How Does Perceived Value Influence Functional Snack Consumption Intention? An Empirical Analysis Based on Generational Differences

Perceived value is a key factor shaping consumer purchase decisions. In the field of functional snack consumption, generational differences in value perception dimensions significantly influence decision-making processes, creating both challenges and opportunities for targeted marketing. Drawing on perceived value theory, this study develops a model examining the impact of perceived value on consumption intention for functional snacks. A questionnaire survey was conducted among Chinese Generation Y and Generation Z consumers, and the data were analyzed using PLS-SEM and fuzzy-set Qualitative Comparative Analysis (fsQCA). The results indicate that self-oriented values (functional and hedonic) exert a significant positive effect on other-oriented values (symbolic and social), and both categories of values positively affect consumption intention. Regarding generational moderation, the effects of functional and hedonic values on purchase intention do not differ significantly across generations; however, symbolic value has a stronger influence on Generation Z, while social value plays a more prominent role for Generation Y. Importance-Performance Map Analysis (IPMA) results further reveal differences in the relative importance and performance of value perception between the two groups. Configuration analysis shows that compared with Generation Y, Generation Z exhibits a higher threshold for strong consumption intention, a lower threshold for weak consumption intention, and greater sensitivity to value deficiency. These findings provide practical insights for functional snack companies to address generational differences and optimize marketing strategies.