Influencing Repurchase Intentions in the Character Economy: The Role of Consumer Values and Parasocial Interactions

This research explores the character economy, focusing on how perceived values influence consumer repurchase intentions, particularly in the context of idol collaboration characters. Anchored in the Cognitive-Affective-Conative (CAC) model, the study investigates how functional, emotional, social, and aesthetic values of character merchandise influence consumer behavior through parasocial interactions (PSI). The structural equation model (SEM) results of our survey of 458 respondents indicate that functional and emotional values significantly foster PSI, which, in turn, positively impacts repurchase intentions. Interestingly, social value did not show a notable effect on PSI, suggesting a nuanced process in consumer valuation of character merchandise. The study highlights the pivotal role of aesthetic value, emphasizing its strong predictive power on PSI and, subsequently, repurchase intentions. The findings provide theoretical insights into consumer engagement and practical strategies for businesses in the character economy to strengthen consumer emotional connections. The paper also suggests future research directions, including longitudinal studies across different cultures and the exploration of emerging technologies' roles in shaping consumer-character relationships, thereby contributing to a deeper understanding of the dynamic character economy.