The impact of consumer perceived value on repeat purchase intention based on online reviews: by the method of text mining

Abstract

The progress of IT technology such as social network and mobile payment and the change of social economic environment promote the emergence of sharing economy. As a subversive business model, the sharing economy is growing at an alarming rate all over the world. However, the influencing factors of consumers' continuous participation in the sharing economy are not clear. The paper aims to clarify the relationship between consumer perceived value and repeat purchase intention in the sharing economy. Taking the sharing economy platform (Airbnb) as an example, it proposes a dimension framework of consumer perceived value in peer-to-peer (P2P) accommodation rental service, including functional value, hedonic value, epistemic value and social relationship value. This paper used big data technology to crawl online reviews of P2P accommodation platform. LDA (Latent Dirichlet Allocation) topic model and sentiment analytics method were applied to construct the measurement indicators of perceived value based on online reviews. And repeat purchase intention variables were extracted from online reviews. Then structural equation model was used to examine the effect of perceived value dimensions on it. The paper identified that perceived value has a positive impact on consumers' repurchase intention in P2P accommodation. Also, social relationship value was considered as the most important influencing factor.