Research on the Impact of E-commerce Live Broadcast on Consumer Purchase Behavior under Perceived Value

. With the advent of the Internet era, the new mode of live delivery of e-commerce has gradually entered the view of the audience. Live shopping through its strong interactivity, accurate transmission, content diversiﬁcation, Quickly become the hottest online shopping mode. In this paper, through the relevant research on the impact of the live broadcast on on purchase behavior, a theoretical model reﬂecting live broadcast characteristics, perceived value and consumer purchase behavior is constructed and empirical research is carried out. The results show that the popularity, interactivity and personalized service of anchors in webcasts positively a ﬀ ects consumer purchase behavior; perceived value plays an intermediary


Introduction
With the popularity and rapid development of the Internet, people's work, study and life are closely linked. The new Internet technology has led to the rapid development of live broadcast e-commerce across urban and rural, age and other obstacles. According to the 'China Internet Network Development Statistics Report' released by the China Internet Network Information Center, as of December 2020, the number of live webcast users in China reached 617 million, accounting for 62.4% of the total Internet users. Among them, the scale of live e-commerce users is 388 million, accounting for 39.2% of Internet users [1].With the development of a new generation of information technology and the continuous spread of the global novel covid-9 epidemic and the normalization of epidemic prevention and control in China, many enterprises choose to carry out online live broadcast to drive product sales; the anchor presented characteristic agricultural products to consumers through live broadcast, which promoted the development of local industries [2]. Therefore, with the continuous expansion of e-commerce groups, its main body has become more and more diverse.
The live webcast industry has gradually entered people's vision since 2015, and the entertainment live broadcast of mobile clients has sprung up. By 2016, the live webcast has been continuously developed, causing many entrepreneurs to invest and compete fiercely. By 2017, a single live content has been unable to attract people's attention, businesses began to pay attention to the diversity of content, positioning to rely on content to gain competitive advantage. By 2018, it entered the stage of commercial exploration, looking for the needs of consumers as an entry point, relying on live broadcast channels to promote goods to consumers. According to the research and analysis results of Research users, consumers who watch the live broadcast generally have a positive attitude towards the marketing behavior that occurs during the live broadcast, and most of them have the purpose of consumption when watching live broadcast [3].At present, with the development of e-commerce, the competition between B2C e-commerce websites is becoming more and more fierce. E-commerce enterprises are also trying to use various methods to increase publicity, enhance the popularity of goods, and meet the diverse needs of users. It is composed of live broadcast platform, online shopping anchor, goods and consumers. According to the needs of consumers, the anchor shows them the attributes of the goods through live broadcast, which improves consumers' interest in the goods. This is a new form of sales. Online shopping live broadcast is a new shopping method that integrates entertainment, interaction and e-commerce. Compared with common e-commerce online shopping, the online shopping live broadcast process is highly interactive. Online shopping live has the following advantages : First, the audience is more extensive, consumers can get interested goods by watching many shopping live to meet their own needs. Second, the interaction between online shopping anchors and consumers is very strong. Through live interaction and communication, online shopping anchors can pay attention to consumers' problems and needs in real time, quickly answer consumers' questions and meet their needs. At the same time, through some interactive games, such as giving coupons to a certain number of likes, giving benefits to the top three lucky consumers in the countdown three-second screenshot of the interactive area, these activities can enhance customer stickiness and gain more fans. Third, a more comprehensive display of goods, e-commerce shopping and offline store shopping compared to the biggest drawback is that consumers can not close contact and observation of goods. On the basis of e-commerce shopping, online shopping live broadcast add live broadcast elements, which allows consumers to further watch the real seller show through lens, and obtain more commodity information more intuitively.
Through the shot lens, the consumers can further watch the real seller show and obtain more product information more intuitively. Fourth, to attract customers for the enterprise. Online shopping live broadcast is an important platform for promoting corporate goods. It can attract more consumers' attention, let more people know the company's goods, and bring greater traffic to the company. As early as 1940, DuPont researchers first proposed the term impulsive buying behavior, and many scholars have conducted in-depth research on it. Adelaar et al. showed that impulse buying exists in online shopping environment. Verhagen and Dolen further pointed out that about 40% of online shopping comes from impulsive buying [4].Compared with offline shopping, consumers are more likely to have impulsive buying behavior in the online shopping environment because of the convenience of payment, website characteristics, promotional activities and other factors [5].
Based on this, this study takes e-commerce live broadcast as the research object, combines the characteristics of e-commerce live broadcast, takes perceived value as the mediating variable, and explores the impact of perceived value on customers' purchase intention through document analysis, questionnaire and data analysis. From the perspective of perceived value, on the one hand, the empirical research on perceived value is extended to the e-commerce live broadcast market, enriching the academic research results of perceived value; on the other hand, it provides a theoretical reference for the further development of e-commerce live broadcast.

