer)
[0.027,0.255]). Noneofofathe
by means confidence and
questionnaire intervals
drawscontained 0. Since
the following the three
conclusions
perceived
from value and continuous purchase intention main effect relationships existed, the
the study.
two First,
consumer trusts
the study partially
found mediated the
that consumers’ relationship
perceived between
utilitarian, perceived
hedonic and social value and
values
continuous
have purchase
a significant and intention. Moreover,
positive impact on theirtrust
trustin in
streamer
streamers.has Specifically,
a higher mediating effect
the utilitarian
value refers
value than trust
to thein streamers’
product forability
all three perceived
to meet values affecting
the consumers’ needscontinuous
for great dealspurchase
and
intention.shopping by providing low-price promotions and real-time display of products
authentic
during the live broadcast. The hedonic value refers to the entertainment activities, such
Table
as 5. Mediating
lottery and PK, effects
whichofare perceived
commonly trust.used by streamers to enhance the pleasure of the
shopping experience and strengthen consumers’ Standard Devi-
trust in them [55]. The social
Bootstrap 95% CIvalue, on the
other hand,Pathhas a greaterCoefficient
impact on trust in streamers Upperthan utilitarian andLower
hedonic
ation Limit Limitvalue.
ThisUVis because social value0.200
→ TS → CPI represents the0.075future benefits of perceived similarity
0.069 0.361between
UV → TPand
consumers → CPI
streamers. Streamers
0.129 can enhance
0.068 trust by creating
0.020 a sense of belonging
0.289 and
HV →for
identity → CPI
TS consumers in the0.119
LS e-commerce 0.050platform. By0.023 utilizing their unique 0.219personal
HV → TP
charisma and→ CPI 0.102
excellent marketing ability,0.048
streamers can bring 0.023 consumers closer 0.209 to each
SV → TS → CPI 0.189 0.062 0.062 0.306
other and ultimately improve their trust in the platform.
SV → TP → CPI 0131 0.058 0.027 0.255
Sustainability 2023, 15, 4432 13 of 19

Second, consumers’ perceived utilitarian and social values significantly and positively
influence trust in the product. The utilitarian value of products is obtained through good
value and after-sale guarantee, which can reduce the uncertainty of product purchase and
increase consumers’ trust in the product. Furthermore, consumers’ perceived social value
is positively related to their trust in products, as the consistency between the product’s
brand image and consumers’ self-concept image enhances consumers’ favorable perception
of the product and their level of trust, which is consistent with previous studies such as
Sarah et al. [56]. In contrast, the hedonic value has no direct influence on product trust, as
the entertainment activities in LS e-commerce are mainly planned by the streamer; thus, the
emotional trust generated from hedonic value perceived by consumers when watching the
live stream is often directed towards the streamer rather than the product itself. Therefore,
we conclude that perceived utilitarian, social and hedonic values have different impacts on
trust in LS e-commerce. Utilitarian and social values are important predictors of trust in
products, whereas social value has a greater impact on trust in streamers. Hedonic value is
more likely to generate emotional trust in streamers rather than in products.
Third, trust in the streamer significantly and positively influences trust in the product.
Based on Osgood and Tennenboum’s consistency theory, people have a drive to motivate
themselves to develop consistent perceptions and behaviors towards the object. When the
streamer they trust reviews and markets the product, out of trust in the streamer, consumers
will also trust the product in order to avoid any dissonance in their perceptions. This could
also explain the presence of a large number of celebrity endorsers in modern advertising
and the LS of celebrity weblebrities to lead the product.
Fourth, trust in the streamer and trust in the product mediate between perceived
value and a consumer’s continuous purchase intentions. LS e-commerce combines LS
with e-commerce, satisfying consumers’ utilitarian needs by virtue of its price advantage
over other shopping channels; it promotes emotional exchanges between streamers and
consumers through various entertainment activities and positive interactions, increasing
consumers’ hedonic value. In addition, the social identity of the on-air community and
the brand image of the product will increase the perceived social value. The increase in
perceived value reduces uncertainty and perceived risk in online shopping, making it
easier to build trusting relationships, and building trust can enhance consumer loyalty.
When consumers watch a live stream, they evaluate the streamer’s mannerisms, product
presentation and product experience. If consumers feel trust in the streamer and have a
good buying experience, they will increase their trust and loyalty to the streamer and the
product, thus increasing their willingness to continue buying.
Fifth, the trust of the streamer dominates the trust of consumers in LS e-commerce. The
results of this study also confirm the important role of trust in streamers in LS e-commerce.
LS e-commerce is similar to traditional e-commerce in terms of products, but the biggest
difference is that it uses the live broadcast format to act as a link between consumers and
companies. The streamer is the key opinion leader and salesperson who controls the entire
live broadcast and influences the consumer’s purchasing decisions. Therefore, trust in the
streamer has a greater impact on continuous purchase intention than trust in the product.

