How Buy Now, Pay Later (BNPL) is Shaping Gen Z's Spending Spree in Malaysia
Keywords:
Buy now pay later, theory of planned behavior (TPB), self-efficacy, extended TPB, attitude, Gen-Z
Abstract
This study seeks to examine the determinants that impact the inclination to utilize Buy Now, Pay Later (BNPL) services, with an emphasis on the perspective of Generation Z. The study examines the relationships between materialism, money management skills, self-efficacy, attitude, subjective norm, perceived behavioral control, and moral obligation in determining the intention to adopt BNPL. It utilizes a quantitative approach with a descriptive research style. Questionnaires were distributed to the Gen Z demographic, and a total of 440 responses were collected using Google Forms. The data were gathered through comprehensive field research, which involved an online survey, and later examined using SmartPLS 4.0. The findings highlight the significance of materialism, money management abilities, self-confidence, attitude, subjective norm, perceived behavioral control, and moral obligation in influencing the utilization of BNPL. The outcomes are highly significant for both advancing theoretical understanding and improving practical operations for BNPL providers. It facilitates a comprehensive understanding of the elements that impact the propensity to utilize BNPL, particularly from the perspective of Generation Z. Although acknowledging the limitations of targeting only Gen-Z, the research offers interesting insights and practical recommendations for BNPL service providers.
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References
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Gerrans, P., Baur, D. G., & Lavagna-Slater, S. (2021). Fintech and responsibility: Buy-now-pay-later arrangements. Australian Journal of Management, 47(3), 474–502.
Guo, J. L., Chang, Y. C., Lin, F. H., Fan, C. C., Lai, T. M., & Huang, C. M. (2023). User experience evaluation of a 3D virtual reality educational program for illegal drug use prevention among high school students: Applying the decomposed theory of planned behavior. Digital Health, 9, 20552076231171237.
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Hamid, F. S., & Loke, Y. J. (2020). Financial literacy, money management skills and credit card repayments. International Journal of Consumer Studies, 45(2), 235–247.
Han, H. and Kim, Y. (2010). An investigation of green hotel customers’ decision formation: developing an extended model of the theory of planned behavior. International Journal of Hospitality Management, 29(4), 659-668.
Hegawan, C. I. P., Faustine, T. M., Wijayanti, S., & Manaf, P. A. (2023). Exploring the influence of perceived usefulness and value of PayLater/BNPL on satisfaction, impulsive buying, and post-purchase intention. International Journal of Emerging Trends in Social Sciences, 15(1), 1–12.
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.
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Published
2024-10-05
How to Cite
Osman, I., Ariffin, N. A. M., Mohd Yuraimie, M. F. N. B., Ali, M. F. B., & Noor Akbar, M. A. F. B. (2024). How Buy Now, Pay Later (BNPL) is Shaping Gen Z’s Spending Spree in Malaysia. Information Management and Business Review, 16(3(I)S), 657-674. https://doi.org/10.22610/imbr.v16i3(I)S.4092
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Copyright (c) 2024 Ismah Osman, Nur Afizah Muhamad Ariffin, Muhammad Farhan Naim Bin Mohd Yuraimie, Muhammad Faiz Bin Ali, Muhammad Aziz Farhan Bin Noor Akbar
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