THE EFFECT OF FINANCIAL LITERACY AND EWOM TOWARDS PURCHASING DECISION COSMETIC PRODUCT ACROSS TWO GENERATION
Abstrak
The ease of information related to a cosmetic product through electronic word of mouth and financial literacy owned by millennial and Z generations can trigger purchasing decisions. The purpose of this study was to analyze the effect of financial literacy and electronic word of mouth on purchasing decisions in millennial and Z generations. The study used an explanatory research study design and voluntary sampling technique with a total of 122 millennial and Z generation respondents in Indonesia. Based on the results of the research, both generations have financial knowledge and financial attitudes in the low category, and the millennial generation's financial behavior are in the high category and generation Z is in the medium category. The electronic word of mouth variable is in the low category and generation Z's purchasing decisions are in the medium to high category and the millennial generation are in the medium category. Regression test shows that the education, financial literacy have a significant negative effect on purchasing decisions, while electronic word of mouth has a significant positive effect on purchasing decisions. The government and related stakeholders need to provide education related to financial literacy and sort out the right information about a product.
Referensi
Adityandani, W., & Haryono, N. A. (2018). Pengaruh demografi, financial attitude, financial knowledge, dan suku bunga terhadap perilaku menabung masyarakat kota surabaya. Jurnal Ilmu Manajemen (JIM), 7(2), 316–326.
Aini, F. N., Susanti, S. (2021). Pengaruh literasi keuangan, kepercayaan, dan keamanan pembayaran terhadap keputusan pembelian di marketplace. E-Jurnal Ekon dan Bisnis Univ Udayana, 10(11), 991. https://doi.org/10.24843/eeb.2021.v10.i11.p06.
Amari, M., & Jarboui, A. (2015). Financial literacy and economics education among young adults: An observation from Tunisia. Journal of Business and Finance Librarianship, 20(3), 209–219. https://doi.org/10.1080/08963568.2015.978834.
Aprila, B. N. (2021). The correlation between demographic factors and gold purchase decision in. Procur J Ilm Manaj, 9(4), 405–414.
Ayuningtyas, M. F., & Irawan, A. (2021). the Influence of financial literacy on bandung generation z consumers impulsive buying behavior with self-control as mediating variable. Advanced International Journal of Business, Entrepreneurship and SMEs, 3(9), 155–171. https://doi.org/10.35631/aijbes.39012
Ayunita, Musikita, S. M. W. (2021). Pengaruh promosi melalui media sosial dan electronic word of mouth (e-wom) terhadap keputusan pembelian ( studi kasus pada online shopthyy thyy) di kota sorong. Jurnal BADATI Ilmu Sosial & Humaniora, 4(1), 42–53.
Baihaqqy, M. R. I. (2022). Pengaruh literasi keuangan terhadap perilaku keuangan dengan kelompok generasi sebagai mediasi dan moderasi. Coopetition : Jurnal Ilmiah Manajemen, 13(1), 73–78. https://doi.org/10.32670/coopetition.v13i1.1189
[BPS] Badan Pusat Statistik. (2021). Statistik Indonesia. Jakarta, ID: BPS.
Carrasco-Gallego, J. A. (2017). Introducing economics to millennials. International Review of Economics Education, 26, 19–29. https://doi.org/10.1016/j.iree.2017.08.002
Ferawati, F., Saadah, S., & Amrullah, A. (2019). Pengambilan keputusan konsumen pada pembelian beras di kota makassar. Jurnal Sosial Ekonomi Pertanian, 15(1), 1. https://doi.org/10.20956/jsep.v15i1.5800
Goyette, I., Ricard, L., Bergeron, J., & Marticotte, F. (2010). E‐wom Scale: Word‐of‐mouth measurement scale for e‐services context. Canadian Journal of Administrative Sciences/Revue Canadienne Des Sciences de l’Administration, 27(1), 5–23.
Hanum, N. (2018). Pengaruh pendapatan , jumlah tanggungan keluarga dan pendidikan terhadap pola konsumsi rumah tangga nelayan di desa seuneubok rambong aceh timur. Jurnal Samudra Ekonomika, 2(1), 75–84. https://ejurnalunsam.id/index.php/jse/article/view/779
Harjayanti, D. R., Rovita, A., & Yuwono, T. (2020). Pengaruh Tingkat pendidikan, tingkat literasi keuangan, instrumen literasi keuangan pada keputusan pembelian pada media online (studi kasus masyarakat di daerah tangerang selatan). Jurnal Mandiri : Ilmu Pengetahuan, Seni, Dan Teknologi, 4(2), 199–209. https://doi.org/10.33753/mandiri.v4i2.127
Herviani, V., Hadi, P., & Nobelson. (2020). Analisis pengaruh brand trust, e-wom, dan social media influencer terhadap keputusan pembelian lipstik pixy. Business Management, Economic, and Accounting National Seminar, 1(1), 1351–1363.
