Materialism, Financial Literacy, and Online Impulsive Buying: A Study on the Post Millennial Generation in a Pandemic Period
Downloads
Objective: The research aims to ascertain the influence and examine the function of materialism (centrality, success, and pleasure) on impulsive online purchasing using financial literacy as a moderating factor.
Design/Methods/Approach: The quantitative study uses the SEM analysis technique with the assistance of the SmartPLS 3.6 software. This research uses a purposive sampling strategy to choose 415 individuals. Sample criteria: 1) Minimum age of 17 years and maximum age of 25 years; 2) Online transaction including an impulsive buy. Google form is used to get the data.
Findings: The findings indicated that materialism and impulsive online buying have a positive and substantial impact. The association between financial literacy and materialism could not be moderated. The association between financial literacy and impulsive online buying is nonexistent. However, the relationship between central, happiness, and success on materialism is significant.
Originality: Materialism and financial literacy work together to impact impulsive internet purchase choices. During the pandemic, it was found that Malang's students' financial literacy did not have a significant influence on their buying habits. This suggests that disadvantaged students are nevertheless prone to impulsive internet purchases despite their materialistic outlook.
Anggriani, R., Abdurrahman., Isra, D.K.I., & Sidharta, R.B.F.I. (2021). Pengaruh Sifat Materialisme terhadap Perilaku Impulsive Buying dan Kecenderungan Compulsive Buying Pada Remaja di Kota Mataram. TARGET : JURNAL MANAJEMEN DAN BISNIS, 8 (1), 109-118.
Anisa, N. A., Arifin, S., Setyowati, L., Hidayah, N., & Megasari, A. D. (2020). Financial literacy on impulsive buying behavior in y generation. Quantitative Economics and Management Studies, 1(1), 70-75.
Arifianti, R., & Gunawan, W. (2020). Perilaku Impulse Buying Dan Interaksi Sosial Dalam Pembelian Di Masa Pandemi. SOSIOGLOBAL : Jurnal Pemikiran Dan Penelitian Sosiologi, 5(2), 43–60.
Atkinson, A., & Messy, F. (2018). Literasi Keuangan. In Literasi dan Inklusi Keuangan Indonesia (p. 7). Rajawali pers.
Awanis, S., Schlegelmilch, B. B., & Cui, C. C. (2017). Asia's materialists: Reconciling collectivism and materialism. Journal of International Business Studies, 48(8), 964–991. https://doi.org/10.1057/s41267-017-0096-6.
BPS (Badan Pusat Statistik). (2020). Hasil Sensus Penduduk 2020. Badan Pusat Statistik (bps.go.id) (Online)
Chandra, I., & Purnami, N. (2014). Pengaruh Jenis Kelamin, Promosi Penjualan Dan Sifat Materialisme Terhadap Perilaku Impulse Buying Secara Online. E-Jurnal Manajemen Universitas Udayana.
Cuandra, F., & Kelvin. (2021). Analysis of influence of materialism on impulsive buying and compulsive buying with credit card use as mediation variable. 13(1), 7–16.
Fariana, R. E., Surindra, B., & Arifin, Z. (2021). The Influence of Financial Literacy, Lifestyle and Self-Control on the Consumption Behavior of Economic Education Student. International Journal of Research and Review, 8(8), 496–503. https://doi.org/10.52403/ijrr.20210867.
Gardarsdóttir, R. B., & Dittmar, H. (2012). The relationship of materialism to debt and financial well-being: The case of Iceland's perceived prosperity. Journal of Economic Psychology, 33(3), 471–481. https://doi.org/10.1016/j.joep.2011.12.008.
Kacen, J. J., & Lee, J. A. (2002). The influence of culture on consumer impulsive buying behavior. Journal of Consumer Psychology, 12(2), 163–176. https://doi.org/10.1207/153276602760078686.
Lam, L. T., & Lam, M. K. (2017). The association between financial literacy and Problematic Internet Shopping in a multinational sample. Addictive Behaviors Reports, 6, 123-127.
Li, J., Yang, R., Cui, J., & Guo, Y. (2019). Imagination matters when you shop online: The moderating role of mental simulation between materialism and online impulsive buying. Psychology Research and Behavior Management, 12, 1071–1079. https://doi.org/10.2147/PRBM.S227403.
Liang, Y.-P. (2012). The Relationship between Consumer Product Involvement, Product Knowledge and Impulsive Buying Behavior. Procedia - Social and Behavioral Sciences, 57(03), 325–330. https://doi.org/10.1016/j.sbspro.2012.09.1193.
Lim, S. H., Lee, S., & Kim, D. J. (2017). Is Online Consumers' Impulsive Buying Beneficial for E-Commerce Companies? An Empirical Investigation of Online Consumers' Past Impulsive Buying Behaviors. Information Systems Management, 34(1), 85–100. https://doi.org/10.1080/10580530.2017.1254458.
Lusardi, A., & Mitchell, O. S. (2011). Financial literacy around the world: An overview. Journal of Pension Economics and Finance, 10(4), 497–508. https://doi.org/10.1017/S1474747211000448.
Mangestuti, R. (2014). Model Pembelian Kompulsif Pada Remaja Model Pembelian Kompulsif Pada Remaja. http://repository.uin-malang.ac.id/340/1/Ringkasan Disertasi Pembelian Kompulsif.pdf.
Moran, B., & Kwak, L. (2015). http://www.jrconsumers.com/Academic_Articles/issue_27/. Journal of Research Consumers, 27, 26–51.
