E-commerce webcasting has developed rapidly since its emergence in 2016, and has attracted much attention due to its vast traffic dividend. Based on flow theory, opinion leader characteristics and SOR (stimulus-organism-response) model, this study determined that anchor characteristics, product promotion and external situational factors were used as stimulus variables. Consumers' perceived practical value was introduced as mediating variables to construct The model of consumers' purchase intention under the scenario of e-commerce live broadcast and research hypotheses are put forward to explore the factors and internal mechanisms that affect consumption intention. Taking the consumer group represented by college students as the research object, the study found that: the situational factors and the anchor's professionalism will have a positive impact on the perceived practical value and consumption intention of college students; product promotion factors and popularity of anchors have no direct influence on consumption intention; perceived practical value plays an intermediary role in the process of college students' consumption willingness.