ASSESSING THE ROLE OF PERCEIVED VALUE ON PURCHASE INTENTION ON LIVESTREAM PLATFORMS Minh Anh Tran Gia Dinh University, Vietnam minhta01@giadinh.edu.vn Abstract E-commerce livestreaming is one of the fastest-growing types of commerce today. Along with the development of the IT industry, wireless networks covering the whole country with low capacity costs have led to the strong growth of livestreaming activities. This article evaluates the factors affecting consumers' purchase intention through e-commerce livestreaming and examines the mediating role of perceived value in those relationships. The data were collected from April to June 2021 with 217 valid questionnaires. The results show that the components of perceived value (functional and emotional) positively mediate the relationship between interactivity, content, entertainment, opinion leader and promotion and purchase intention. As a result, entertainment has the most substantial impact on perceived emotional value, and content has the most decisive effect on perceived functional value. In contrast, promotions had the lowest impact on perceived functional and emotional value. This surprising outcome shows the difference between E-commerce livestreaming and other forms. Key Words Livestream; perceived value; purchase intention; interactivity; entertainment. Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 84 INTRODUCTION Livestreaming is a form of online communication and transmission method that collects, releases, and views video information simultaneously in real time on the internet (Wang, 2017). Along with the development of the IT industry, wireless networks covering the whole country with low capacity costs have led to the strong growth of livestreaming activities. Therefore, an increasing number of livestreaming platforms with superior features attract a growing number of consumers. In recent years, the livestream has been continuously improved with increasingly diversified content and rapid development. Many industries today, such as education, games, finance, and sports, use livestream tools to reach consumers. E-commerce platforms, video-sharing platforms and short video platforms have launched livestream features to use the advantages of livestreaming to attract users. Some famous stores in livestream e-commerce, such as Jessica Alba's The Honest Company (on Amazon Live), Wayfair (on YouTube), and The Fresh Market, show that this business form has excellent potential. E-commerce livestreaming is one of the fastest-growing types of commerce today. It combines livestreaming and e-commerce to sell products during online streaming (Wang, 2017). Kang et al. (2021) argue that e-commerce livestreams are a form of e-commerce, with the primary marketing tool being live broadcasts. In e-commerce livestreaming, the master of ceremonies (MC) can interact in real time with the audience (Hou et al., 2019). Therefore, e-commerce livestreaming has advantages over traditional e-commerce in terms of interactivity and conversion rate (Xu et al., 2021). E-commerce livestreaming gathers consumers together to create a strong interaction with a high frequency between sellers and buyers. Communicating according to the group effect helps e-commerce livestreaming stimulate consumers to buy more than in traditional e- commerce (Mike, 2016). The multidimensional information characteristics, sharing of experiential content, and the closing atmosphere of e-commerce livestreaming effectively improve the order conversion rate. Factors including the aspects of the e-commerce platform, the characteristics of the interface of the MC livestreaming, and the interaction of the livestream MC affect perceived usefulness, thereby positively affecting the intention to continue to use the e-commerce livestreaming. According to Meng (2012), compared to traditional e-commerce, the livestreamed e-commerce is significantly superior in all aspects, such as product introduction, similarity, direct cooperation, and enhancing the consumer experience. Currently, most studies on e-commerce livestreaming by scholars have researched the current status and policies of livestream e-commerce development, the application of livestream e-commerce in other industries, or the sales effectiveness of e-commerce livestreaming from a brand perspective. However, there are few studies on e-commerce livestreaming that analyse consumer behaviour. With the development of online shopping, consumers' information collection methods and channels are highly diverse. For example, the internet has changed consumers' shopping habits, and the psychology of consumers has since altered accordingly. From the Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 85 psychological aspect of consumers, this study evaluates the factors affecting consumers' purchase intention through e-commerce livestreams, thereby adding to studies related to consumer psychology and purchase intention. LITERATURE REVIEW Purchase Intention Fishbein and Ajzen (1975) first introduced the concept of behavioural intention, which manifests each person's willingness to perform a specified behaviour. It is considered the premise that directly leads to behaviour. Mirabi et al. (2015) argue that purchase intention is the impulse to buy a particular product in a particular buying environment. Shah et al. (2012) gave a comparative