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The Impact of Financial Optimism on Impulse Buying Behavior: The Mediating Role of General Risk Propensity and the Moderating Effect of Digital Financial Literacy
Ahmad Bilal Ali, Shahzad Naveed Quddusi, Dr. Sardar Ahmad, and Amir Manzur Wain
Abstract:
The examination of financial optimism on impulse buying behavior includes analysis of general risk propensity as a mediator and digital financial literacy as a moderator. The study implements the Theory of Planned Behavior (TPB) to explain how financial optimism affects decision-making processes by affecting attitudes, perceived control, and intentions. A quantitative research design produced results from 164 respondents in Punjab, Pakistan, who responded at a 65.6% rate. The Hayes Process Macro, combined with SPSS, allowed researchers to run regression analysis and correlation analysis to study variable interactions. Financial optimism increases consumer behavior of impulsive buying, mainly by altering their propensity to take risks. The results showed that general risk propensity served as a mediating factor when tested through regression analysis, although digital financial literacy acted as a moderating factor according to analysis results. The results of the correlation analysis matched the predicted relationships between principal study constructs. Modern financial knowledge initiatives from public institutions will provide citizens with the empowerment to make sound, responsible financial decisions. Education professionals need to embed digital financial literacy within core educational curriculums while marketers require concentrating on moral promotional tactics. The research encounters three essential obstacles due to its experimental approach and data-acquisition procedures. Scientists must extend their research duration to study various participant populations while using experimental methods to validate their findings. Studies must investigate how personal self-control, together with monetary stress, affects consumer actions when evaluated using financial optimism evaluations alongside modern financial systems.
Keywords:
Financial Optimism, General Risk Propensity, Digital Financial Literacy, Theory of Planned Behavior
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