Adoption of Stock Investment Apps: Explaining the Effect of Sunk Cost, Inertia, and Perceived Need

The presence of a digital stock investment application is an innovation in financial services. Because the implementation of this application is relatively new in Indonesia, service providers need to understand how their consumers behave. Therefore, this study aims to explore inertia, sunk costs, and perceived need that affect the sustainability of using digital stock investment application services and the effect of inertia on perceived need. This study targets 180 stock investment application users using a purposive sampling technique. Questionnaires were distributed online through social media. The Partial Least Square-Structural Equation Modeling (PLS-SEM) statistical technique was used to answer the research hypothesis. The study's results prove that all hypotheses are accepted: sunk cost, inertia, and perceived need have a positive and significant effect on continuance intention, and inertia has a positive and significant effect on perceived need. Finally, the perceived need positively and significantly affects continuing intention to use stock investment applications. This research provides a signal to service providers in developing digital investment application features and services to provide a good investment experience for each of its users.