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The Impact of Tokopedia Flash Sale Promotion on Purchase Interest and Purchase Decisions of Students in Medan
Dewi Budhiarti July Isnaini1, T. Nurhaida2
1Universitas Amir Hamzah, Medan, Indonesia 2Politeknik Mandiri Bina Prestasi, Medan, Sumatera Utara [email protected], [email protected]
Abstract
The purpose of this study is to investigate how the promotion for the Tokopedia Flash Sale affected students in Medans purchasing intentions and interest. The authors used quantitative research methods in this study. The research population is product buyers/consumers who use Tokopedia, the sample is determined by 80 respondents. While a questionnaire was used as a data collection technique and a survey was used as a research instrument. The study demonstrates that consumers' interest in purchasing is significantly affected by the Flash Sale. Additionally, Flash Sale's contribution to Tokopedias explanation of Medan students' interest in purchasing is 32.71% and additional non-involved variables have an impact on the remaining 67.29. Additionally, purchasing decisions are significantly influenced by Flash Sales. Furthermore, the commitment of Flash Sales at Tokopedia to understudies in Medan in going with buying choices was 41.1% and the leftover 58.9% was made sense of by factors excluded from this review. Thus, the results of this study reveal that students in Medan have a tendency to have an interest in buying and then make a purchase decision on a product because of promotions such as Flash Sale. Thus, Tokopedia as an online shopping store is quite successful in attracting consumer interest in selling its products with the Flash Sale program Keyword: flash sales; buying interest; purchase decisions; student
I. INTRODUCTION
The development of current technology causes people's lifestyles to become more instantaneous. This is due to the fact that the majority of people have a high level of daily mobility.so that people frequently seek out things that are immediate and practical for meeting their daily needs. The field of social media is one that is progressing quickly. As the fastest marketing tool, the use of the internet as a global media has now gained traction. This progress is none other than intended to fulfil increasingly diverse human needs. The internet has become part of the lives of Indonesian people because it has various benefits such as learning, working, communicating and shopping activities that can be done easily and without restrictions.
Online shopping is becoming a trend that can fulfil all the needs of society. By shopping online, buyers can communicate with sellers using only internet-connected gadgets, making it easier and more practical. This of course facilitates the continuity of the community because there is no need to bother coming to the store to buy goods. And in this era of globalization, online shopping trends are starting to be in great demand because online shopping is not as complicated as offline shopping at stores because buyers will choose and decide for themselves, saving time and making transactions easier. Lazada, Tokopedia, Elevenia, Blibli.com, MatahariMall.com, and Shopee Indonesia are just a few of the e-commerce platforms available in Indonesia right now for online shopping. Tokopedia is ranked first in
terms of number of visitors and is one of Indonesia's most popular e-commerce sites.as depicted by the data in the figure below..
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Figure 1. Average Number of Visitors to the Tokopedia Website per Month (Quarter I 2019-Quarter II
2022)
Figure 1 shows that data indicate that Tokopedia is Indonesia's most popular e-commerce site. in the second quarter of 2022. According to data compiled by I Price, during this period Tokopedia had an average of 158.3 million website visitors per month, the highest compared to its competitors. Before the pandemic, namely in the third quarter of 2019, Tokopedia only had 65.9 million website visitors per month. Then, at the beginning of the pandemic in the first quarter of 2020, Tokopedia visitors dropped slightly, but after that the trend continued to increase as shown in the chart. The number of people visiting the Tokopedia website increased by approximately 140 percent from the third quarter of 2019 to the second quarter of 2022 if all data is taken into account.
A consumer's behaviour of responding to items that indicate their desire to purchase is known as "purchase intention. "The customer's intention to purchase particular goods and the quantity of those goods required over a given time frame are related to purchase intention. People who intend to buy a product will be motivated to engage in a series of behaviours in order to approach or acquire it. Kotler and Keller (2016)
In attracting consumer purchasing decisions, many factors need to be considered, including price, trust, and promotion. Price greatly influences the intention to buy from an online store at Tokopedia, this is in accordance with the opinion expressed by Herlambang (2014) that price is the amount of money or goods required to acquire a selection of other goods and services. When making a purchase decision, consumers will put a significant amount of weight on price. Customers will look at the prices of the products they choose and decide if they are reasonable in light of the product's value and the amount of money they need to spend. When making online purchases on the Tokopedia website, price has traditionally been the primary factor.
In attracting Tokopedia customers, they always make programs that can attract users to use Tokopedia and provide the best service compared to other marketplaces, which are now starting to grow in Indonesia. In order to maintain its existence among the public and become one of the permanent applications for shopping and buying online. Starting from the Free Shipping offer program throughout Indonesia with a minimum of IDR 20,000, discount coupons, to big discounts at various stores sold on the Tokopedia marketplace. Apart from that, what attracts users today is a discount program with a certain period of time, which is often called a Flash Sale.