6. Research Implications
6.1. Theoretical Implications
With the development of LS e-commerce, the research on consumer purchase intention
in LS e-commerce has gradually become an emerging hot issue. In the context of LS
e-commerce, this study analyzes the influencing factors of consumers’ continuous purchase
intention. Specifically, this study has the following three contributions.
Firstly, this study verifies the mediating role of consumer trust between perceived
value and continuous purchase intention. The intermediary role of streamers and products
in LS e-commerce can significantly enhance consumers’ continuous purchase intention
because both can achieve the transmission of the three values well, and as shown in Table 5,
Sustainability 2023, 15, 4432 14 of 19

the intermediary effect of anchors is more obvious. This point can remind merchants to
focus on the cultivation of streamers.
Secondly, in recent years, some scholars have distinguished trust in the product from
trust in the streamer [57,58]. Wongkitrngrueng conducted a study based on this trust
division and found that trust in the product can positively and significantly affect trust
in the seller. However, given that the scale of LS e-commerce development abroad is too
small compared to China, the focus is on small individual sellers, which has considerable
limitations. The framework of this study extends previous research on online trust by sepa-
rating trust in the streamer from trust in the product and finds multiple ways in which both
trusts influence consumers’ continuous purchase intentions—trust in the streamer/product
to purchase intentions or trust in the streamer to trust in the product and then purchase
intentions, which may differ from the above studies. In addition, the antecedents of the two
types of trust are different, with utilitarian/hedonic/social values being associated with
trust in the streamer while utilitarian/social values are associated with trust in the product.
Thirdly, this paper quotes the consistency theory of Osgood and Tannenbaum [43] to
explain the relationship between the two types of trust, broadening the research perspective
of consumer trust. The consistency theory is often used in consumer behavior to explain
the presence of a large number of celebrity endorsers in modern advertising, while rarely
mentioned in the field of LS e-commerce.

6.2. Managerial Implications

The relevant findings of this paper provide the following insights for companies
conducting LS e-commerce marketing campaigns.
First, focus on the actual needs of consumers. The utilitarian value of consumers in
LS e-commerce is mainly concerned with price and authenticity. Price advantage is still
the key to winning, and users will always favor products with high cost performance.
Practice has proven that a large part of the reason why consumers choose live shopping
is its better prices than other channels. To achieve the same quality and low price, it is
necessary to further optimize the logistics management and reduce the logistics cost of the
enterprise through the screening, coordination and integration of the offline supply chain.
The centralized sale of goods during LS also reduces labor and inventory costs, allowing
for appropriate concessions to be made to consumers, so that they can feel the tangible
benefits of high-quality, low-priced products. In addition, the streamer should fully restore
the real shopping scene during the process of selling goods, highlighting the process of
displaying, trying and processing the products, creating a visual shopping experience for
consumers and enhancing their perceived trust in the products [59].
Second, design entertainment activities. Compared to the traditional online shopping
method of browsing static images and text, watching live broadcasts obviously takes more
time, and many viewers do not initially intend to shop and watch live broadcasts largely to
relieve stress and pass the time. Through the analysis, consumers’ perceived hedonic value
can significantly increase their trust in the streamer and thus their willingness to continue
purchasing. Therefore, the streamer needs to set up some entertaining activities to relieve
the viewers’ boredom and arouse the participation of these potential users. By creating a
happy viewing experience, it can inspire the consumers’ emotional trust in the streamer
and thus generate continuous purchase intention.
Third, strengthen the skills training and brand building of streamers. Streamers
should gradually establish their own LS style in the process, attracting loyal viewers
with their personal charm and forming private domain traffic. They should conform to
their own brand image when choosing goods to bring to market and accurately grasp
the needs of their target customers. Studies have shown that consumers prefer to be
supported by information from opinion leaders during LS [60], so it is important that
streamers have comprehensive information about the product. At the same time, streamers
should emphasize the similarity between themselves and their viewers when interacting
and communicating with them and reassure them that the products they offer will meet
Sustainability 2023, 15, 4432 15 of 19