Humaidi, A., Khoirudin, M., Adinda, A. R., & Kautsar, A. (2020). The effect of financial technology, demography, and financial literacy on financial management behavior of productive age in Surabaya, Indonesia. International Journal of Advances in Scientific Research and Engineering, 06(01), 77–81. https://doi.org/10.31695/ijasre.2020.33604
Jain, V., & Arya, S. (2021). An overview of electronic commerce (e-commerce). Journal of Contemporary Issues in Business and Government, 27(3). https://doi.org/10.47750/cibg.2021.27.03.090
[Kemenperin RI] Kementerian Perindustrian Republik Indonesia. (2018). Kinerja industri kosmetik nasional lampaui pertumbuhan ekonomi. Retrieved from https://kemenperin.go.id/artikel/19435/Kinerja-Industri-Kosmetik-Nasional-Lampaui-Pertumbuhan-Ekonomi.
Kholilah, N. Al., Iramani, R. (2013). Studi financial management behavior pada masyarakat surabaya. J Bus Bank, 3(1), 69. https://doi.org/10.14414/jbb.v3i1.255.
Kotler, P., Armstrong, G., & Opresnik, M. O. (2018). Principles of Marketing (Electronic Version) (17th ed.). Pearson.
Kurniawan, A. W., & Puspitaningtyas, Z. (2016). Metode Penelitian Kuantitatif. In PANDIVA BUKU (Vol. 4, Issue 4). http://www.ncbi.nlm.nih.gov/pubmed/19528854%0Ahttp://libproxy.unm.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=51827937&site=eds-live&scope=site%5Cnhttp://content.ebscohost.com.libproxy.unm.edu/ContentServer.asp?T=P&P=AN&K=51
Kusberyunadi, M., Budiarto, & Wahyuni, S. (2014). Analisis faktor demografi dalam keputusan pembelian buah di kota yogyakarta. AgroUPY, 5(2).
Laturette, K., Widianingsih, L. P., Subandi, L. (2021). Literasi keuangan pada generasi z. J Pendidik Akunt, 9(1), 131–139. https://doi.org/10.26740/jpak.v9n1.p131-139.
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5
Luthfiyatillah, L., Millatina, A. N., Mujahidah, S. H., & Herianingrum, S. (2020). Efektifitas media instagram dan e-wom (electronic word of mouth) terhadap minat beli serta keputusan pembelian. Jurnal Penelitian IPTEKS, 5(1), 101–115. https://doi.org/10.32528/ipteks.v5i1.3024
Maharani, B., Pradana, M., & Wijaksana, T. I. (2016). Instagram electronic word of mouth’s effect towards purchasing decision arromanis corner store, Bandung, Indonesia. International Journal of Scientific Engineering and Applied Science (IJSEAS), 2, 145–150. www.ijseas.com.
Mahendra, M. M., Ardani, I. G. A. K. S. (2015). Pengaruh umur, pendidikan dan pendapatan terhadap niat beli konsumen pada produk kosmetik the body shop di kota denpasar. E-Jurnal Manaj Univ Udayana. 4(2):442–456.
Maulana, I., Manulang, J. M. br., & Salsabila, O. (2020). Pengaruh social media influencer terhadap perilaku konsumtif di era ekonomi digital. Majalah Ilmiah Bijak, 17(1), 28–34. http://ojs.stiami.ac.id.
Meitasari, D., Mutisari, R., Widyawati, W. 2020. Pengaruh sosio-demografis terhadap keputusan pembelian produk hortikultura pada online market. J Ekon Pertan dan Agribisnis, 4(4), 959–972.
Murairwa, S. (2015). Voluntary sampling design. Int J Adv Res Manag Soc Sci, 4, 185–200.
Nisa, F. K., Viratama, A. B., & Hidayanti, N. (2020). Analisis pencarian informasi remaja generasi z dalam proses pengambilan keputusan belanja online (analisis pada mahasiswa ilmu komunikasi universitas tidar). Komunikologi: Jurnal Pengembangan Ilmu Komunikasi Dan Sosial, 4(2), 146. https://doi.org/10.30829/komunikologi.v4i2.8377.
Nguyen, D. T. N., Hoang, S. D., Chovancová, M., Tran, K. H. (2022). The influence of the generation z’s perception and psychological ownership on repurchase intention of e-shopping: Evidence from vietnam. J East Eur Cent Asian Res, 9(2), 240–259. https://doi.org/10.15549/jeecar.v9i2.792.
[OJK] Otoritas Jasa Keuangan. (2017). Strategi nasional literasi keuangan nasional. Jakarta, ID : OJK.
Pebrianti, W., Arweni, A., & Awal, M. (2020). Digital marketing, e-wom, brand awareness dan keputusan pembelian kopi milenial. Jurnal Ilmu Ekonomi & Sosial, 11(1), 48–56. https://doi.org/10.35724/jies.v11i1.2848
Potrich, A. C. G., Vieira, K. M., & Kirch, G. (2015). Determinants of financial literacy: Analysis of the influence of socioeconomic and demographic variables. Revista Contabilidade e Financas, 26(69), 362–377. https://doi.org/10.1590/1808-057x201501040
Potrich, A. C. G., Vieira, K. M., & Paraboni, A. L. (2021). Youth financial literacy short scale: proposition and validation of a measure. Escola de Administração de Empresas de São Paulo. https://eaesp.fgv.br/sites/eaesp.fgv.br/files/u519/youth_financial_literacy_short_scale_ebfc_-_complete.pdf.