Related Literature Rview
E-commerce as a new sales model is not only sought after by the entity sector, academia has also carried out a lot of research, this article.
Xiong et al. took the e-commerce of agricultural products as the research object, divided the freight anchor into a credible third-party subject and a general subject, and demonstrated the formation mechanism of consumer trust in the live broadcast process [6]. Live broadcast subject presents a diversified development trend. Yang et al. pointed out that the matching between the live broadcast subject and the product will affect the consumer's purchase behavior, and the adapted product spokesperson will affect the consumer's perception of the product characteristics, which in turn affects their purchase preference [7]. Gu found that the quality, price advantage, personal charm and interactivity of e-commerce live content affects consumers' purchasing decisions [8].
Regarding the characteristics of live broadcast and the impact of delivery: Maria et al. found that the personal attractiveness of the anchor during live broadcast and the interaction between the anchor and consumers has a significant impact on consumers' willingness to watch [9]. Gong et al. found that the atmosphere cues of the live broadcast platform have a positive impact on consumers' impulse consumption intention [10]. Meng et al. found through in-depth interviews that live web celebrity stimulates consumers' purchase intention through information source characteristics such as professionalism, interactivity and attraction [11].
Yang et al. found that online live shopping features such as interactivity, authenticity and visibility affect consumers' purchase behavior through intermediaries such as pleasure and trust [12]. Xu et al. found that live broadcast interactivity, entertainment and business services has a positive impact on clothing consumers' impulse purchase intention, and perceived arousal and perceived pleasure plays an intermediary role between live broadcast characteristics and clothing purchase intention [13]. Zhu and Huang found that the perceived experience and perceived practical of live delivery platforms positively affect consumers' purchase intention [4]. Huang et al. found that the interactivity and attractiveness of the anchor has a positive impact on the audience's impulse purchase intention, and the immersive experience and satisfaction of the live audience plays a partial mediating role between the two. The product characteristics such as the price and attributes of the goods and the live broadcast process of the cargo subject will have a certain impact on the purchase behavior of consumers [14].
The factors that affect consumers' impulsive buying behavior can be classified into three categories, namely marketing stimulus factors, situational factors and individual factors. The marketing stimulus factors include commodity prices, promotional discounts; situational factors include consumer disposable time and money, sales atmosphere, touch, service interaction; individual factors include impulsivity. Quality, self-control, shopping pleasure, popular involvement. Commodity prices and promotional discounts are the main content of marketing incentives, including the level of commodity prices. It can affect consumers' impulsive buying behavior. In general, compared with No pricing goods, priced goods can attract consumers' attention. Promotional discounts can further induce consumers to have impulsive buying behavior. For example, time-limited price reduction promotions and discounts will make consumers not buy the product, and there will be a loss of psychology, thus accelerating their purchase behavior [15].
Can induce consumers to produce impulse buying behavior, such as TB store's Double Twelve Shopping Carnival is a promotional activity starting from 12 pm. In addition, offline clothing stores encourage consumers to try on and compare various clothing, which can consume consumers' energy. According to consumers' preferences, service personnel can select and match them warmly and thoughtfully, which can enhance customers' sense of experi-ence and substitution, and stimulate consumers' purchase behavior. Shopping enjoyment is a sense of entertainment and pleasure experienced by consumers in the process of shopping or browsing goods. This feeling will have a positive impact on consumers' purchase behavior. Popular involvement, also known as popular involvement, is the degree of consumers' interest in popular goods. Generally, female consumers pay more attention to some fashion information than male consumers, and are more likely to produce conformity purchase, that is, impulsive purchase behavior. At the same time, popular involvement and impulsive traits is interrelated and influence each other. Popular goods with high involvement are more likely to arouse the impulsive characteristics of consumers, prompting consumers to follow the trend and buy the popular goods. On the other hand, more sales of goods more easily into the public view, further promote other consumers to buy the goods [16].
ohs et al. In order to, the live broadcast platform should make full use of the 'celebrity' effect of the anchor in operation. The anchor should also respond to consumer comments in a timely manner during the live broadcast. Information, enhances interaction. Compared with traditional channels, live webcasts increase consumption. The interaction between the payer and the anchor will affect consumers' product characteristics [17].
This paper attempts to construct a theoretical model reflecting live broadcast characteristics, perceived value and consumer purchase behavior, and study the influence of live broadcast characteristics of live broadcast subjects on perceived value and the mediating role of perceived value between live broadcast characteristics and consumer purchase behavior, so as to enhance consumer perceived value and further enhance consumer purchase behavior.