their personal needs and group characteristics, further enhancing consumers’ sense of
belonging and identity, attracting and retaining them to subscribe to the live stream and
make continuous purchases.
Fourth, cultivate popular streamers and enhance the quality of products. Celebrity
streamers with social influence act as streamers, forming a quality endorsement effect
on the goods in the live broadcast room [61]. Due to the significant Matthew effect in
LS e-commerce, the head streamer has the bargaining power and occupies most of the
resources with goods. Therefore, enterprises should tilt some resources for outstanding
streamer talents and promote, market and build momentum for them to incubate popular
streamers. For general sellers, they can establish a good communication and interaction
mechanism with consumers in the live room, answer their questions and needs and make
them feel important and cared for. In addition, stars and streamers can be invited to bring
goods together in a timely manner. With their celebrity effect and influence, they can attract
a large number of new audiences to visit the live broadcast room, through the consumer
trust in the streamer to enhance the trust in the product, increasing the influence of the
product and turnover. At the same time, the key to sustainable purchases still depends
on the product, so businesses need to improve product quality, ensure product quality,
accumulate good product reputation, improve consumer trust in the product and maximize
the benefits of live streaming.

7. Limitations and Further Research

Our research has some limitations. Firstly, regional differences were not taken into
account in this study. The impact of regional differences on consumers’ willingness to con-
tinue purchasing remains unclear; therefore, the general applicability of the conclusions of
this paper deserves further investigation. Secondly, the survey sample of this study mainly
consisted of young students, who are more likely to accept new forms of e-commerce,
such as live-streaming e-commerce, due to their enthusiasm for online shopping. This
characteristic facilitates research on live-streaming e-commerce consumption. However,
consumers of different age groups may exhibit different behaviors when shopping through
live streaming. Future research can consider segmenting consumers by age group to gain a
more detailed understanding of their purchasing behavior. Finally, this paper regards au-
thenticity as one aspect of perceived value, as it not only relates to consumers’ expectations
and satisfaction with the product but also to their trust and recognition of the streamer and
live-streaming platform. However, it can also be viewed as a value related to honesty or
trust. We believe that authenticity in live-streaming e-commerce is indeed a complex issue,
involving both perceived utilitarian value and perceived trust value. We will delve deeper
into this issue and discuss it more comprehensively in future research.

Author Contributions: Methodology, Y.W.; Software, H.H.; Investigation, H.H.; Resources, Y.W.;
Data curation, H.H.; Writing—original draft, H.H.; Writing—review & editing, Y.W.; Supervision,
Y.W.; Funding acquisition, Y.W. All authors have read and agreed to the published version of the
manuscript.
Funding: This research was funded by the Heilongjiang Philosophy and Social Science Fund
No. 22GLE379, 2022 Harbin University of Commerce Innovation project support plan.
Institutional Review Board Statement: Not applicable.
Informed Consent Statement: Not applicable.
Data Availability Statement: Not applicable.
Conflicts of Interest: The authors declare no conflict of interest.
Sustainability 2023, 15, 4432 16 of 19

Appendix A

Table A1. Measurement items.

