Gen Z Digital Investment Intentions: An Analysis of Financial Literacy, Social Media, and Privacy Issues

Economic uncertainty is inevitable for every individual, including Generation Z. One way to deal with this economic uncertainty is through financial planning, which also includes investment activities. This study aims to investigate the role of financial literacy, social media, and privacy concerns on investment intentions. This study involved 206 respondents who were Generation Z students in Semarang City, Indonesia. The results showed that financial literacy and the role of social media have a positive influence on Generation Z's intention to invest in digital platforms, while privacy concerns negatively affect their intention to invest in digital platforms. However, this study was unable to show a moderating relationship between privacy concerns and the role of social media and investment intentions in digital platforms.

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Publication Details

Journal
Journal of Social Commerce
Published
2025-09-28
DOI
https://doi.org/10.56209/jommerce.v5i3.183
Primary Topic
Technology Adoption and User Behaviour
Type
article
Field-Weighted Citation Impact
0.00
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article

Gen Z Digital Investment Intentions: An Analysis of Financial Literacy, Social Media, and Privacy Issues

Sri Endar Utami, Arum Febriyanti Ciptaningtias, Agni Astungkara, Triloka Mahesti
Journal of Social Commerce
Technology Adoption and User Behaviour
article

Gen Z Digital Investment Intentions: An Analysis of Financial Literacy, Social Media, and Privacy Issues

Sri Endar Utami, Arum Febriyanti Ciptaningtias, Agni Astungkara, Triloka Mahesti
article en

Abstract

Economic uncertainty is inevitable for every individual, including Generation Z. One way to deal with this economic uncertainty is through financial planning, which also includes investment activities. This study aims to investigate the role of financial literacy, social media, and privacy concerns on investment intentions. This study involved 206 respondents who were Generation Z students in Semarang City, Indonesia. The results showed that financial literacy and the role of social media have a positive influence on Generation Z's intention to invest in digital platforms, while privacy concerns negatively affect their intention to invest in digital platforms. However, this study was unable to show a moderating relationship between privacy concerns and the role of social media and investment intentions in digital platforms.

Journal of Social CommerceVol. 5(3)
State University of Semarang (ID), Politeknik Negeri Semarang
Openalex Percentile: Top 74%
Technology Adoption and User Behaviour
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