definition, asserting that purchase intention is a process of choice, expressing the motives that indicate why the customer buys a particular product. Ghosh (1990) argues that purchase intention is an essential predictor of consumers' purchasing decisions. Since purchase intention can help predict consumers' purchasing decisions, it is of practical importance to study the factors affecting consumers' purchasing intentions. Therefore, it allows managers to develop appropriate strategies in the sales process to promote consumers' buying decisions. Along with the rapid development, many scholars have researched online shopping intention. According to Salisbury et al. (2001), online purchase intention is one factor that motivates customers to buy online. According to Close and Kukar-Kinney (2010), online purchase intention comes from purchase intention. Thus, the intention to purchase online is the certainty of consumers who will buy over the internet. Meskaran et al. (2013) defined online purchase intention as a customer's willingness to purchase over the internet. Currently, when researching the online shopping intentions of consumers, scholars focus on two factors: trust and perceived value. Chen (2012) studied the influence of personal identity and trust on online purchase intention, examining the factors affecting consumers' online purchase intention. Personal value is measured by value, perceived sacrifice, and trust, including ability, benevolence and honesty. Kawet et al. (2017) explain that brand identity and trust greatly influence product purchase intention, and part of the influence of value and trust will contribute to purchase intention. Perceived value From the 1990s onwards, the competition between businesses has become increasingly fierce. As a result, the customer's position is increasingly valued, and the importance of the customer's perceived value is increasingly confirmed. Therefore, consumers' perceived value is the object of many scholars' research. Zeithaml (1988) defined the perceived value of customers as the overall assessment of the usefulness of a product based on the perception of what is received and what is spent. Meanwhile, Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 86 Anderson and Sullivan (1993) define customer perceived value as the perceived monetary value of the technical, economic, service and social benefits that customers receive compared to the price they pay for a product, taking into consideration the prices and offers of available suppliers. Thus, the buyer's perception of value is a description of the balance between the quality of the product or the benefits they perceive from the product and the cost they pay for the product. Butz and Goodstein (1996) argue that the customer's perceived value is the emotional relationship established between the customer and the supplier after the customer has used a product or service of the supplier and find that the product or service creates added value. The concepts of customer perceived value of Zeithaml (1988) and Woodruff (1997) are developed from a rational point of view, comparing two aspects: benefits received and value spent. However, many researchers believe that emotional factors also influence customers in the consumption process. Therefore, many researchers measuring customers' perceived value have used a multidimensional approach. Holbrook and Hirschman (1982) pointed out two aspects of perceived value: emotions and pragmatics. Sheth, Bruce and Barbara (1991) identified five dimensions: functional value, social value, emotional value, intellectual value, and conditional value. Sweeney and Soutar (2001) identified four dimensions: social value, emotional value, perceived quality, and perceived price. Petrick (2003) studies and tests the relationship between monetary and nonmonetary prices, reputation, service quality and emotional response to customers' overall perceived value of the service. Thus, when studying consumers' perceived value, it is necessary to consider the rational considerations of consumers. At the same time, paying attention to consumers' emotional needs is also necessary. In recent years, along with the explosive development of the internet and the e-commerce industry, an increasing number of scholars have studied consumers' perceived value when shopping online. When researching aspects of consumers' perceived value when buying online, Dong and Yang (2008) argued that perceived value has three dimensions: consequential value, procedural value and emotional value. Deng (2015) divides perceived value into four aspects with priority: social value, quality value, service value, and price value. In studying the relationship between consumers' perceived value and online interactions, Sun (2016) concluded that perceived value includes three aspects: functional value, emotional value and perceived risk. After referring to previous studies and considering multidimensional research from rational and emotional perspectives, this article studies two aspects of consumers' perceived value in online shopping: functional and emotional. The results of Xu et al. (2020) demonstrated that perceived perception positively affects consumers' purchase intention. In an e-commerce livestream, the MC's consultation will provide consumers with information and knowledge about the product