Empirical Study on the Mediation Model and Moderating Effect based on the Urban Fringe Economy

Abstract

The street vendor economy represents economic activity characterized by income generation through street stalls, often viewed as a marginal economic sector in urban environments. In response to the national economic downturn, the State Council of the CPC Central Committee introduced the "six guarantees" and "six stabilizations" as key goals for 2020, prompting municipal authorities to liberalize the informal sector. This liberalization aims to stabilize employment and secure livelihoods.Against this backdrop, our project team conducted an empirical investigation, guided by a literature review that informed the questionnaire design for Studies. The studies developed hypotheses, gathered and analyzed data, and applied hierarchical regression and structural equation modelling to examine university students' consumption patterns and participation in the street vendor economy. The moderated mediation model, based on 1,208 valid responses, revealed that risk perception moderates the impact of new media content marketing on brand image perception and consumer satisfaction, indicating a need for transformation and upgrading in this sector.