Construct Item References

UV1: Sellers who sell goods through LS look like
genuine merchants.
Sweeney and Soutar [37]
UV2: Products sold via LS appear to be authentic.
Utilitarian value Chiu et al. [14]
UV3: I think that the live product is good value for money.
(UV) Wongkitrunrueng and Assarunt [34]
UV4: I think the promotion for that live shopping is great.
UV5: Compared to other ways, I think shopping through
that live room is a better value and better deal.
HV1: The process of shopping on the LS made me
feel relaxed.
HV2: I enjoy live shopping.
Hedonic value Sweeney and Soutar [37]
HV3: I thought it was fun to shop through that live room.
(HV) HV4: I feel like time flies when shopping in that live room.
HV5: When shopping in that live room, sometimes I forget
my worries.
SV1: By shopping live, I feel very fashionable.
SV2: Interacting on air gives me a sense of identity.
Sweeney and Soutar [37]
SV3: Shopping via LS can make a good impression
Wongkitrunrueng and Assarunt [34]
Social value on others.
(SV) SV4: When shopping via LS, I can find products that match
my style.
SV5: I would love to tell my friends/acquaintances about
this live shopping.
TS1: I believe the information provided by the streamer
on air.
TS2: I believe the streamer is well-meaning and will
Gefen and Straub [50]
consider the basic interests of the buyer.
Trust in streamer TS3: I am comfortable buying the products recommended
(TS) by the streamer.
TS4: I believe the streamer is capable of handling online
transactions.
TS5: I believe that the products and services recommended
by the streamer are useful to everyone.
TP1: I believe that the products sold in that live room
are genuine.
TP2: I consider the quality of the products sold in this live
Wongkitrunrueng and Assarunt [34]
room to be reliable.
Trust in product TP3: I believe the product received was the same as the one
(TP) demonstrated on the LS.
TP4: I believe I will be very happy with the product
I receive.
TP5: I believe the products are backed by a comprehensive
after-sales guarantee.
CPI1: I would consider buying this product after watching
the live stream.
CPI2: I plan to continue to follow this e-commerce live in Dodds et al. [51]
Continuous the future. Dubinsky et al. [52]
Purchase intention CPI3: When I need it, I am willing to buy it directly from the
(CPI) live room.
CPI4: I prefer to buy the same items live.
CPI5: In the future I will be watching more LS e-commerce
to purchase items.
Sustainability 2023, 15, 4432 17 of 19

