Shopping community is an important platform for merchants to create value with customers and customers’ participation in value creation plays an significant role for merchants. In order to explore how value co-creation behavior affects the purchase intention, the structural equation model and Bootstrap analysis method were used to discuss the intermediary role of consumer perceived value in value co-creation behavior and pur_x0002_chase intention based on the questionnaire data of 361 users of the shopping website. Empirical results show that value co-creation behavior, including knowledge contribution behavior and customer citizen behavior, has a significant positive impact on purchase intention, and perceptual value plays a significant intermediary role in the process of knowledge contribution behavior and customer citizens’ behavior affecting purchase intention. Based on the above research conclusions, recommendations are made for online retailers.