Theoretical Analysis of the Influence on Consumer Purchase Behavior
Live streaming makes products more real and vivid. The popularity of anchors, personalized services and real-time interaction with consumers during live streaming will affect consumers' perception of product characteristics, thus allowing consumers to have higher perceived value. The research framework of this paper is shown in the figure 1. Through figure 1, we can know that the four aspects of live broadcast characteristics, popularity, interactivity, and personalized service affect the customer's perceived value of the webcast and then affect the purchase intention through the strong or weak perceived value. Next, the paper will analyze live broadcast characteristics, popularity, interactivity, and personalized service.
Consumers through live delivery to understand the goods, live delivery process of promotion and atmosphere will promote the improvement of consumer perceived value, thus promoting consumer purchase intention. In particular, the popularity of the anchor, the interaction between live broadcasts, and the personalized service of live delivery has a great impact on the improvement of consumer perceived value. Some scholars believe that the popularity of e-commerce anchors is linked to their influence in the field of carrying goods. High-profile anchors generally gain the attention of larger fan groups and have more resources, making them more advantageous in obtaining information such as product functions and prices, thus bringing consumers more valuable e-commerce live broadcasts. ohs et al. believed that the live broadcast platform should make full use of the celebrity effect of the anchor in its operation, and the anchor should also respond to consumer comments in a timely manner during the live broadcast process to enhance interaction. Compared with traditional channels, live webcast increases the interaction between consumers and anchors, which will affect consumers' perception of product characteristics and is more conducive to product marketing. The higher the popularity of the anchor, the more people watching the live broadcast; the higher the interaction between live broadcast, the more consumers can gain trust; the more personalized services in live delivery can meet the segmentation needs of consumers, the higher the perceived value of consumer.
Based on this, this paper proposes the following hypothesis. Hypothesis 1. The popularity of live broadcasters positively affects consumer perceived value.
Hypothesis 2. Interaction between live broadcasters and consumers positively affect consumer perceived value Hypothesis 3. Personalized service of live broadcasters positively affects consumer perceived value.
Hypothesis 4. The perceived value of consumers participating in live streaming has a positive impact on their purchase behavior.
Perceived value plays an important role between anchor characteristics and consumer purchase behavior. An anchor can influence consumers' cognition of products with its popularity, interactivity and personalized service, and through the interaction with consumers during live broadcast, the design and quality of products can be displayed intuitively, so that consumers can feel the value of products; when consumers feel that product attributes have certain value to them, their tendency to purchase products will increase. It can be inferred that the characteristics of the anchor stimulate consumers' purchasing behavior by perceiving the value of the product, that is, perceived value plays an intermediary role between the two.
Through the above research, this paper proposes the following hypothesis : Hypothesis 5. Perceived value plays a mediating role between popularity and purchase behavior.
Hypothesis 6. Perceived value mediates between interactivity and purchasing behavior. Hypothesis 7. Perceived value starts between personalized service and purchasing behavior.

