Drivers of Gen Y and Gen Z’s intention to invest in Sharia-compliant digital gold in Indonesia

Purpose This study aims to examine the determinants of Gen Y and Gen Z’s intention to invest in Sharia-compliant digital gold in Indonesia by testing an extended technology acceptance model (TAM). Design/methodology/approach This study employed a quantitative, cross-sectional design using an online questionnaire distributed through purposive sampling. Data were collected from 430 Indonesian Muslim Gen Y and Gen Z respondents familiar with Sharia-compliant digital gold platforms. The data were analyzed using partial least squares structural equation modeling. Findings The results indicate that perceived trust significantly influences investment intention, attitude, perceived usefulness (PU) and perceived ease of use (PEU). Perceived risk negatively affects attitude but does not significantly impact investment intention, PU or PEU. Financial health and innovativeness positively influence attitude, while PEU significantly enhances PU. Attitude plays a crucial role in shaping investment intention. Research limitations/implications This study focuses exclusively on Sharia-compliant digital gold platforms as a specific type of digital investment. This study contributes to the literature by examining the roles of perceived trust, perceived consumer innovativeness, perceived risk, perceived financial health, PEU, PU and attitude in explaining the investment intention of Indonesian Muslim Gen Y and Gen Z users. However, the findings should be interpreted within the specific context of Indonesian Muslim Gen Y and Gen Z consumers and may not be directly generalizable to other generations, demographic groups or Muslim-majority countries. Practical implications Financial institutions and fintech platforms should prioritize trust-building strategies, enhance platform usability and promote financial well-being to attract Gen Y and Gen Z investors. Marketing efforts should focus on fostering positive attitudes and emphasizing innovativeness to encourage investment in Sharia-compliant digital gold platforms. Originality/value This research extends the existing TAM by incorporating financial health and innovativeness as key factors, specifically in the context of Sharia-compliant digital gold investment. It offers new insights into Islamic financial technology and contributes to the literature on fintech adoption among younger investors in Muslim-majority countries.