An Analytical Study of Blockchain Technology on Consumers' Perceived Value and Loyalty Response in Retail Industry under SOR Theory

This study projects the SOR theoretical model to a retail industry scenario where blockchain technology is applied, setting blockchain technology as the independent variable, perceived value as the mediator variable, and loyalty response as the dependent variable. The questionnaires and scales were designed by combining relevant information and experts' suggestions. The questionnaire is distributed to obtain the initial data of this study, and a statistical model is established to explore the role of blockchain technology in retail industry on consumers' perceived value and loyalty response under the SOR theory. The results of hypothesis testing point out that there is a significant correlation between decentralization, non-counterfeiting, traceability function, public transparency, perceived quality value, perceived economic value, perceived emotional value and loyalty response, and its corresponding regression equation is 0.136+0.611*Decentralization Q1+0.034*Non-counterfeiting Q2+0.141* Traceability Function Q3+0.139*Public Transparency Q4+ 0.016*Perceived quality value Q5+0.089*Perceived economic value + 0.047*Perceived emotional value. This study comprehensively reveals the relationship between blockchain technology, consumer perceived value, and loyalty response, which is of great practical significance to the development of retail industry.