Research on the Impact of Online Celebrity Live-Streaming of Goods on Vietnamese Consumers’ Purchase Intention

This study concentrates on the Vietnamese market, taking Vietnamese live-streaming e-commerce consumers as its research subjects, with the objective of deeply exploring the impact mechanism of influencer live-streaming e-commerce on their purchase intentions. Drawing upon the classic Stimulus-Response Theory (specifically, the Stimulus-Organism-Response or SOR model) and Matching Theory, the research constructs a comprehensive theoretical model incorporating direct effects, mediating effects, and moderating effects. Within this model, the key stimulus factors in the influencer live-streaming process are defined as influencer influence (encompassing social capital like popularity and fan base size), professionalism (reflecting cognitive capital such as product knowledge and recommendation skills), and interactivity (representing social capital like real-time communication and responsiveness). Consumers' perceived trust is conceptualized as the core organismic state variable, potentially playing a dual role: mediating the impact of influencer characteristics on purchase intention, and moderating the strength of this relationship. Concurrently, acknowledging the differential impact of product attributes on consumer decision-making paths, this study introduces product type (search goods vs. experience goods) as another significant moderating variable. The final behavioral response focuses on consumers' purchase intention. To validate the proposed theoretical model and research hypotheses, this study employed a quantitative research methodology. A structured questionnaire was designed based on a thorough literature review of relevant theories and existing research, adapting established scales from domestic and international studies to the Vietnamese context. The questionnaire covered multiple dimensions, including influencer influence, professionalism, interactivity, perceived trust, purchase intention, and demographic information. Data collection was conducted between September and November 2023, primarily in Ho Chi Minh City and Hanoi, Vietnam, using a combination of online (social media, email) and offline (public places) channels. A total of 500 valid responses were obtained. Data analysis was performed using statistical software such as SPSS 26.0 and AMOS (or similar tools like the PROCESS macro), involving descriptive statistics, reliability and validity tests (Cronbach's Alpha, Exploratory Factor Analysis - EFA), correlation analysis, multiple linear regression analysis, mediation effect testing using the Bootstrap method, and moderation effect testing via hierarchical regression analysis. The empirical results reveal the following key findings: (1) Influencer influence, professionalism, and interactivity all exert significant positive direct effects on Vietnamese consumers' purchase intentions, with influencer influence demonstrating the most prominent impact. (2) Perceived trust plays a significant partial mediating role in the relationships between influencer influence, professionalism, interactivity, and purchase intention; these three influencer characteristics effectively enhance consumer perceived trust, which, in turn, directly and positively drives purchase intention. (3) Perceived trust functions not only as a mediator but also as a significant positive moderator in the relationships between influencer characteristics and purchase intention, meaning higher levels of trust amplify the positive effects of influencer traits. (4) Product type significantly moderates the relationship between influencer characteristics and purchase intention, specifically: influencer influence and professionalism have a stronger positive impact on purchase intention for search goods, whereas interactivity exerts a stronger positive influence on purchase intention for experience goods.