Ningtyas, M. N., & Andarsari, P. R. (2021). Peran Perilaku Keuangan dalam Memoderasi Literasi Keuangan dan Keberlangsungan Usaha. Jurnal Riset Dan Aplikasi: Akuntansi Dan Manajemen, 5(1), 37–44. https://doi.org/10.33795/jraam.v5i1.004.
OECD (Organisation for Economic Co-operation and Development). (2015). TOOLKIT FOR MEASURING FINANCIAL LITERACY AND FINANCIAL INCLUSION. In Organisation for Economic Co-operation and Development,. www.oecd.org.
Oseifuah. E. K. (2010). Financial literacy and youth entrepreneurship in South Africa. African Journal of Economic and Management Studies. Vol. 1.
Pundian, Y. (2017). Pengaruh Impulse Buying, Consumer Anxiety, Dan Escapism Terhadap Perilaku Compulsive Buying Pada Konsumen Sepatu Di Surabaya. (Doctoral Dissertation, Widya Mandala Catholic University Surabaya).
Pangestu, S., & Karnadi, E. B. (2020). The effects of financial literacy and materialism on the savings decision of generation Z Indonesians. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1743618.
Rehmat, M., Farooqi, S., & Mukhtar, K. (2021). INFLUENCE OF MATERIALISM ON IMPULSE BUYING: MODERATED MEDIATION MODEL. Ilkogretim Online -Elementary Education Online, 20(5), 6104–6117. https://doi.org/10.17051/ilkonline.2021.05.686.
Richins, M. (2004). The material values scale: Measurement properties and development of a short form. Journal of Consumer Research, 31(1), 209–219. https://doi.org/10.1086/383436.
Richins, M. (2011). Spending : Implications for Credit Use Spending : Implications for Credit Use. 30(NOVEMBER 2011), 141–156.
Richins, M. L., & Dawson, S. (1992). A Consumer Values Orientation for Materialism and Its Measurement: Scale Development and Validation. Journal of Consumer Research, 19(3), 303. https://doi.org/10.1086/209304
Rook, D. W., & Fisher, R. J. (1995). Normative Influences on Impulsive Buying Behavior. Journal of Consumer Research, 22(3), 305. https://doi.org/10.1086/209452.
Schiffman, L. G., & Kanuk, L. L. (2010). Consumer Behavior 10th Edition. In Pearson Education.
Shahid, R., Asif, K., Jamshed, khan K., Ahsan, A., & Mah a Mobeen, A. (2012). The Impact Of Materialism On Compulsive Consumption In Pakistan. African Journal of Business Management. https://doi.org/10.5897/ajbm11.1870.
Sharif, S. P., & Khanekharab, J. (2017). Identity Confusion and Materialism Mediate the Relationship between Excessive Social Network Site Usage and Online Compulsive Buying. Cyberpsychology, Behavior, and Social Networking, 20(8), 494–500. https://doi.org/10.1089/cyber.2017.0162.
Spinella, M., Lester, D., & Yang, B. (2014). Compulsive buying tendencies and personal finances. Psychological Reports, 115(3), 670–674. https://doi.org/10.2466/18.02.PR0.115c27z0.
Susanti, A., & Rikah. (2020). PENGGUNAAN MEDIA SOSIAL INSTAGRAM DAN LITERASI KEUANGAN TERHADAP PERILAKU KONSUMTIF BERBELANJA ONLINE GENERASI MILENIAL. JAB, 06(01), 37–44.
Suratno, S., Rosmiati, R., & Siswono, E. (2021). PENGARUH ONLINE SHOP, LINGKUNGAN TEMAN SEBAYA DAN LITERASI KEUANGAN TERHADAP PEMBELIAN IMPLUSIF MAHASISWA JURUSAN PIPS FKIP UNIVERSITAS JAMBI. Jurnal Manajemen Pendidikan Dan Ilmu Sosial, 2(1), 61-75.
Tanoto, S., & Evelyn, E. (2019). FINANCIAL KNOWLEDGE, FINANCIAL WELLBEING, AND ONLINE SHOPPING ADDICTION AMONG YOUNG INDONESIANS. Jurnal Manajemen Dan Kewirausahaan, 21(1), 32–40. https://doi.org/10.9744/jmk.21.1.32-40.
The National Financial Educator Council. (2020). Financial Literacy Program. Financial Education Resources and Solutions by the NFEC (financialeducatorscouncil.org) (Online) 5 Agustus 2021.
Tupamahu, F. A. S., & Balik, D. (2020). Efek Moderasi Kontrol Diri pada Hubungan Sifat Materialisme Terhadap Pembelian Impulsif Online. PUBLIC POLICY (Jurnal Aplikasi Kebijakan Publik & Bisnis), 1(2), 115-136.
Triwidisari, A., Nurkhin, A., & Muhsin, M. (2018). The Relationships Between Instagram Social Media Usage, Hedonic Shopping Motives and Financial Literacy on Impulse Buying. Dinamika Pendidikan, 12(2), 170–181. https://doi.org/10.15294/dp.v12i2.13565.
Winatha, R., & Sukaatmadja, I. (2014). Pengaruh Sifat Materialisme Dan Kecanduan Internet Terhadap Perilaku Pembelian Impulsif Secara Online. E-Jurnal Manajemen Universitas Udayana.
Copyright (c) 2022 Mega Noerman Ningtyas, Amelindha Vania
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. The author(s) hold the copyright of the article without restrictions.
2. The author(s) retain publishing rights without restrictions
3. The legal formal aspect of journal publication accessibility refers to Creative Commons Attribution (CC BY).
