Digital Consumption and Generation Z: The Roles of Digital Payment, Social Media, Financial Literacy, and Self-Control

Velisia; Ramadania; Uray Ndaru Mustika; M. Ridwan Ristyawan; Anggraini Syahputri

doi:10.61987/jemr.v5i5.3045

Authors

Velisia Universitas Tanjungpura
Ramadania Universitas Tanjungpura
Uray Ndaru Mustika Universitas Tanjungpura
M. Ridwan Ristyawan Universitas Tanjungpura
Anggraini Syahputri Universitas Tanjungpura

DOI:

https://doi.org/10.61987/jemr.v5i5.3045

Keywords:

Digital Payment, Financial Literacy, Self-Control

Abstract

This study aims to examine the effects of digital payment, social media, and financial literacy on the excessive purchasing behavior of Generation Z, as well as to investigate self-control as a moderating variable. This study employed a quantitative approach using a questionnaire distributed to Generation Z respondents. Respondents were selected using purposive sampling with a non-probability sampling technique. A total of 212 respondents were determined using the Slovin formula. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with SmartPLS. The findings indicate that digital payment, social media, and financial literacy significantly affect consumptive behavior. Self-control does not moderate the effects of digital payment and social media on consumptive behavior. However, self-control significantly moderates the relationship between financial literacy and consumptive behavior. These findings highlight the importance of strengthening financial literacy and self-control among Generation Z to encourage more responsible purchasing behavior and reduce excessive consumption in the digital era.

References

Adawiyah, I. A., & Widiastuti, A. (2026). The Influence of Social, Lifestyle, Digital Financial Literacy, and Ease of Use on Digital Payment Use among Gen Z. Journal of Management: Small and Medium Enterprises (SMEs), 19(1), 95–112. https://doi.org/10.35508/jom.v19i1.27400

Akbar, A., Gami, E. R. P., Tumanggor, M. B., & Azzahra, N. (2026). The Influence of Financial Planning and Self-Control on Generation Z’s Consumptive Behavior on E-Commerce Platforms. Journal of Innovative and Creativity, 6(1), 4919–4932. https://doi.org/10.31004/joecy.v6i1.7498

Bakry, M. I., Pakawaru, M. I., Muliati, Mile, Y., Ainil, A., & Tandra, M. (2025). The Role of Financial Literacy in Moderating the Influence of Digital Payments and Lifestyle on Financial Management Behavior of Generation Z in Palu City. International Journal of Economics and Management Review, 3(3), 87–105. https://doi.org/10.58765/ijemr.v3i3.365

Chen, L. (2026). Digital Financial Literacy and Gen Z’s Consumption Behavior: Evidence from a Multi-Dimensional Analysis. Digital-Intelligent Economy and Scientific Management, 1(2), 38–59. https://doi.org/10.71204/73qjj079

Department, F., Sukamto, A. O., Chainanda, J., Nur, T., & Smith, E. (2024). Empowering Generation Z Digitally: The Role of Financial Literacy, Social Media, and Trust in Embracing Mobile Payment. 2024 3rd International Conference on Creative Communication and Innovative Technology (ICCIT), 1–6. https://doi.org/10.1109/ICIT62134.2024.10701135

Dewantoro, R., Sariani, S., & Suriono, H. (2025). Transformation of Generation Z’s Consumption Behavior in the Digital Ecosystem: A Theoretical Review of Social Media-Based Marketing Strategies. Priviet Social Sciences Journal, 5(5), 102–110. https://doi.org/10.55942/pssj.v5i5.619

Dewi, A. A. (2024). The Effect of Digital Payment on Generation Z’s Consumptive Behaviour. International Journal Administration, Business & Organization, 5(2), 75–85. https://doi.org/10.61242/ijabo.24.321

Elaine, A., Dharma, E. K., & Amelinda, R. (2025). The Impact of Financial Literacy, Self-Control, and Digital Payment Usage on Generation Z’s Consumer Behavior in West Jakarta. Journal of International Conference Proceedings, 8(1), 434–448. https://doi.org/10.32535/jicp.v8i1.3941

Hadi, D. P., Maulana, A. H., & Ramadhan, G. J. M. (2026). Digital Payments, Social Commerce, and Consumptive Behavior among Generation Z: A Systematic Literature Review and Implications for Digital Micro, Small, and Medium Enterprises. Lentera Negeri. https://doi.org/10.29210/992470

Hakim, R. F., Selpi, S., Najdain, N., Sirait, R. J., Alawi, F. F., Rahmayati, R., & Rahma, P. N. (2026). Analisis Peran dan Dampak Perkembangan Teknologi Digital terhadap Pembentukan Perilaku Konsumtif Generasi Z. Prosiding Seminar Nasional Ilmu Pendidikan. https://doi.org/10.62951/prosemnasipi.v3i1.213

Hidayati, R., Ardhini, P., Ashuratirana, N., Tanjung, K., Sari, N. A., & Nuraya, A. S. (2025). Generation Z’s Consumption and Savings Preferences Amidst Economic Uncertainty: A Thematic Analysis Approach. Jurnal Ilmu Manajemen & Ekonomika, 17(2), 1–?. https://doi.org/10.35384/jime.v17i2.789