Pramudi, R.Y. (2015). Pengaruh gaya hidup konsumtif dan kelompok referensi terhadap keputusan pembelian kosmetik lokal. J Ris Ekon dan Manaj, 15(2), 280. https://doi.org/10.17970/jrem.15.150206.id.
Putri, F. A. P., Patrikha, F. D. (2021). Pengaruh e-service quality dan e-wom terhadap keputusan pembelian kosmetik di aplikasi soco. Jurnal Manajemen Strategi Dan Aplikasi Bisnis, 4(2), 449–460.
Restanti, F. A., Kusumawati, A., Devita, L. D. R. (2019). Pengaruh celebrity endorser dan electronic word of mouth terhadap minat beli dan dampaknya terhadap keputusan pembelian. J Adm Bisnis. 68(1), 28–37. http://administrasibisnis.studentjournal.ub.ac.id/index.php/jab/article/view/2796.
Sabri, M. F. (2018). Financial Capability and Utilization of financial Advisory Service In Malaysia. In MFPC.
Sholikhah, B., Fitri, R., & Mahanani, Y. (2021). Analisis pengambilan keputusan pembelian kosmetik berlabel halal mui pada generasi millenial. Al Maal: Journal of Islamic Economics and Banking, 2(2), 193. https://doi.org/10.31000/almaal.v2i2.3754
Sohn, S. H., Joo, S. H., Grable, J. E., Lee, S., & Kim, M. (2012). Adolescents’ financial literacy: The role of financial socialization agents, financial experiences, and money attitudes in shaping financial literacy among South Korean youth. Journal of Adolescence, 35(4), 969–980. https://doi.org/10.1016/j.adolescence.2012.02.002
Sumarwan, U. (2011). Perilaku konsumen. (2nd Eds). Bogor, ID: Ghalia Indonesia.
Suprayitno, A., Rochaeni, S., Purnomowati, R. (2015). Pengaruh faktor budaya, sosial, pribadi, dan psikologi konsumen terhadap keputusan pembelian pada restoran gado-gado boplo (studi kasus: restoran gado-gado boplo panglima polim jakarta selatan). Agribus J, 9(2), 177–214. https://doi.org/10.15408/aj.v9i2.5293.
Susanti, Hardini, H. T., & Bahtiar, M. D. (2020). The Effect of Financial Literacy, Financial Technology, and Digital Promotion on Online Purchasing Decisions in the Covid-19 Pandemic Era. 491(Ijcah), 1382–1389. https://doi.org/10.2991/assehr.k.201201.234
Susanto, A., & Handayani, R. T. (2020). The Influence of e-trust, user’s experiences, and brand equity on gen z female customers e-loyalty towards imported cosmetics brands through customers e-satisfaction. International Journal of Social Science and Business, 4(2), 294–300. https://doi.org/10.23887/ijssb.v4i2.25727
Ulrica T, Lego Y. 2021. Pengaruh pengetahuan produk, keterlibatan produk, dan e-wom terhadap niat pembelian produk max factor pada mahasiswi fakultas ekonomi dan bisnis universitas tarumanagara melalui website sociolla di jakarta. J Manajerial dan Kewirausahaan. III(2):491–499.
Wahyuni, R., Irfani, H., & Syahrina, I. A. (2019). Pengaruh gaya hidup dan literasi keuangan terhadap perilaku konsumtif berbelanja online pada ibu rumah tangga di kecamatan lubuk begalung kota padang. Jurnal Benefita, 4(3), 548–559.
We Are Social. (2019). All data and trends you need to understand internet, social media, mobile, and e-commerce behaviors in 2019. [diakses 2022 Juni 9]. Retrieved from https://datareportal.com/reports/digital-2019-ecommerce-in-indonesia
We Are Social. (2021). Digital 2021: The latest insights into the ‘state of digital. [diakses 2022 Juni 9]. Retrieved from https://wearesocial.com/uk/blog/2021/01/digital-2021-the-latest-insights-into-the-state-of-digital/.
Wiridjati, W., Roesman, R. R. (2018). Fenomena penggunaan media sosial dan pengaruh teman sebaya pada generasi milenial terhadap keputusan pembelian. J Manaj dan Pemasar Jasa, 11(2), 275–290. https://doi.org/10.25105/jmpj.v11i2.2950.
Yuliati, U. (2013). Faktor -faktor yang mempengaruhi konsumen dalam pembelian makanan jajan tradisional di kota malang. Manajemen Bisnis, 1(1), 7. https://doi.org/10.22219/jmb.v1i1.1318
