Has Buy Now Pay Later become a symbol of hedonistic lifestyle among young people?

Vol 8 No 5 (2025): Volume 08 Issue 05 May 2025

Article Date Published : 29 May 2025 | Page No.: 2569-2578 | Google Scholar | Crossref doi for this article

Abstract :

The advancement of technology and the internet has driven significant transformations in the global business landscape and consumer lifestyles. One notable innovation in financial technology (Fintech) is Buy Now, Pay Later (BNPL), a digital financial service that enables consumers to make purchases without immediate payment, thereby creating a more appealing and instant shopping experience. This service has gained substantial popularity among younger generations, particularly Generation Z, who account for 56.7% of Pay Later users. This study aims to analyze the influence of BNPL on hedonistic lifestyle, facility utilization, and impulsive buying behavior using a quantitative approach involving questionnaire distribution and analysis through Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal a positive relationship between BNPL usage and both facility utilization and hedonistic lifestyle, which ultimately contributes to increased impulsive buying behavior among young consumers in Indonesia.

Keywords :

Buy Now Pay Later, Financial Technology, Gen Z, hedonistic, impulsive buying, Lifestyle

References :

  1. Adirinekso, G. P. (2021). Minat dan Penggunaan Fintech PayLater Pekerja Urban Pelanggan Traveloka dan GoJek Sebelum dan Selama Pandemi Covid 19 di DKI Jakarta. Journal of Management and Business Review, 18(2), 327–342. https://doi.org/10.34149/jmbr.v18i2.283
  2. Alalwan, A. A., Baabdullah, A. M., Al-Debei, M. M., Raman, R., Alhitmi, H. K., Abu- ElSamen, A. A., & Dwivedi, Y. K. (2023). Fintech and contactless payment: Help or hindrance? The role of invasion of privacy and information disclosure. International Journal of Bank Marketing, ahead-of-print(ahead-of-print). https://doi.org/10.1108/IJBM-08-2022-0339
  3. Anggraini, R. T., & Santhoso, F. H. (2019). Hubungan antara Gaya Hidup Hedonis dengan Perilaku Konsumtif pada Remaja. Gadjah Mada Journal of Psychology (GamaJoP), 3(3), 131. https://doi.org/10.22146/gamajop.44104
  4. Aristanti, N. D. (2020). Pay Later, Kartu Kredit Zaman Now yang Ternyata Bisa Bikin Kalap Belanja! https://koinworks.com/blog/apa-itu-pay-later/
  5. Azzahra, W. (2022). Analisis Use Behavior Terhadap Pengguna Shopee Paylater Menggunakan Modifikasi Model UTAUT 2.
  6. Babin, B. J., & Attaway, J. S. (2000). Atmospheric Affect as a Tool for Creating Value and Gaining Share of Customer. Journal of Business Research, 49(2), 91–99. https://doi.org/10.1016/S0148-2963(99)00011-9
  7. Eviana, V., & Saputra, A. J. (2022). Analisis Faktor-faktor yang Mempengaruhi Minat Penggunaan Sistem Pembayaran Pay Later. Tambusai, 6(1), 1968–1977.
  8. Fornell, C., & Larcker, D. F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
  9. Ginantra, Janner, N. L., Purba, Tojiri, R. A., M. Y., Duwila, A. A, Siregar, & Siswanti. (2020). Teknologi Finansial: Sistem Finansial Berbasis Teknologi di Era Digital. Yayasan Kita Menulis.
  1. Gupta, Anil, Nikita, D, G., & Babu, G. (2017). What Determines Tourist Adoption of Smartphone Apps? An Analysis Based On The UTAUT2 Framework.
  2. Guttman-Kenney, B., Firth, C., & Gathergood, J. (2023). Buy now, pay later (BNPL) …on your credit card. Journal of Behavioral and Experimental Finance, 37, 100788. https://doi.org/10.1016/j.jbef.2023.100788
  3. Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203
  4. Henseler, J., Ringle, C. M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115–135. https://doi.org/10.1007/s11747-014-0403-8
  5. Hilmi, L. D., & Pratika, Y. (2021). Paylater Feature: Impulsive Buying Driver FOR E-COMMERCE IN INDONESIA. International Journal of Economics, Business and Accounting Research (IJEBAR), 5(2), Article 2. https://doi.org/10.29040/ijebar.v5i2.2337
  1. Hirschman, E. C., & Holbrook, M. B. (1982). Hedonic Consumption: Emerging Concepts, Methods and Propositions. Journal of Marketing, 46(3), 92–101. https://doi.org/10.1177/002224298204600314
  2. Islami, F., Rafidah, & Lubis, P. A. (2023). Pengaruh Penggunaan E-Money dan Sistem Pembayaran Shopee Paylater Terhadap Perilaku Konsumtif Mahasiswa FEBI UIN Sulthan Thaha Saifuddin Jambi dalam Perspektif Syari’ah. INFOTECH journal, 9(2), 339–344. https://doi.org/10.31949/infotech.v9i2.6072
  1. Iyer, G. R., Blut, M., Xiao, S. H., & Grewal, D. (2020). Impulse buying: A meta-analytic review. Journal of the Academy of Marketing Science, 48(3), 384–404. https://doi.org/10.1007/s11747-019-00670-w