Himong, L., Rae, S., Tobu, A., & Lian, Y. (2026). Kontribusi Perilaku Generasi Z terhadap Transformasi Kegiatan Ekonomi di Era Digitalisasi. Scientific Journal of Reflection: Economic, Accounting, Management and Business, 9(1). https://doi.org/10.37481/sjr.v9i1.1339

Idris, M., & Priono, H. (2025). Implications of Managerial Financial Literacy on Generation Z’s Consumptive Behavior. JIEMAN: Journal of Islamic Educational Management, 7(1). https://doi.org/10.35719/jieman.v7i1.287

Iqnatia, & Bidhari, S. C. (2026). QRIS in the Hands of Gen Z: Balancing Lifestyle, Literacy, and Locus of Control. JAF (Journal of Accounting and Finance), 10(1), 13–30. https://doi.org/10.25124/jaf.v10i1.10080

Laili, L. N., Sasana, M. Y., Haariz, M. Al, & Syahrin, M. A. (2026). Digital Literacy and Self-Control as Predictors of Ethical Online Behavior among Generation Z. Jurnal Penelitian dan Evaluasi Pendidikan. https://doi.org/10.64540/rg4jsy02

Ma’rufah, A., Artanti, D., Deswita, W. A., & Mahfud, Y. (2025). The Influence of Financial Literacy, E-Money Use, and Self-Control on Consumptive Behavior in Generation Z. SHS Web of Conferences, 217, 01004. https://doi.org/10.1051/shsconf/202521701004

Maisuroh, S., Jamil, M., & Manshur, U. (2024). The Role of Social Media in Enhancing Digital Literacy among Generation Z: A Social and Psychological Perspective. Journal of Social Studies and Education, 1(2). https://doi.org/10.61987/jsse.v1i2.457

Milki, T. G., Hailu, B. H., & Male, A. Y. (2026). Capable but Excluded: Unpacking the Systemic Barriers to Mathematics Education for Students with Blindness. Indonesian Journal of Education and Social Studies, 5(1), 14–39.

Musyarofah, B., Halifah, N., Sisran, S., & Fitri, Y. N. (2025). Project Based Learning (PBL) to Improve Listening Skills in Arabic Language Learning. Indonesian Journal of Education and Social Studies, 4(3), 337–347.

Oktavia, R. C. P. (2025). The Impact of Social Media on Lifestyle, Financial Literacy, and Consumptive Behavior of Generation-Z in the Perspective of Theory of Planned Behavior. International Journal of Advanced Engineering and Management Research, 10(2), 79–93. https://doi.org/10.51505/ijaemr.2025.1105

Perdana, B. S., Tamamudin, & Adinugraha, H. H. (2024). Integration of Financial Literacy and Ethical Values in Controlling Impulsive Buying in Generation Z on Social Media. El-Barka: Journal of Islamic Economics and Business, 7(1), 116–140. https://doi.org/10.21154/elbarka.v7i1.8812

Pratiwi, R., Kasofi, A., Usman, O., & Parlyna, R. (2026). The Effect of E-Wallet Usage and Digital Financial Literacy on Digital Investment Decisions among Generation Z: The Mediating Role of Financial Self-Efficacy. Journal of Strategic Marketing and Innovation. https://doi.org/10.64243/josmi.02.1.06

Pulawan, I., Widari, D., & Setena, M. (2025). The Influence of Financial Literacy on the Financial Behaviour of Generation Z: The Role of Social Media Moderation. International Journal of Research Publication and Reviews. https://doi.org/10.55248/gengpi.6.1025.3575

Septiani, E., Wagini, W., & Sudarsono, A. (2026). The Influence of Digital Payment, Social Media, E-Commerce, and Financial Literacy Use on the Consumer Behavior of Gen Z in Pondok Suguh District. Jurnal Akuntansi, Manajemen dan Bisnis Digital, 5(1), 181–192. https://doi.org/10.37676/jambd.v5i1.9962

Subekti, H., Ni’am, I., & Fauziyanti, W. (2026). Beyond Digital Payments: The Role of Financial Literacy and Social Preferences in Shaping Financial Self-Control. Asian Journal of Management Analytics, 5(2), 337–350. https://doi.org/10.55927/ajma.v5i2.16474

Sukma, I., Barus, L., Lasniroha, T., & Bayunitri, B. (2024). Navigating the Digital Financial Landscape: The Role of Financial Literacy and Digital Payment Behavior in Shaping Financial Management among Generation Z Student. Journal of Logistics, Informatics and Service Science. https://doi.org/10.33168/jliss.2024.0716

Zeinab, R., & Ruski. (2025). The Influence of Fintech E-Wallets and Self-Control on the Consumptive Behavior of Generation Z in Bangkalan: Efforts for Digital Financial Education and Literacy. Journal of Practice Learning and Educational Development, 5(2), 506–513. https://doi.org/10.58737/jpled.v5i2.472