The Psychological Pull of FoMO in Consumer Behavior: a Literature Review
DOI:
https://doi.org/10.61132/ijems.v1i4.373Keywords:
Fear of Missing Out (FoMO), Consumer Behavior, Social Media Marketing, Consumer Satisfaction, Impulse PurchaseAbstract
The purpose of the research is to find out FoMO in analyzing customer satisfaction. SLR method in writing this article, literature review plays an important role in formulating research ideas, understanding previous findings related to the topic raised, and identifying gaps in existing knowledge. A systematic literature review (SLR) was conducted in two well-known databases, ScienceDirect and Scopus. After applying inclusion and exclusion criteria, 1,098 out of 3,977 articles were deemed relevant. Thereafter, these papers were carefully examined to produce an in-depth analysis of the subject. Ultimately, 13 papers were selected for in-depth examination in this study. Based on data from SLR the articles were written between 2021 and 2024. The research methodology used in this paper includes descriptive analysis and bibliographic analysis. The results of writing the article found that Fear of Missing Out (FoMO), which capitalizes on the feeling of fear of missing an opportunity, is proven to increase consumer confidence to make a purchase immediately. Effective marketing strategies in leveraging Fear of Missing Out (FoMO) often involve elements of time constraints and product popularity that can trigger impulsive behavior in consumers. Social media marketing also plays an important role by creating interactions that attract consumers through trending content. The findings in this study enable brands to strengthen emotional connections with consumers, expand reach, and drive engagement in purchase decisions.
Downloads
References
Adnan, N., Nordin, S. M., bin Bahruddin, M. A., & Ali, M. (2018). How trust can drive forward the user acceptance to the technology? In-vehicle technology for autonomous vehicles. Transportation research part A: policy and practice, 118, 819-836.
Alfina, Hartini, S., & Mardhiyah, D. (2023). FOMO related consumer behavior in marketing context: A systematic literature review. Cogent Business & Management, 10(3), 2250033.
Bayhaqi, H. N., Sulaiman, S., Darmawan, D., Arifin, S., Rizky, M. C., Munir, M., & Putra, A. R. (2024). Implementation of digital marketing strategies to increase sales at Super Baret convection microbusiness in Kampung Topi Punggul Sidoarjo. Economic Xenization Abdi Masyarakat, 2(2), 6-12.
Chinese Consumers' Herd Consumption Behavior Related to Korean Luxury Cosmetics: The Mediating Role of Fear of Missing Out
Flecha Ortiz, J. A., Santos Corrada, M., Perez, S., Dones, V., & Rodriguez, L. H. (2024). Exploring the influence of uncontrolled social media use, fear of missing out, fear of better options, and fear of doing anything on consumer purchase intent. International Journal of Consumer Studies, 48(1), e12990.
Hamizar, A., Karnudu, F., Relubun, D. A., & Saimima, S. (2024, April). Consumer impulse buying behavior based on FOMO psychology in the digital era. In International Conference of Multidisciplinary Cel: Proceedings (Vol. 1, No. 1, pp. 134-142).
Hodkinson, P. (2016). Media, culture and society: An introduction.
Kang, I., Cui, H., & Son, J. (2019). Conformity consumption behavior and FoMO. Sustainability, 11(17), 4734.
Karimkhan, F., & Chapa, S. (2021). Is fear of missing out (FOMO) a cultural construct? Investigating FOMO from a marketing perspective. Journal of Cultural Marketing Strategy, 5(2), 169-183.
Kim, J., Lee, Y., & Kim, M. L. (2020). Investigating 'Fear of Missing Out' (FOMO) as an extrinsic motive affecting sport event consumers' behavioral intention and FOMO-driven consumption's influence on intrinsic rewards, extrinsic rewards, and consumer satisfaction. PLoS One, 15(12), e0243744.
Kirby, A. (2023). Exploratory bibliometrics: using VOSviewer as a preliminary research tool. Publications, 11(1), 10.
Lee, J. A., Bright, L. F., & Eastin, M. S. (2021). Fear of missing out and consumer happiness on Instagram: A serial mediation of social media influencer-related activities. Cyberpsychology, Behavior, and Social Networking, 24(11), 762-766.
Munawar, S., Bashir, A., Fahim, S. M., Rehman, A., & Mukhtar, B. (2021). The effect of fear-of-missing-out (FoMO) on hedonic services purchase in collectivist and restrained society: A moderated-mediated model. Academy of Strategic Management Journal, 20, 1-20.
Nurul B., Abdi A., Muhammad Ilham W. The Influence of Social Media Marketing on Purchasing Decisions on the Tiktok Shop Platform (Survey of State University of Makassar Students Class of 2020-2023). Journal of Economics. Accounting and Management, 3 (2) 406-417
Pakpahan, M. (2022). The Effect of Co-Branding and Customer Based Brand Equity on Purchasing Decisions for Cadbury Products (Doctoral dissertation, Universitas Komputer Indonesia).
Piercy, N., Harris, L. C., Kotler, P., & Armstrong, G. (2016). Principles of Marketing 7th edn PDF eBook. Pearson Higher Ed.
Sajeevanie, T. L. (2021). Literature review and academic research. International Journal of Creative Research Thoughts, 9(1), 2713-2720.
Snyder, S. L., & Mitchell, D. T. (2019). Cultural locations of disability. University of Chicago Press.
Sönmezay, M. (2024). The FOMO effect of social media habits on consumers and the return rate of purchases made under this effect. Ordu Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Araştırmaları Dergisi, 14(1), 65-80.
Tjiptono Fandy (2020). Marketing Strategy Principles and Applications. Andi Publisher. Yogyakarta.
Wahyuni, S. (2023). The Effect of Content Marketing, Viral Marketing and Spiritual Marketing on Purchasing Decisions with Purchase Intention as an Intervening Variable (Study on Rocket Chicken Consumers in Salatiga). Al-Muraqabah: Journal of Management and Sharia Business, 3(1), 133-155.
Yani, E. U., & Rojuaniah, R. (2023). The Effect of Social Media Marketing and FoMO on Purchase Intention through Electronic Word of Mouth. Tambusai Education Journal, 7(2), 18020-18030.
Yoga, I. M. S., Sistadyani, N. P. I., Fatricia, R. S., Yulianti, D. R., & Basmantra, I. N. (2022). Indonesian consumers' emotional and psychological factors in the nexus of fear of missing out (FOMO). BISMA (Business and Management), 14(2), 144-159.
Zakiyyah, F. N., Winoto, Y., & Rohanda, R. (2022). Bibliometric mapping of information architecture research development on Google Scholar using VOSviewer. Informatio: Journal of Library and Information Science, 2(1), 43-60.
Zhang, J., Quoquab, F., & Mohammad, J. (2024). Plastic and sustainability: a bibliometric analysis using VOSviewer and CiteSpace. Arab Gulf Journal of Scientific Research, 42(1), 44-67.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 International Journal of Economics and Management Sciences
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
