Ida Farida

The Impact Of E-Wallet And Social Media Adoption On The Financial Performance Of Culinary Msmes In Indonesia Post-Covid-19 Pandemic

Introduction

The impact of e-wallet and social media adoption on the financial performance of culinary msmes in indonesia post-covid-19 pandemic. Explore how e-wallet & social media adoption impacts Indonesian culinary MSMEs' financial performance post-COVID-19. Discover the synergistic effect of digital tech in creating an integrated ecosystem for sustainable growth.

Abstract

The COVID-19 pandemic has forced culinary MSMEs in Indonesia to accelerate the adoption of digital technology, especially e-wallets and social media, in order to survive and adapt to changes in consumer behavior. However, the continued impact of this adoption on financial performance in the post-pandemic era still needs to be further researched. This study aims to analyze the partial influence of e-wallet adoption, the partial influence of social media adoption, and the synergistic influence of both on the financial performance of culinary MSMEs in post-pandemic Indonesia. This quantitative research uses an online questionnaire of 425 culinary MSME actors selected using the purposive sampling technique. Data were analyzed using multiple linear regression analysis to test the relationships between variables. The results of the study prove that the adoption of e-wallets and social media individually has a positive and significant effect on financial performance. The most important finding revealed that the synergy of the two technologies had a greater impact, being able to explain 58.9% variation in improving financial performance through the creation of an integrated digital ecosystem. This study concludes that the adoption of e-wallets and social media does not only contribute individually, but most importantly the synergy between the two in creating a digital ecosystem that is able to transform business operations and marketing of culinary MSMEs, which ultimately leads to sustainable financial performance improvements post-pandemic. The practical implications emphasize the need for an integrated strategic approach in the adoption of digital technologies.

Review

This study presents a timely and highly relevant investigation into the impact of digital technology adoption, specifically e-wallets and social media, on the financial performance of culinary MSMEs in Indonesia during the crucial post-COVID-19 period. The research clearly articulates its objective to analyze both the individual and synergistic influences of these technologies. With a robust sample of 425 MSME actors and the application of multiple linear regression, the study's methodology appears sound for its quantitative aims. A significant strength lies in its key finding: while e-wallets and social media individually contribute positively, their synergy is paramount, explaining a substantial 58.9% variation in financial performance through the creation of an integrated digital ecosystem. This highlights a crucial dynamic often overlooked in singular technology adoption studies. While the abstract provides a compelling overview, certain details could enhance the study's impact and clarity. For instance, a more explicit description of how "financial performance" was operationalized and measured (e.g., specific metrics like revenue growth, profitability, or customer acquisition cost) would allow for a deeper understanding of the findings. Similarly, while "e-wallet" and "social media" are broad categories, identifying the most prevalent platforms or features investigated would provide richer context. Furthermore, while purposive sampling is mentioned, a brief justification of the specific criteria used for selection could offer greater confidence in the representativeness of the sample within the target population of culinary MSMEs. Expanding on the theoretical framework behind the "integrated digital ecosystem" and its measurable components could also strengthen the conceptual contribution. Overall, this research makes a valuable contribution by shedding light on the critical role of digital technology adoption for MSME resilience and growth in a post-pandemic landscape, particularly emphasizing the power of technological synergy. The findings offer significant practical implications, strongly advocating for an integrated strategic approach to digital transformation for MSMEs. Theoretically, the study extends our understanding of how combining digital tools can lead to superior outcomes, moving beyond isolated impacts. This paper undoubtedly offers important insights for entrepreneurs, policymakers, and academics interested in digital business strategies and economic recovery in developing economies.

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