Walking away: Investigating the adverse impact of FOMO appeals on FOMO-prone consumers

Abstract

Consumers prone to the fear of missing out (FOMO) are propelled by a compelling urge to imitate the behaviors of their peers, rendering them susceptible to purchasing triggers. Despite the pervasive use of FOMO in marketing, scant attention has been given to the assessments made by FOMO-prone consumers regarding potentially negative interactions with brands induced in this manner. This gap is significant because FOMO-induced behavior can be detrimental to psychological well-being. In this study, we interviewed 57 FOMO-prone consumers, employing the Critical Incident Technique. Our aim was to delve into the most impactful FOMO appeals and the cognitive, emotional, and behavioral effects caused by FOMO-induced purchases. While FOMO triggers can effectively prompt immediate purchases and lead to positive behavioral intentions, they frequently generate negative cognitive and emotional effects for consumers. The study categorizes FOMO-prone consumers into four distinct types based on their intention to recommend the brand and make similar purchases in the future: Butterflies, Devotees, Endorsers, and Shopaholics. The study enriches our understanding of consumer behavior and marketing by illuminating the adverse effects of FOMO appeals on consumers. In addition, it offers valuable insights for companies regarding the perceived manipulative nature of FOMO marketing appeals and its lasting impact on brands. Furthermore, it advocates a more ethical approach to sales to safeguard vulnerable, FOMO-prone consumers.