The Influence of Buy Now, Pay Later (BNPL) Features and Impulsive Buying on Financial Distress among Generation Z through a Hedonic Lifestyle

Christina Lumban Gaol; Ahmad Albar Tanjung

doi:10.55681/economina.v5i8.3594

Authors

Christina Lumban Gaol Sekolah Tinggi Ilmu Manajemen Sukma, Medan, Indonesia
Ahmad Albar Tanjung Sekolah Tinggi Ilmu Manajemen Sukma, Medan, Indonesia

DOI:

https://doi.org/10.55681/economina.v5i8.3594

Keywords:

Buy Now Pay Later (BNPL), impulsive buying, Financial Distress Risk, Hedonic Lifestyle, Generation Z

Abstract

The rapid development of digital financial services and the high level of consumerism among Generation Z have increased the risk of financial distress due to the use of Buy Now, Pay Later (BNPL) services, impulsive buying behavior, and a hedonistic lifestyle. This study aims to analyze the influence of Buy Now, Pay Later (BNPL) features and impulsive buying on financial distress among Generation Z, with a hedonistic lifestyle serving as an intervening variable. This research employed a quantitative approach using an associative research design. Data were collected through questionnaires distributed to 100 Generation Z respondents who had previously used BNPL services. The data were analyzed using Structural Equation Modeling (SEM) based on the Partial Least Squares (PLS) approach with the assistance of SmartPLS software to examine both the direct and indirect relationships among the research variables. The findings indicate that the use of BNPL features and impulsive buying behavior have a positive and significant effect on financial distress, both directly and indirectly through a hedonistic lifestyle as the intervening variable. The results are expected to provide valuable insights for Generation Z to use digital financial services more responsibly, enhance self-control, and improve financial management practices in order to reduce the risk of financial distress.

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