The Impact of Perceived Value of Sports Licensed Merchandise on Spectating Intention and Repurchase Intention: A Case Study of the 2025 Chengdu World Games

This study, based on the Stimulus-Organism-Response (S-O-R) theoretical model and utilizing a sample of 454 consumers, constructs a path model to examine the effects of “perceived value (economic value, social value, aesthetic value), satisfaction, spectating intention towards the event, and repurchase intention for licensed merchandise.” The results indicate that all three dimensions of perceived value have a significant positive impact on satisfaction. Satisfaction, in turn, significantly positively influences both repurchase intention and spectating intention. Moreover, satisfaction plays a fully mediating role between perceived value and spectating intention, while it plays a partially mediating role between perceived value and repurchase intention. These findings reveal the intrinsic psychological transformation mechanism-from consumers’ cognitive appraisal of the value of event-related products to their behavioral intention to participate in the event-within the consumption context of licensed merchandise. This provides empirical evidence for event organizers and brand owners to enhance consumer satisfaction, promote sustained consumption, and encourage event participation by optimizing product value attributes.