  2. Joines, J. L., Scherer, C. W., & Scheufele, D. A. (2003). Exploring motivations for consumer Web use and their implications for e‐commerce.
  3. Kadua, N. C. P., Safitri, R. D., & Afiyah, R. N. (2023). Kajian Strategis Consumptive Behavior Dalam Penerapan Buy Now Pay Later di Shopee dengan Islamic Financial Literacy Sebagai Moderasi.
  4. Kollat, D. T., & Willett, R. P. (1967). Customer Impulse Purchasing Behavior. Journal of Marketing Research, 4(1), 21–31. https://doi.org/10.1177/002224376700400102
  5. Lantini, S. B. S., Maulana, R. A., Putri, M. A., & Kartini, E. (2023). Peran Otoritas Jasa Keuangan dalam Pengawasan Paylater pada Aplikasi Shopee. Universitas Tidar, 2, 2.
  6. Mukminin, A., Rachman, R., & Wahyudi, H. (2019). Penerapan Model UTAUT untuk Perilaku Pengguna “Paylater” di dalam Traveloka.
  7. Naufalia, V. (2022). Pengaruh Digital Payment dan E-Service Quality Terhadap Perilaku Konsumtif pada Pengguna Shopee Wilayah DKI Jakarta.
  8. Prabowo, M. T. (2021). Universitas Islam Sultan Agung Fakultas Ekonomi Program Studi AKuntansi Semarang 202.
  9. Prastiwi, I. E., & Fitria, T. N. (2021). Konsep Paylater Online Shopping dalam Pandangan Ekonomi Islam. Jurnal Ilmiah Ekonomi Islam, 7(1), 425. https://doi.org/10.29040/jiei.v7i1.1458
  10. Pratika, Y., Salahudin, S., & Ambarwati, T. (2021). Analysis of Pay Later Payment System on Online Shopping in Indonesia. Journal of Economics, Business, & Accountancy Ventura, 23. https://doi.org/10.14414/jebav.v23i3.2343
  11. Putri, N. M. E., & Andarini, S. (2022). Pengaruh Self Control dan Financial Attitude terhadap Financial Management Behavior pengguna Layanan Buy Now Pay Later. Jurnal Ekonomi Akuntansi Dan Manajemen, 21(1), 60–74. https://doi.org/10.19184/jeam.v21i1.30594
  12. Raj, V. A., Jasrotia, S. S., & Rai, S. S. (2023). Intensifying materialism through buy-now pay- later (BNPL): Examining the dark sides. International Journal of Bank Marketing. https://doi.org/10.1108/IJBM-08-2022-0343
  13. Rook, D. W. (1987). The Buying Impulse. Journal of Consumer Research, 14(2), 189–199. https://doi.org/10.1086/209105
  14. Sarstedt, M., Ringle, C. M., & Hair, J. F. (2017). Partial Least Squares Structural Equation Modeling. In C. Homburg, M. Klarmann, & A. Vomberg (Eds.), Handbook of Market Research (pp. 1–40). Springer International Publishing. https://doi.org/10.1007/978-3- 319-05542-8_15-1
  15. Suryadi, N., Linda, R., Yusnelly, A., Kusdiana, Y., & Rahma, S. (2022). Literasi Digital: Mewujudkan Penggunaan Uang Elektronik dalam bertransaksi dikalangan kaum Milenial di Kota Pekanbaru. Azam Insan Cendikia, 1(1), Article 1.
  16. Thamrin, H., & Saleh, A. A. (2021). Hubungan Antara Gaya Hidup Hedonis dengan Perilaku Konsumtif pada Mahasiswa. 11.
  17. Venkatesh, Morris, Davis, & Davis. (2003). User Acceptance of Information Technology: Toward a Unified View. MIS Quarterly, 27(3), 425. https://doi.org/10.2307/30036540
  18. Venkatesh, V., & Davis, F. D. (2000a). A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies. Management Science, 46(2), 186–204. https://doi.org/10.1287/mnsc.46.2.186.11926
  19. Venkatesh, V., & Davis, F. D. (2000b). A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies. Management Science, 46(2), 186–204. https://doi.org/10.1287/mnsc.46.2.186.11926
  20. Widawati, L. (2011). Analisis Perilaku “Impulse Buying” dan “Locus of Control” pada Konsumen di Carrefour Bandung. MIMBAR : Jurnal Sosial dan Pembangunan, 27(2), Article 2. https://doi.org/10.29313/mimbar.v27i2.320
  21. Zhong, J. Y., & Mitchell, V.-W. (2010). A mechanism model of the effect of hedonic product consumption on well-being. Journal of Consumer Psychology, 20(2), 152–162. https://doi.org/10.1016/j.jcps.2010.01.001

Author's Affiliation

   Yulisty Diar Rochma
Master of Management Study Program, Faculty of Economics and Business Universitas Sebelas Maret, Indonesia

   Retno Tanding Suryandari
Tenure Lecturer, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia

Copyrights & License

Yulisty Diar Rochma, Retno Tanding Suryandari, 2025

This work is licenced under a Creative Commons Attribution 4.0 International License.

Article Details

How to Cite :

Has Buy Now Pay Later become a symbol of hedonistic lifestyle among young people?. Yulisty Diar Rochma, Retno Tanding Suryandari, 8(5), 2569-2578. Retrieved from https://ijcsrr.org/single-view/?id=22722&pid=22324

Most read articles by the same author(s)

Yulisty Diar Rochma, Retno Tanding Suryandari,

View

195

Citation

Downloads

Article Details