In addition to competition between other online shopping sites, the current type of consumer is also very sensitive to the price of a product he wants, especially among students, such as students in Medan. They will compare the price of one product with the price of another product and be considered in terms of affordability and benefits derived from the product and pay attention to the promotion of the products offered. Tokopedia was chosen as the object of research, because since its first launch Tokopedia experienced an increasing number of visitors. In addition, One of the local ecommerce websites with the most monthly visitors is Tokopedia, namely 73,940,000 taken from various types of media platforms owned by Tokopedia.
Based on the description above, this study analyses how the influence of the Tokopedia flash sale promo has on buying interest and purchasing decisions of students in Medan.
II. REVIEW OF LITERATURE
2.1 Tokopedia
Tokopedia is a company that trades electronically and is also known as an online shop. Tokopedia has grown into a unicorn that is influential not only in Indonesia but also in Southeast Asia since it was founded in 2009.Tokopedia is currently one of Indonesia's most popular marketplaces. Tokopedia also helps individuals and Micro, Small, and Medium Enterprises (MSMEs) grow their businesses by allowing them to sell their products online to the government and other parties. The annual MAKERFEST event, which has been held since March 2018, is one of the collaborative programs that Tokopedia started. (Wikipedia)
2.2 Flash Sale
Flash sale is one of the product offerings with a limited price and limited quantity in a short time. A flash sale, also known as a "daily deal," is a part of a sales promotion in which customers can get a special deal or discount on some products for a short time. Customers are very interested in this short offer because the item they want is much cheaper during the flash sale program than it would normally be. Tokopedia also provides a notification feature that will appear 10 minutes before the flash sale takes place so that consumers don't miss the offer. (Aribowo et al., 2020).
2.3 Purchase Interest
A consumer's behaviour that demonstrates the extent of his commitment to making a purchase is known as "purchase intention. "Customers' behaviour when purchasing products is influenced by the changing needs and desires they have for goods and services. Behaviour of consumers when making decisions about what to buy, where to buy it, when to buy it, how much to buy it, and why to buy it. The tendency of consumers who are interested in purchasing a product or service at various stages of the level of possibility is known as purchase intention. A process of observation or attention that is followed by realization in buying is what causes consumers to develop an interest in purchasing. According to Kotler (2008), The term "buying interest" refers to a state of mind that develops in response to a stimulus from a product, such as an interest in trying the product before making a decision to buy.
2.4 Purchase Decision
Purchasing decision is a process carried out by consumers, namely seeking information about products and evaluating these products properly as an alternative, so that later consumers make purchasing decisions on predetermined products (Tjiptono, 2012). The use of social media as a marketing tool and making decisions about what to buy are closely linked. It can be said that marketing activities using social media are a stimulus for consumers to be able to purchase a product. Through social media, companies get benefits such as access to information distribution more quickly, flexibly or efficiently, influencing consumers to buy products with attractive visual content displays, attracting new consumers, or increasing production quantities.
2.5 Students
A student is someone who is enrolled in one type of higher education academics, polytechnics, high schools, institutes, and universities and is in the process of learning or studying. (Hartaji, 2012) A student's developmental stage ranges from 18 to 25 years old. From a developmental perspective, the task of development at this student age is to stabilize life stances. This stage can be classified as late adolescence to early adulthood (Yusuf, 2012). Based on the description above definition, a student is a student between the ages of 18 and 25 who is registered and enrolled in a tertiary institution an academic, polytechnic, high school, institute, or university.
III. RESEARCH METHODS
The authors used quantitative research methods in this study which can also be interpreted as an approach that aims to test theories, build facts, and test predetermined hypotheses (Sugiyono, 2008). This research was conducted on college students in Medan as Tokopedia users. The research population is product buyers/consumers who use Tokopedia, the sample is determined by 80 respondents. While a questionnaire was used as a data collection technique and a survey was used as a research instrument. The process of distributing the questionnaire is online using the Google Form application feature. The distribution uses a questionnaire link which is then distributed through several social media applications including WhatsApp, Instagram, and other social media.
Data analysis techniques used in this research are validity and reliability tests, normality tests, correlation and regression analysis. Test the validity and reliability of 20 statement items. The statement item is said to be valid if the value is r> 0.03 and the instrument is said to be reliable if the reliability value is more than 0.7. Based on the results of the validity and reliability tests, a reliability value of 0.911 means reliable and of the 20 statement items all statement items have a correlation value (r) of more than 0.3. The normality test is said to be normal if the sig value is more than 0.05. The normality test results for Flash Sale are 0.110, buying interest is 0.200 and purchasing decisions are 0.200. Thus, the three variables can be said to be valid.
IV. RESULTS AND DISCUSSION
The research was conducted through a survey method by collecting data through questionnaires. Data collection was carried out in November 2022. The research data collected by a total of 80 questionnaire respondents was distributed to respondents, namely students in Medan who are Tokopedia users. Based on existing data, the following is an illustration of the impact of a Flash Sale on Consumer Interest in Buying and Purchase Decisions at Tokopedia.
