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“Blind box +X” is a popular marketing method in recent years. It is of theoretical and practical significance to explore the influencing factors of consumers’ purchase intention in this situation. Based on the stimulus-organic-response (S-O-R) model, this paper constructs the influencing factors model of blind box consumers’ purchase intention. Blind box characteristics of the unknown attribute, social attribute, and aesthetic attribute were taken as antecedent variables, with perceived value and consumer trust serving as mediating variables and brand cognition serving as moderating variables. Questionnaire survey and data analysis were used to conduct empirical research to verify the effectiveness of relevant influencing factors, in order to provide a reference for the sustainable development of more “blind box +X” industry.