and, at the same time, share their own user experiences, helping consumers to feel more about the functional value of the product. Many studies also consider the perceived quality of products Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 87 by consumers as an important factor constituting the perceived value of consumers. For example, in the process of watching livestreaming, through the process of self-observation, the introduction of MC and the interaction of other buyers will shape the perceived functional value of the consumer towards the product. When consumers realise that the quality of the product is guaranteed, they will have a greater intention of buying it. Therefore, the first hypothesis is as follows: H1: Perceived functional value has a positive effect on purchase intention. Research by Chen and Lin (2018) proves that perceived value positively impacts consumers' purchase intention. Xu et al. (2020) also confirm that perceived preference positively affects consumers' purchase intention. While watching the livestream, customers have positive feelings such as fun and excitement. Thus, the stimuli that consumers receive during livestream viewing will change consumers' emotions, affecting consumers' purchasing intentions. Therefore, the article proposes the following research hypothesis: H2: Perceived emotional value has a positive effect on purchase intention. Interactivity Interactivity is a prominent feature of e-commerce livestreams, so it plays a critical role in the e-commerce livestream environment. For example, customers can interact directly with MC through the chat interface. Interactivity is the exchange of activities between consumers and MCs or between consumers through asking questions, answering, liking, sharing or mini-games. Sun (2016) proves that interactivity positively affects perceived functional and emotional value. In an e-commerce livestream, through the interactive process, consumers will understand the product's features more clearly and vividly, increasing their interest in the product. From the above arguments, the following hypothesis is proposed: H3a: Interactivity has a positive effect on perceived functional value. H3b: Interactivity has a positive effect on perceived emotional value. Promotion Promotion is a business tactic often used in e-commerce livestreams. While watching livestreams, consumers can enjoy exclusive discount offers. Online stores often use deals or other promotional activities to stimulate consumers' buying action. Promotions in this study are all promotional activities during livestreaming, including preferential discounts, gifts, and vouchers, exclusively for consumers watching the livestream. Hao et al. (2008), when studying the impact of the discount effect on promotion, found that the form of product price discounts brings higher perceived value to consumers, both in terms of functional and emotional value. Therefore, the following hypothesis is proposed: Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 88 H4a: Promotion has a positive effect on perceived functional value. H4b: Promotion has a positive effect on perceived emotional value. Entertainment Currently, people's quality of life continues to improve daily. Consumers shop not only to meet their shopping needs but also to meet their entertainment needs. Therefore, while watching livestreams, consumers also have particular entertainment needs. The entertainment concept includes stimuli that bring joy and comfort to consumers during livestream viewing. Xu et al. (2020) proved that entertainment positively impacts perceived emotional and functional value. During livestreaming, the seller can use the form of conveyed content, humour and an attractive style of the MC to create a fun and entertaining experience for consumers to enhance the perceived emotional and functional value of product features. The related hypotheses are as follows: H5a: Entertainment has a positive effect on perceived functional value. H5b: Entertainment has a positive effect on perceived emotional value. Content Content refers to useful information or knowledge about specific aspects consumers receive while watching the livestream. During livestreaming, the MC provides product information more comprehensively and vividly while providing expert knowledge, which helps consumers make more reasonable purchasing decisions. In addition, it improves shopping efficiency for consumers. Xu et al. (2020) demonstrate that content positively affects perceived emotional and functional value. Thus, the new hypotheses are stated as follows: H6a: Content has a positive effect on perceived functional value. H6b: Content has a positive effect on perceived emotional value. Opinion leader Opinion leaders are people who regularly provide objective information in a particular field that has a specific influence on many others. The public opinion leader in this article is only the MC, who, during livestreaming, has professionally provided information about products or services to consumers. The results of Jia (2019) show that the consciousness, affection and knowledge of livestream MCs positively affect consumers' trust. Meng (2012) proves that opinion leaders' trust positively impacts professionalism, product knowledge, interactivity, and popularity. In e-commerce livestreaming, many brands have invited famous