Given the rise in influencer marketing on social media, this paper explores how homophily between influencers and their audiences affects customer value co-creation behaviour, resulting in increased expected brand value and purchase intention. A sample of 910 respondents from the United States completed an online investigation. The results indicate that homophily positively influences customer value co-creation behaviour as well as positively correlates with expected brand value and purchase intention. Customer value co-creation behaviour plays a multi-mediating role. Para-social relationship moderates the relationship between homophily and customer participation behaviour. Overall, this study encourages further research on value co-creation in influencer marketing and can constitute a valuable reference for marketing practitioners and influencers. •Homophily between influencers and audiences stimulates customer value co-creation behaviour.•Expected brand value and purchase intention occur through customer value co-creation behaviour.•Multiple mediating effects from customer value co-creation behaviour.•Performance of para-social relationship as a moderator.