References
1. Yu, Z.; Zhang, K. The Determinants of Purchase Intention on Agricultural Products via Public-Interest Live Streaming for Farmers
during COVID-19 Pandemic. Sustainability 2022, 14, 13921. [CrossRef]
2. Cao, J.; Li, J.; Wang, Y.; Ai, M. The Impact of Self-Efficacy and Perceived Value on Customer Engagement under Live Streaming
Commerce Environment. Secur. Commun. Netw. 2022, 2022, e2904447. [CrossRef]
3. Yan, X.; Dong, Y.; Zhang, M.; Qiao, J. Research on the Impact of Live Broadcasting on Consumers’ Buying Behavior—Intermediate
by perceived value. Price Theor. Pract. Mag. House 2021, 6, 137–140. [CrossRef]
4. Mehrabian, A.; Russell, J.A. An Approach to Environmental Psychology; The MIT Press: Cambridge, MA, USA, 1974; pp. xii, 266.
ISBN 978-0-262-13090-5.
5. Donovan, R.; Rossiter, J. Store Atmosphere: An Environmental Psychology Approach. J. Retail. 1982, 58, 34–57.
6. Zhou, S.; Li, T.; Yang, S.; Chen, Y. What Drives Consumers’ Purchase Intention of Online Paid Knowledge? A Stimulus-Organism-
Response Perspective. Electron. Commer. Res. Appl. 2022, 52, 101126. [CrossRef]
7. Jones, T.O.; Sasser, W.E. Why Satisfied Customers Defect. Harv. Bus. Rev. 1995, 73–88. [CrossRef]
8. Lee, C.H.; Eze, U.C.; Ndubisi, N.O. Analyzing Key Determinants of Online Repurchase Intentions. Asia Pac. J. Mark. Logist. 2011,
23, 200–221. [CrossRef]
9. Zhao, L.; Liu, Z.; Xu, X.; Zhao, X. Empirical studies of repeat purchase intentions of online consumers based on the moderating
role of habit. J. Shenyang Aerosp. Univ. 2015, 32, 90–96.
10. Wang, W.-T.; Lu, C.-C. Determinants of Success for Online Insurance Web Sites: The Contributions from System Characteristics,
Product Complexity, and Trust. J. Organ. Comput. Electron. Commer. 2014, 24, 1–35. [CrossRef]
11. Huang, S.; Xiao, J.; Jin, Y. Study on the Influencing Factors of Consumers’ Continuous Buying Intention on Social E-Commerce
Platform Based on S-O-R Theory. Soft Sci. 2020, 34, 115–121. [CrossRef]
12. Zeithaml, V. Consumer Perceptions of Price, Quality and Value: A Means-End Model and Synthesis of Evidence. J. Mark. 1988,
52, 2–22. [CrossRef]
13. Sheth, J.; Newman, B.; Gross, B. Consumption Values and Market Choices: Theory and Applications. J. Mark. Res. 1992,
29, 487–489. [CrossRef]
14. Chiu, C.-M.; Wang, E.T.G.; Fang, Y.-H.; Huang, H.-Y. Understanding Customers’ Repeat Purchase Intentions in B2C e-Commerce:
The Roles of Utilitarian Value, Hedonic Value and Perceived Risk. Inf. Syst. J. 2014, 24, 85–114. [CrossRef]
15. Lin, K.-Y.; Lu, H.-P. Predicting Mobile Social Network Acceptance Based on Mobile Value and Social Influence. Internet Res. 2015,
25, 107–130. [CrossRef]
16. Holbrook, M.B.; Hirschman, E.C. The Experiential Aspects of Consumption: Consumer Fantasies, Feelings, and Fun. J. Consum.
Res. 1982, 9, 132–140. [CrossRef]
17. Rintamäki, T.; Kanto, A.; Kuusela, H.; Spence, M. Decomposing the Value of Department Store Shopping into Utilitarian, Hedonic
and Social Dimensions: Evidence from Finland. Int. J. Retail. Distrib. Manag. 2006, 34, 6–24. [CrossRef]
18. McKnight, D.H.; Chervany, N.L. What Trust Means in E-Commerce Customer Relationships: An Interdisciplinary Conceptual
Typology. Int. J. Electron. Commer. 2001, 6, 35–59. [CrossRef]
19. Li, Y. The Establishment and Impact of Trust Relationships in Live Band Communication. Youth J. 2021, 8, 44–45. [CrossRef]
20. Komiak, S.X.; Benbasat, I. Understanding Customer Trust in Agent-Mediated Electronic Commerce, Web-Mediated Electronic
Commerce, and Traditional Commerce. Inf. Technol. Manag. 2004, 5, 181–207. [CrossRef]
21. Lu, Y.; Zhao, L.; Wang, B. From Virtual Community Members to C2C E-Commerce Buyers: Trust in Virtual Communities and Its
Effect on Consumers’ Purchase Intention. Electron. Commer. Res. Appl. 2010, 9, 346–360. [CrossRef]
22. Zhou, L.; Fan, J. Shaping Trust: The Scene Framework and Emotional Logic of Live Online E-Commerce. J. Southwest Minzu Univ.
(Humanit. Soc. Sci.) 2021, 42, 142–147.
23. Babin, B.J.; Darden, W.R.; Griffin, M. Work and/or Fun: Measuring Hedonic and Utilitarian Shopping Value. J. Consum. Res. 1994,
20, 644–656. [CrossRef]
24. Chen, S.C.; Dhillon, G.S. Interpreting Dimensions of Consumer Trust in E-Commerce. Inf. Technol. Manag. 2003, 4, 303–318.
[CrossRef]
25. Ma, Z.; Ge, J.; Zhou, X. Understanding Antecedents of Live Video Stream Continuance Use and Users’ Subjective Well-Being via
Expectation Confirmation Model and Parasocial Relationships. J. Commun. Rev. 2020, 73, 29–46. [CrossRef]
26. Song, Z.; Liu, C.; Shi, R. How Do Fresh Live Broadcast Impact Consumers’ Purchase Intention? Based on the SOR Theory.
Sustainability 2022, 14, 14382. [CrossRef]
27. Gu, R.; Oh, L.B.; Wang, K. Developing User Loyalty for Social Networking Sites: A Relational Perspective. J. Electron. Commer.
Res. 2016, 17, 1. [CrossRef]
28. Weisstein, F.L.; Monroe, K.B.; Kukar-Kinney, M. Effects of Price Framing on Consumers’ Perceptions of Online Dynamic Pricing
Practices. J. Acad. Mark. Sci. 2013, 41, 501–514. [CrossRef]
29. Tao, P.; Wang, G.; Zhao, Y. An Empirical Study on the Effect of Perceived Value of Retailer’s Private Label on Purchase Intention.
Nanjing J. Soc. Sci. 2009, 09, 40–45.
Sustainability 2023, 15, 4432 18 of 19

