This study aims to analyze the effect of consumer's perceived value and browsing activity to impulse buying behavior, and the influence of moderation from source of online review (consumers and influencers). The context of this research is food and beverage products on Instagram. This research was conducted using convenience sampling method with a total of 165 respondents who live in Indonesia, have an Instagram account, have browsed on Instagram, and have seen online reviews of food and beverage products on Instagram. The data in this study were processed using Smart PLS 3 with the PLS-PM method. The results of this study show that the consumer's perceived value, both utilitarian and hedonic, positively influences impulse buying behavior on consumers, with browsing and urge to buy impulsively as mediation. The results of the moderation test prove that there is no moderation effect from the sources of online review.