Questionnaire Design and Variable Measurement
The questionnaire designed in this paper includes two parts: the first part is the basic information of consumers (respondents) participating in live streaming; the second part is to describe the characteristics of live delivery, perceived value, purchase behavior related items. Live features, perceived value and purchase behavior of the three scales are used Likert 5 scale, from 1 to 5 represent 'completely disagree' to 'completely agree', see table 1.

Data Collection and Sample Statistical Analysis
The questionnaire survey in this paper was conducted from July 5, 2022 to September 15, 2022. First, a pre-survey was conducted on 100 respondents, and the pre-survey results were analyzed and modified to obtain the final questionnaire. A total of 650 questionnaires were distributed and 598 questionnaires were recovered, with a recovery rate of 92%. After eliminating the online platform questionnaire with a length of less than one minute and incomplete answers, 570 valid questionnaires were obtained, with an effective rate of 88%. The anchor I watch has more popularity and attention in the industry. The anchors I watch have some success in the industry.
Interactive I am interested in interacting with the anchor through barrage comments. The live content I watch allows me to participate effectively.
Personalization service I am satisfied with the quality of the anchor service. Shopping live makes me feel good (emotional). I think the anchor can recommend products that meet my requirements. I am satisfied with the product logistics service recommended by the anchor.

Mediator variable Perceived vaule
I am satisfied with the after-sales service of the product recommended by the anchor. Good quality of products purchased through llive steamming(price). I will recommend the products purchased by live broadcast to friends(society). Good price for products purchased via live streaming(price).

Dependent variable Behavior in Live
Consumer Purchase in live delivery I will buy goods while watching the live broadcast.
I am willing to pay attention to or buy related products recommended by the anchor.
After statistical analysis of the valid questionnaires, the basic situation of the respondents is shown in table 2. It can be seen from table 2 that among the respondents, female and male respondents accounted for 67.89% and 32.11% respectively, and there were relatively more female respondents, indicating that there were more women in the crowd watching live broadcasts. In terms of age distribution, the proportion of tested people aged 19-25 years old reached 63.16%, the proportion of 26-30 years old and 31-40 years old was 20.7% and 12.98%, respectively, indicating that the majority of people watching live delivery were young groups. They have a greater awareness of live delivery; in terms of education level, college and undergraduate education is the most, accounting for 43.86%, high school and below and master's degree and above accounted for 32.11% and 24.04% respectively; in terms of occupational distribution, students accounted for 51.58%, and employees in enterprises and institutions accounted for 35.09%.

Reliability and Validity Test
Firstly, this paper analyzes the reliability of the questionnaire through SPSS26. The results show that the α values of popularity, interaction, personalized service, perceived value and purchase behavior are between 0.774 and 0.891, all greater than 0.7, indicating that the scale has good reliability. The overall KMO value is 0.89 greater than 0.7. Bartlett's Sphericity test Sig value is 0.000, less than 0.001, two tests. The results show that the correlation between variables is strong, suitable for factor analysis.
In this paper, Amos26.0 is used to analyze the confirmatory factor and reliability of each variable. The results are shown in table 3 The factor load of each item is greater than 0.6, indicating that the observed variables explain the latent variables well. The combined reliability of Cronbach's α and CR for each latent variable was greater than 0.8. Description with good reliability and reliability shows that the AVE of all latent variables has good reliability and reliability.