30. Ma, H.; Mei, H. Empirical Research on the Decision-Making Influence Factors in Consumer Purchase Behavior of Webcasting
Platform. In Proceedings of the Twelfth International Conference on Management Science and Engineering Management,
Ontario, ON, Canada, 5–8 August 2019; Xu, J., Cooke, F.L., Gen, M., Ahmed, S.E., Eds.; Springer International Publishing: Cham,
Switzerland, 2019; pp. 1017–1028.
31. Lv, X.; Zhang, R.; Su, Y.; Yang, Y. Exploring How Live Streaming Affects Immediate Buying Behavior and Continuous Watching
Intention: A Multigroup Analysis. J. Travel Tour. Mark. 2022, 39, 109–135. [CrossRef]
32. Fazal-e-Hasan, S.M.; Lings, I.N.; Mortimer, G.; Neale, L. How Gratitude Influences Customer Word-Of-Mouth Intentions and
Involvement: The Mediating Role of Affective Commitment. J. Mark. Theory Pract. 2017, 25, 200–211. [CrossRef]
33. Yu, X.; Xu, Z. The Theoretical Model of Bullet Screen Users’ Participative Behavior in Network Broadcast PlatformBased on the
Perspective of Flow Theory. Inf. Sci. 2017, 35, 147–151. [CrossRef]
34. Wongkitrungrueng, A.; Assarut, N. The Role of Live Streaming in Building Consumer Trust and Engagement with Social
Commerce Sellers. J. Bus. Res. 2020, 117, 543–556. [CrossRef]
35. Herzallah, D.; Muñoz Leiva, F.; Liébana-Cabanillas, F. To Buy or Not to Buy, That Is the Question: Understanding the Determinants
of the Urge to Buy Impulsively on In-stagram Commerce. J. Res. Interact. Mark. 2021, 16, 477–493. [CrossRef]
36. Jia, X. Exploring Consumers’ Purchase and Engagement Intention on E-Commerce Live Streaming Platform. Ph.D. Thesis, Beijing
University of Posts and Telecommunications, Beijing, China, 2019.
37. Sweeney, J.C.; Soutar, G.N. Consumer Perceived Value: The Development of a Multiple Item Scale. J. Retail. 2001, 77, 203–220.
[CrossRef]
38. Kalia, P.; Zia, A.; Kaur, K. Social Influence in Online Retail: A Review and Research Agenda. Eur. Manag. J. 2022; in press.
[CrossRef]
39. Arrieta, B.U.; Peña, A.P.; Medina, C.M. The Moderating Effect of Blogger Social Influence and the Reader’s Experience on Loyalty
toward the Blogger. Online Inf. Rev. 2018, 43, 326–349. [CrossRef]
40. Hung, S.-W.; Cheng, M.-J.; Lee, C.-J. A New Mechanism for Purchasing through Personal Interactions: Fairness, Trust and Social
Influence in Online Group Buying. Inf. Technol. People 2021, 35, 1563–1589. [CrossRef]
41. Meng, L.; Liu, F.; Chen, S.; Duan, K. Can I Evoke You? A Study on the Influence Mechanism of Information Source Characteristics
of Different Types of Live Broadcasting Celebrity on Consumers’ Willingness to Purchase. Nankai Bus. Rev. 2020, 23, 131–143.
42. Wu, W.; Tsai, C. The Empirical Study of CRM: Consumer-company Identification and Purchase Intention in the Direct Selling
Industry. Int. J. Commer. Manag. 2007, 17, 194–210. [CrossRef]
43. Osgood, C.E.; Tannenbaum, P.H. The Principle of Congruity in the Prediction of Attitude Change. Psychol. Rev. 1955, 62, 42–55.
[CrossRef]
44. Wang, Y.; Lu, Z.; Cao, P.; Chu, J.; Wang, H.; Wattenhofer, R. How Live Streaming Changes Shopping Decisions in E-Commerce:
A Study of Live Streaming Commerce. Comput. Support. Coop. Work. 2022, 31, 701–729. [CrossRef]
45. Qing, C.; Jin, S. What Drives Consumer Purchasing Intention in Live Streaming E-Commerce? Front. Psychol. 2022, 13, 938726.
[CrossRef]
46. Liu, P.; Shi, Y. Research on the Influencing Mechanism of Live Broadcasting Marketing Pattern on Consumers’ Purchase Decision.
