Linking personal cultural values to consumer value perception through perceived sustainability

Sustainability has become a critical paradigm in consumer behavior; however, the mechanism through which personal cultural values translate into consumer-perceived value via sustainability perceptions remains underexplored. Grounded in the Value-Belief-Norm (VBN) framework, this study investigates the mediating role of perceived sustainability—encompassing economic, environmental, and social dimensions—in the relationship between personal cultural values (self-enhancement and conservation) and consumer-perceived value (functional, epistemic, conditional). Data from 515 Mongolian consumers were analyzed using structural equation modeling. The results indicate that both self-enhancement and conservation values significantly influence sustainability perceptions, with conservation exhibiting a stronger and more consistent effect (β = 0.367–0.432, *p* < 0.001). Perceived sustainability, in turn, positively affects consumer value, with economic sustainability having the most substantial impact (e.g., on functional value, β = 0.488, *p* < 0.001). A key finding reveals that social sustainability does not significantly influence conditional value. Mediation analysis confirms the significant role of perceived sustainability as a mediator, with conservation values demonstrating robust indirect effects on all value dimensions, while self-enhancement shows only partial mediation. These findings extend VBN theory into a consumer context and provide managers with actionable insights for designing culturally-attuned sustainability strategies that enhance consumer value.