<![CDATA[Fashion e-commerce platforms struggle to sustain loyalty because consumers evaluate platform service, value, and uncertainty about fit, payment, privacy, delivery, and returns. This study tests the direct associations of platform service quality, perceived value, and perceived risk with customer satisfaction and loyalty, together with satisfaction’s mediating role. A cross-sectional survey yielded 410 usable responses from purposively selected active users in East Java, Indonesia. Five-point reflective measures were analyzed using PLS-SEM with 5,000 bootstrap resamples. Platform service quality was positively associated with satisfaction (β=0.125, p=0.025) and loyalty (β=0.269, p<0.001). Perceived value was positively associated with satisfaction (β=0.190, p=0.001) and loyalty (β=0.369, p<0.001), while satisfaction was positively associated with loyalty (β=0.292, p<0.001). Perceived risk unexpectedly showed positive coefficients for satisfaction (β=0.330, p<0.001) and loyalty (β=0.223, p<0.001), contrary to the hypothesized negative directions. Significant indirect effects through satisfaction were found for platform service quality (β=0.036, p=0.043), perceived value (β=0.055, p=0.002), and perceived risk (β=0.096, p<0.001), although risk mediation was directionally unsupported. The model explained 18.6% of satisfaction and 49.7% of loyalty. The study extends general e-commerce quality models by treating benefit- and uncertainty-oriented evaluations as parallel antecedents and specifying their transmission through satisfaction in multi-seller fashion marketplaces, where platform governance must compensate for seller heterogeneity, fit uncertainty, and return friction. Managers should strengthen platform reliability, value delivery, buyer protection, fit information, and returns. The positive risk coefficients require an audit of item orientation before substantive interpretation.]]>