Table 1. Variable Data Statistics Descriptive
Variable N Range Min Max Sum Mean Var
Flash sale 80 14 12 28 1914 22.52 11.916
Buying interest 80 16 22 32 2445 28.76 13.412
Purchasing Decision 80 22 13 34 2186 28.73 18.410
Source: Primary data processed (2022)
Table 1 is shown that the lowest (or highest) value of respondents in answering Flash Sale statements was 12(28), buying interest was 22(32) and purchasing decisions were 13(34). The average Flash Sale value is 22.52, purchase intention is 28.76 and purchase decision is 25.73.
4.1 Effect of a Flash Sale on Interest in Buying by Customers
The study's findings regarding the impact of flash sales on consumer interest in purchasing are presented in table 2 as follows:
Table 2. t test Flash Sale on consumer purchase interest
Model Unstandardized Coefficient Standardized Coefficient
B Std. Error Beta T Sig
Constanta 14.876 2.159 6.884 .000
Flash Sale .615 .093 .549 6.505 .000
Source: Primary data processed (2022)
In this study, the impact of the Flash Sale on consumer interest in purchasing is significant the value 0.000 <0.05, so Flash Sale has a significant influence on interest in consumer purchases. Flash Sale also has a significant relationship with interest in consumer purchases a correlation value of 0.549 (moderate and positive). Flash Sale's contribution in explaining buying interest was 32.71% and the remaining 67.29 was explained by other variables. The aftereffects of this study are in accordance with the examination of Herlina et al. (2014), that consumer interest in purchasing is significantly influenced by the Flash Sale Countdown Timer.
4.2 The Effect of Flash Sale on Product Purchasing Decisions
The study's findings on the impact of flash sales on consumers' product purchasing decisions are presented in table 3 as follows:
Table 3.t test Flash Sale on product purchasing decisions
Model Unstandardized Coefficient Standardized Coefficient
B Std. Error Beta T Sig
Constanta 7.391 2.340 3.154 .000
Flash Sale .812 .101 .654 7.921 .000
The significant value is based on the results in table 3 is 0.000 <0.05, Therefore, purchasing decisions are significantly influenced by Flash Sales. Flash Sale also has a significant relationship with purchasing decisions with a correlation value of 0.654. The contribution that the Flash Sale makes to the explanation of purchasing decisions is 41.1% and The remaining 58.9% can be explained by other factors. This result is in line with the previous results, namely Flash Sale also has a significant influence on consumer buying interest. Thus, this is in line with the previous explanation that before someone decides to make a purchase, someone must have an interest in buying first.
4.3 Discussion
According to the findings of the study, there is a relationship between the Flash Sale independent variable and the dependent variable, which is students' interest in purchasing products and their decisions about which products to buy.
It is known through the results shown in table 2, The value of 0.000 <0.05 the Flash Sale's impact on consumer interest in purchasing is significant. So, Flash Sale has a significant influence on consumer buying interest. Flash Sale also has a significant relationship with consumer buying interest with a correlation value of 0.549 (moderate and positive). Flash Sale's contribution in explaining buying interest was 32.71% and the remaining 67.29 was explained by other variables. In the interim, the impact of Flash Sale's on buying choices likewise makes a massive difference, where the sig value is 0.000<0.05, so Flash Sale has a significant influence on purchasing decisions. Flash Sale also has a significant relationship with purchasing decisions with a correlation value of 0.654. The contribution that the Flash Sale makes to the explanation of purchasing decisions is 41.1% and the remaining 58.9% is explained by other variables. This result is consistent with the previous ones, namely that the Flash Sale has a significant impact on consumer interest in purchasing.
As a result, the findings of this study show that promotions like the Flash Sale tend to pique the interest of students in Medan and encourage them to make a purchase decision. Thus, Tokopedia as an online shopping store is quite successful in attracting consumer interest in selling its products with the Flash Sale program.
V. CONCLUSION
It is possible to draw the conclusion, based on the findings of the research and discussion, that the Flash Sale has a significant impact on consumer interest in purchasing. Additionally, Flash Sale's contribution to Tokopedia's explanation of Medan students' interest in purchasing is 32.71% and additional non-involved variables have an impact on the remaining 67.29 %. Additionally, purchasing decisions are significantly influenced by Flash Sales. Furthermore, the commitment of Flash Sales at Tokopedia to student in Medan in going with buying product was 41.1% and the leftover 58.9% was made sense of by factors excluded from this study. Thus, the results of this study reveal that students in Medan have a tendency to have an interest in buying and then make a purchase decision on a product because of promotions such as Flash Sale. Thus, Tokopedia as an online shopping store is quite successful in attracting consumer interest in selling its products with the Flash Sale program.
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