people such as singers, actors, and influential people on social networks to take on the role of livestream MCs. They are professional and highly effective people called Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 89 opinion leaders. Research by Xu et al. (2020) has demonstrated that opinion leaders positively impact perceived emotional and functional value. The subsequent research hypotheses are stated as follows: H7a: Opinion leadership has a positive effect on perceived functional value. H7b: Opinion leadership has a positive effect on perceived emotional value. RESEARCH METHODOLOGY This article uses Google Forms to build a survey and then sends the link via email, Zalo, Messenger, and Viber to the survey subjects. At the same time, the author printed the paper survey to send to the respondents who could not access it through the above methods. The study used structural equation modelling (SEM) to test the hypotheses. According to Hair et al. (2010), the minimum sample size should be 50 or more, and the desired ratio is five observations for each variable. According to Kline (2015), a sample size below 100 is small, from 100–200 is medium and above 200 is large. Thus, based on the opinion of Hair et al. (2010), the minimum sample size of this study should be greater than 5x9=45 samples. According to Anderson and Gerbing (1988), a sample size of 150 or more is acceptable. From the above arguments, the article collects 200 survey samples to increase the scales' reliability. The survey sample was selected by convenience sampling, and the sample selection criteria were those who had watched e-commerce livestreaming. The observed variables in the scales all use a 5-point Likert scale with scores ranging from 1 to 5: 1 - Strongly disagree, 2 - Disagree, 3 - Neutral, 4 - Agree, to 5 - Strongly agree. The interactivity scale is adjusted from the study of Lin et al. (2017) and Chen and Lin (2018), including four observed variables. The promotion scale also has four observed variables, a combination of Jiang (2019) and Wang (2020). The content (3 items), entertainment (3 items) and opinion leader (4 items) scales are inherited from Jiang (2019), Chen and Lin (2018) and Meng (2012), respectively. The perceived functional value and perceived emotional value scales with three items were borrowed from Meng (2012), and the purchase intention scale was built from reference to the studies of Lin et al. (2017) and Lin (2017). The data sample was collected from April to June 2021. This study collected 263 survey questionnaires, of which 217 votes passed the filtered question, and the percentage of votes that failed the filtered question was 17.5% because they reported that they never watched the livestream. Among the respondents, there were 166 female respondents, accounting for 76.5%. A total of 26.7% of respondents were 18- to 25-year-olds, 21.2% were between 26 and 30 years old, 28.1% were between 31 and 35 years old, and 23.5% were over 35 years old. Regarding income, 21.7% of respondents received below 200 EUR/month, 30.4% had income from 200 EUR to under 400 EUR, 34.1% had income from 400 EUR to under 800 EUR, and 13.8% had revenue of 800 EUR or more. In terms of educational Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 90 qualifications, 6.9% of the candidates have a high school degree, 18.9% of the respondents have a college/vocational level, 61.3% of the respondents have a university degree, 11.5% students have a Master's degree, and 1.4% of the candidates have other educational qualifications. Regarding the average number of online purchases a month, 17.5% of candidates shop less than once, 49.3% buy from 1 to 3 times, and 33.2% of candidates shop more than seven times a month. RESULTS AND DISCUSSION Data were analysed using partial least squares structural equation modelling. Hair et al. (2019) suggested that two phases of the PLS-SEM assessment process should be implemented. Phase 1 is a measurement model assessment with analytical steps such as reliability, convergent and discriminant validity, and multicollinearity. Phase 2, Structural model assessment, includes an explanatory power check (R 2 ) and path coefficient assessment. Measurement Model Assessment According to Hair et al. (2017), when assessing the internal stability of the scale, both Cronbach's alpha and the composite reliability coefficient should be considered. The larger the Cronbach's alpha coefficient is, the higher the internal consistency reliability. According to Hair et al. (2014), Cronbach's alpha coefficient needs to be greater than 0.7. The author's data analysis results in Table 1 show that the scales have Cronbach's alpha in the range from 0.838 to 0.947, all greater than 0.7. In addition to using Cronbach's alpha coefficient, the scale's reliability is also evaluated through the composite reliability coefficient. Composite reliability is best when it has a value of 0.7 or higher (Hair et al., 2010). In Table 1, the reliability of the scale ranges from 0.892 to 0.966, both greater than 0.7, which shows that the scales used are satisfactory. Table 1: Reliability, convergent validity and multicollinearity test CA CR AVE Outer loadins VIF R 2 Interactivity 0.838 0.892 0.673 0.790–0.845 1.716– 1.977 Promotion 0.887 0.922 0.747 0.842–0.885 2.363– 2.767 Entertainment 0.884 0.927 0.810 0.878–0.924 2.224– 