直播电商中主播特性对消费者购买意图的影响机制研究——基于感知价值与感知风险的双路径视角

The Influence Mechanism of Influencer Characteristics on Consumers’ Purchase Intention in Live Streaming E-commerce：A Dual-Path Perspective Based on Perceived Value and Perceived Risk

With the rapid development of live streaming e-commerce, influencers have become increasingly important in shaping consumers’ decision-making processes. Based on the Stimulus–Organism–Response (S-O-R) framework, this study constructs a dual-path model to examine the impact of influencer characteristics on consumers’ purchase intention, with perceived value and perceived risk serving as mediating variables to reveal the underlying mechanisms. Using structural equation modeling on 412 valid questionnaires collected from consumers with live streaming shopping experience, the results show that authenticity, informativeness, attractiveness, and entertainment of influencers all have significant positive effects on purchase intention. Among them, authenticity exerts the strongest indirect effect through enhancing perceived value, while attractiveness shows the most significant mediating effect through reducing perceived risk. In addition, informativeness and entertainment indirectly promote consumers’ purchase decisions by influencing perceived value and perceived risk to varying degrees. This study further confirms the applicability of the dual psychological mechanism of “value enhancement–risk reduction” in the context of live streaming e-commerce and extends the research perspective on influencer characteristics in consumer behavior. The findings not only enrich the theoretical framework of live streaming e-commerce and consumer decision-making but also provide practical implications for firms in influencer selection, training, and content optimization.

随着直播电商的快速发展，主播在消费者决策中的作用日益凸显。本文基于S-O-R 理论，构建主播特性对消费者购买意愿的双路径模型，以感知价值与感知风险为中介变量，以揭示其内在的作用机制。通过对412 份具有直播购物经验的消费者问卷进行结构方程模型分析，结果表明：主播的真实性、信息性、魅力性和娱乐性均对消费者购买意愿产生显著正向影响；其中，真实性通过提升感知价值的中介作用最强，魅力性通过降低感知风险的中介作用最显著。此外信息性与娱乐性亦通过不同程度影响感知价值和感知风险，间接促进消费者的购买决策。本研究进一步验证了“价值提升—风险降低”的双重心理路径在直播电商情境中的适用性，拓展了主播特性在消费者行为领域的研究视角。研究结论不仅丰富了直播电商与消费者决策机制的理论体系，也为企业在主播选择、培训及内容优化方面提供了有针对性的实践启示。