China Bus. Mark. 2020, 34, 38–47. [CrossRef]
47. Tsai, J.C.-A.; Hung, S.-Y. Examination of Community Identification and Interpersonal Trust on Continuous Use Intention:
Evidence from Experienced Online Community Members. Inf. Manag. 2019, 56, 552–569. [CrossRef]
48. Jarvenpaa, S.L.; Tractinsky, N.; Vitale, M. Consumer Trust in an Internet Store. Inf. Technol. Manag. 2000, 1, 45–71. [CrossRef]
49. Macdonald, E.K.; Sharp, B.M. Brand Awareness Effects on Consumer Decision Making for a Common, Repeat Purchase Product:
A Replication. J. Bus. Res. 2000, 48, 5–15. [CrossRef]
50. Gefen, D.; Straub, D.W. Consumer Trust in B2C E-Commerce and the Importance of Social Presence: Experiments in e-Products
and e-Services. Omega 2004, 32, 407–424. [CrossRef]
51. Dodds, W.B.; Monroe, K.B.; Grewal, D. Effects of Price, Brand, and Store Information on Buyers’ Product Evaluations. J. Mark.
Res. 1991, 28, 307–319. [CrossRef]
52. Chen, Z.; Dubinsky, A.J. A Conceptual Model of Perceived Customer Value in E-Commerce: A Preliminary Investigation. Psychol.
Mark. 2003, 20, 323–347. [CrossRef]
53. Podsakoff, P.M.; MacKenzie, S.B.; Lee, J.-Y.; Podsakoff, N.P. Common Method Biases in Behavioral Research: A Critical Review of
the Literature and Recommended Remedies. J. Appl. Psychol. 2003, 88, 879–903. [CrossRef] [PubMed]
54. Kalia, P. Service Quality Scales in Online Retail: Methodological Issues. Int. J. Oper. Prod. Manag. 2017, 37, 630–663. [CrossRef]
55. Li, M.; Wang, Q.; Cao, Y. Understanding Consumer Online Impulse Buying in Live Streaming E-Commerce: A Stimulus-Organism-
Response Framework. Int. J. Environ. Res. Public Health 2022, 19, 4378. [CrossRef]
56. Sarah, S.; Sobari, N. The Effect of Live Streaming on Purchase Intention of E-Commerce Customers. In Proceedings of the
International Conference on Family Business and Entrepreneurship, Online, 2 June 2022; Volume 3. [CrossRef]
57. Hidayanto, A.N.; Ovirza, M.; Anggia, P.; Budi, N.F.A.; Phusavat, K. The Roles of Elec-tronic Word of Mouth and Information
Searching in the Promotion of a New E-Commerce Strategy: A Case of Online Group Buying in Indonesia. J. Theor. Appl. Electron.
Commer. Res. 2017, 12, 69–85. [CrossRef]
58. Pappas, N. Marketing Strategies, Perceived Risks, and Consumer Trust in Online Buying Behaviour. J. Retail. Consum. Serv. 2016,
29, 92–103. [CrossRef]
Sustainability 2023, 15, 4432 19 of 19

59. Ma, L.; Gao, S.; Zhang, X. How to Use Live Streaming to Improve Consumer Purchase In-tentions: Evidence from China.
Sustainability 2022, 14, 1045. [CrossRef]
60. Mao, Z.; Du, Z.; Yuan, R.; Miao, Q. Short-Term or Long-Term Cooperation between Retailer and MCN? New Launched Products
Sales Strategies in Live Streaming e-Commerce. J. Retail. Consum. Serv. 2022, 67, 102996. [CrossRef]
61. Wang, W.; Huang, M.; Zheng, S.; Lin, L.; Wang, L. The Impact of Broadcasters on Consumer’s Intention to Follow Livestream
Brand Community. Front. Psychol. 2022, 12, 6707. [CrossRef] [PubMed]

Disclaimer/Publisher’s Note: The statements, opinions and data contained in all publications are solely those of the individual
author(s) and contributor(s) and not of MDPI and/or the editor(s). MDPI and/or the editor(s) disclaim responsibility for any injury to
people or property resulting from any ideas, methods, instructions or products referred to in the content.