3.344 Content 0.882 0.927 0.809 0.880–0.917 2.177– 2.860 Opinion leaders 0.880 0.917 0.735 0.826–0.881 2.074– 3.138 Perceived functional value 0.947 0.966 0.905 0.943–0.960 2.244– 2.991 0.512 Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 91 Perceived emotional value 0.88 0.92 0.809 0.881–0.922 2.200– 3.672 0.644 Purchase intention 0.93 0.95 0.885 0.935–0.945 2.744– 3.234 0.627 Source: Own survey. This study assessed convergent validity through the outer loadings of observed variables and average variance extracted (AVE). The AVE coefficient needs to be above 0.5, and the outer loading needs to be greater than 0.7 for the scale to converge (Hair et al., 2017). The results in Table 1 show that the scales' AVE and outer loading indices are more significant than 0.7. This result indicates that the scale variables converge with the research concepts. Table 2: Fornell-Larcker criterion 1 2 3 4 5 6 7 8 Perceived emotional value 0.90 0 Perceived functional value 0.73 1 0.95 1 Entertainment 0.67 9 0.54 9 0.90 0 Promotion 0.60 8 0.52 2 0.54 6 0.86 5 Opinion leader 0.63 0 0.59 0 0.49 6 0.57 1 0.85 7 Content 0.68 6 0.65 4 0.60 6 0.63 1 0.64 3 0.90 0 Interactivity 0.64 2 0.55 7 0.56 9 0.50 4 0.54 6 0.65 2 0.82 1 Purchase intention 0.71 8 0.72 1 0.59 2 0.62 9 0.63 1 0.73 5 0.59 4 0.94 1 Source: Own survey. In PLS-SEM, the discriminant validity is evaluated based on the Fornell- Larcker criteria. The square root of AVE must be greater than the intercorrelation coefficient between concepts (Fornell & Lacker, 1981). The results shown in Table 2 show that the square root AVE of each concept is larger than the correlation coefficient of that concept and others. Therefore, the scale meets the discriminant condition. Structural Model Assessment Table 3: Bootstrapping analysis Path Coefficients β P Values Results Interactivity → Perceived functional value 0.123 0.070 Rejected Interactivity → Perceived emotional value 0.186 0.007 Accepted Promotion → Perceived functional value 0.060 0.427 Rejected Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 92 Promotion → Perceived emotional value 0.128 0.024 Accepted Entertainment → Perceived functional value 0.156 0.043 Accepted Entertainment → Perceived emotional value 0.300 0.000 Accepted Content → Perceived functional value 0.302 0.000 Accepted Content → Perceived emotional value 0.179 0.011 Accepted Opinion leader → Perceived functional value 0.218 0.003 Accepted Opinion leader → Perceived emotional value 0.191 0.003 Accepted Perceived functional value → Purchase intention 0.215 0.021 Accepted Perceived emotional value → Purchase intention 0.310 0.000 Accepted Source: Own survey. R 2 is an index that measures the extent to which the input variables explain the change in the dependent variable. The value of R 2 ranges from 0 to 1, and the closer it is to 1, the greater the independent variable explains the dependent variable. According to Henseler et al. (2009), there are three R 2 ratings: 0.25 is weak, 0.5 is moderate, and 0.75 or higher is high. The results in Table 1 show that R 2 ranges from 0.512 to 0.644, which is assessed as the average level of impact. The concepts of interaction, promotion, content, opinion leader, and entertainment explained 64.5% of the variation in perceived emotional value and 51.2% of the variation in perceived functional value at statistical significance level of 5%; the rest is unexplained due to other factors not included in the model. For example, perceived emotional and perceived functional value explained 62.7% of the variation in purchase intention via livestreaming. Multicollinearity was assessed using the variance inflation factor (VIF). If this index is less than 10, the model does not experience multicollinearity among the independent variables (James et al., 2013). Thus, the results in Table 1 show that the VIF value is less than 10, indicating no multicollinearity between the independent variables. The study uses the bootstrap method of resampling from the original sample to generate a large enough number of secondary samples (bootstrap samples), from which there is a basis for evaluating the accuracy of the statistical parameters of the original model. The author uses the bootstrapping method repeated 5,000 times and then considers the path coefficient and the P value. The path coefficient value ranges from -1 to +1. The closer this value is to +1, the stronger the positive relationship, and vice versa. In addition to testing the hypothesis, the author considers the P value. If the P value ≤ 0.05, the level of impact is statistically significant, and the hypothesis is accepted; otherwise, if the P value > 0.05, the level of effect is not statistically significant, and the hypothesis is rejected. The path coefficient results in Table 3 show that interaction, promotion, entertainment, content, and opinion leader positively impact perceived emotional and functional value. Entertainment has the strongest impact on perceived emotional value (β = 0.300), and content has the strongest impact on perceived functional value (β = 0.302). In contrast, promotions had the lowest impact on perceived functional value (β = 0.060) and perceived Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 93 emotional value (β = 0.128). Perceived functional value and perceived emotional value positively impact purchase intention