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This research associates hedonic and utilitarian values with purchase intention in millennials, indicating hedonic value's greater influence.
The COVID-19 pandemic has raised public awareness about the importance of investing, demonstrating that investing can have a positive impact. This study aims to analyze the effects of utilitarian and hedonic values on the purchase intention of online investment applications among millennials. This research is associative in nature, involving 130 respondents. The sampling technique employed was a survey using a questionnaire, and data analysis was conducted using the Partial Least Squares (PLS) method. The results indicate that both utilitarian and hedonic values have a positive and significant influence on the purchase intention of online investment applications. Furthermore, the findings reveal that hedonic value has a greater impact than utilitarian value, suggesting that users of online investment apps are more oriented toward hedonic value compared to utilitarian value
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Putranti et al. (2025) studied this question.
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