Hypothesis Testing
Firstly, with the help of software Amos26.0, the structural equation model is constructed according to the research hypothesis to verify the model fitting. The results are shown in table 4. It can be seen from table 4: CMIN/DF is 2.253, between 1-3; the RMR value is 0.022, indicating that the model fits well with the actual sample data. In addition, the GFI and RFI values in the model. All are greater than 0.9, NFI, IFI, TLI, CFI values are greater than 0.95, indicating that the model fitting effect is ideal, fit to achieve a better level.
Secondly, the significance and the direct causal relationship between variables tested. The data analysis results of the structural equation model are shown in table 5. As can be seen from table 5: well-known interactive personalized service has a significant positive impact on perceived value. Suppose that H1, H2 and H3 all holds. Perceived value has a significant positive effect on purchase behavior. Assuming that H4 is established, the path coefficients of popularity, interactivity and personalized service are 0.073,0.116 and 0.663 respectively, indicating that the degree of influence of the three on perceived value is personalized service, interactivity and popularity.
Finally, the Bootstrap method is used to test the mediation path between live streaming features and purchase behavior. The results are shown in table 6.
From table 6, we can see that visibility, interactivity and personalized services can affect purchase behavior through perceived value, assuming that H5, H6 and H7 are established. The indirect influence of the three variables of live broadcast characteristics on consumer purchase behavior is 0.297, 0.295 and 0.407 respectively. It can be seen that the degree of influence of live broadcast characteristics on consumer purchase behavior is personalized service, popularity and interactivity.

Enlightenment and Shortcomings
This paper constructs live broadcast characteristics, perceived value and consumer purchase. The theoretical model of behavior empirically analyzes the live broadcast characteristics, perceived value and The relationship between purchase behavior. The results show that consumers ' purchase behavior is affected by the characteristics of live broadcast, and the degree of influence is personalized service, popularity and interactivity. Perceived value plays an intermediary role between live broadcast characteristics and purchase behavior, and the influence degree of live broadcast characteristics on perceived value is personalized service, interactivity and popularity in turn. Personalized service has a significant impact on perceived value and purchase behavior. Based on the research conclusions, the following suggestions are made: (1) improve the quality of anchor service to enhance consumers' perceived value of shopping. Anchors should focus on introducing the enterprises and brands they represent, and the content of product quality information such as "two products and one standard" certification logo, so as to enhance consumers' ability to identify product quality levels and improve consumers' trust. It is necessary to strengthen the real-time interaction with consumers during the live broadcast process, increase consumers' sense of participation, and increase consumers' willingness to purchase.
(2) Improve the quality of logistics services to enhance consumer shopping experience. For the live broadcast platform (e-commerce enterprises), on the one hand, it is necessary to optimize the choice of third-party logistics enterprises, cooperate with high-quality logistics companies, and improve the refinement and efficiency of delivery products; on the other hand, it is necessary to strengthen the training of customer service personnel, strengthen communication with consumers, try to be timely, accurate and enthusiastic, and improve the shopping experience of consumers, so as to improve the purchase intention of consumers.
(3) Improve the quality of after-sales service to protect customer rights. For live broadcast platform (e-commerce enterprises) shopping early to pay attention to the main body of goods.
The shortcomings of this paper: the selection of samples mainly come from passers-by and We Chat friends, so the research conclusions will be affected by the incomplete sample range to a certain extent; the research object is a questionnaire based on the shopping experience of watching live broadcast. Considering that individuals may not be able to recall the details of watching live broadcast, there may be deviations in the perception of perceived value. In addition to overcoming deficiencies, future research can also study the formation mechanism of impulse buying in live marketing selling different types of goods; the influence of the personality factors of the anchor, such as the language skills of the anchor, on the purchase behavior; the live broadcast features are divided into different dimensions for deeper research.