through livestreaming, in which perceived emotional value (β = 0.310) has the strongest impact on purchase intention, followed by perceived functional value (β = 0.215). Regarding the p values, the results in Table 3 show that the relationship between interactivity and promotion with perceived functional value has p values > 0.05. Hence, the relationship between these variables is not statistically significant. The remaining relationships between the independent and intermediate variables (perceived emotional value and perceived functional value) all have p values < 0.05; thus, these hypotheses are verified. The relationship between perceived emotional value and perceived functional value with purchase intention through livestreaming is statistically significant with p values < 0.05; thus, the hypotheses are confirmed. The results of this study show that interactivity has a positive impact on consumers' perceived emotional value. This result is similar to the results of Sun (2016). The interactive activities in livestreaming have made consumers happy and excited, thereby increasing purchase intention. However, promotion does not affect perceived functional value, in contrast to the results of Hao et al. (2008). The reason may be that consumer psychology does not believe in the quality of the product, so promotion does not affect consumers' confidence, and advancements in livestreaming make consumers feel excited because of low prices but do not affect consumers' thoughts about product quality. The results of this study are similar to those of Yao and Qin (2010) and Xu et al. (2020). The study shows that entertainment, content and opinion leaders positively affect consumers' perceived functional and emotional value. This means that the higher the entertainment atmosphere during livestreaming, the higher the customer's trust, sympathy and perception of product quality. This study's entertainment concept includes stimuli that bring a sense of joy and comfort to consumers during livestream viewing. Along with socioeconomic development, when participating in shopping activities, consumers also meet shopping needs and can relax and relieve stress. Currently, the sales livestream program on e-commerce floors has diverse content and is well invested in many entertainment programs, with rich content, trend updates and the tastes of consumers, increasing the amount of interaction with customers. This helps increase traffic with viewers,which will result in more customers. CONCLUSIONS This study proves that interactivity positively affects perceived emotional value, and content quality is the most important factor affecting consumer trust, perceived functional value and perceived emotional value. However, products still play a vital role in the e-commerce livestreaming program. For example, when consumers watch the e-commerce livestreaming, the most critical purpose is to learn about the product by asking questions to the MC Advances in Business-Related Scientific Research Journal, Volume 13, No. 2, 2022 94 and talking to other consumers. Therefore, during livestreaming, MCs need to understand and improve their ability to introduce product features, promptly answer consumers' questions, and provide them with more intuitive information outside the product's image. Finally, they must highlight the product's advantages and help consumers make purchasing decisions more effectively. During the e-commerce livestreaming, the MC also must provide more product-related knowledge to consumers so that they can both shop and perceive added value while watching the livestreaming programs. Research has shown that the higher the level of professionalism of the opinion leader, the more consumers trust the product and the greater the perceived functional and emotional value. Therefore, when brands and sellers choose MCs, it is necessary to choose people with a certain degree of popularity, influence and high professionalism in the product-related field to attract more customers. In addition, MCs’ endorsement and influence help them have a clearer perception of the product's value, improve consumer confidence in the product, and increase the product's transaction volume during the livestreaming. Currently, the livestream feature is becoming increasingly popular, and consumers increasingly demand the content and interactivity of livestream programs. Monotonous product explanations, traditional comments and answers, and some price reductions have not been able to meet users' needs. Platforms providing livestream features need to be researched and developed to promote innovative forms of livestreaming, such as using VR, AR and other technologies to convert livestream programs from "two- dimensional" to "three-dimensional". In addition, livestreaming provides consumers with more accurate and efficient product information with a more prosperous, immersive viewing experience. Perceived functional value and perceived emotional value positively influence consumers' purchase intention through livestreaming. Consumers who watch e-commerce livestream programs can more intuitively feel the quality of the product and are interested in the product, thereby generating a desire to buy. However, products are still the core factor determining the success of the livestream program. 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