A study on the impact of consumer perceived value on the purchase intention of domestic cosmetics : using brand value as a mediation

Abstract

According to statistics from the National Bureau of Statistics of China, the retail sales of cosmetics above designated size in China reached 402.6 billion yuan in 2021, and the market size of the Chinese cosmetics industry reached 455.3 billion yuan in 2021, marking a year-on-year increase of 15%. Against the backdrop of increasing per capita income and continuously increasing disposable income, as well as the increase in people's aesthetic awareness and high demand for their own appearance, the Chinese cosmetics market will continue to rise. It is estimated that the size of the Chinese cosmetics market will exceed 500 billion yuan in 2023. Perceived value is an important factor in marketing consumer purchase intention. In order for Chinese cosmetics companies to overcome the dilemma of price competition, they need to find methods that affect consumer perceived value. By enhancing consumer perceived value, consumers can generate purchase intention towards the company and enhance the brand value to satisfy consumer psychological satisfaction. Through empirical analysis, it can be concluded that consumer perceived value and brand value have a positive impact on the purchase intention of domestic cosmetics consumers. Brand value has the strongest impact on the purchase intention of domestic cosmetics consumers, indicating that brand value should be given more attention in practical applications