<jats:sec> <jats:title>Purpose</jats:title> <jats:p>This study investigates how functional and symbolic utilities at both product and brand levels influence perceived quality, price sensitivity, and purchase intention in sports footwear consumption among lower-middle-income Generation Z consumers in Brazil and Portugal, considering cultural and socioeconomic contexts.</jats:p> </jats:sec> <jats:sec> <jats:title>Design/methodology/approach</jats:title> <jats:p>A quantitative cross-national survey was conducted with 259 Generation Z consumers from Brazil and Portugal. Validated scales were used to measure functional and symbolic utilities, perceived quality, price sensitivity, and purchase intention. Data were analysed using multi-group Partial Least Squares Structural Equation Modelling (PLS-SEM), complemented by psychographic cluster analysis.</jats:p> </jats:sec> <jats:sec> <jats:title>Findings</jats:title> <jats:p>Value formation differs across contexts. In Brazil, functional utilities at both product and brand levels had a significant influence on perceived quality, suggesting a pragmatic consumption orientation. In Portugal, symbolic product utility played a more prominent role in shaping perceived quality. Price sensitivity was not directly associated with functional utility in either country, but it was positively associated with the symbolic utility of the brand in Brazil. Both perceived quality and price sensitivity were positively associated with purchase intention in both markets. Psychographic analysis identified six distinct consumer profiles in each country, with Brazilian consumers displaying stronger emotional brand engagement, while Portuguese consumers showed more utilitarian and sceptical orientations.</jats:p> </jats:sec> <jats:sec> <jats:title>Practical implications</jats:title> <jats:p>In Brazil, branding should emphasise functional performance and value for money. In Portugal, symbolic positioning and lifestyle alignment are more effective when supported by functional credibility.</jats:p> </jats:sec> <jats:sec> <jats:title>Originality/value</jats:title> <jats:p>This study contributes to sports marketing and consumer behaviour by demonstrating that value formation among Generation Z is segmented and context-dependent, rather than universal.</jats:p> </jats:sec>