The Psychological Effects of Fear of Missing Out (FOMO) on

Consumer Behaviour with a Focus on Social Media

Zihan Xu

Faculty of Humanities and Social Sciences, Beijing Normal University·Hong Kong Baptist University,

United International College, 519087 Guangdong, China

Keywords: Social Media, Consumer Decisions, Purchase Decision, Psychology, Fear of Missing Out (FOMO).

Abstract: The emergence of social media has affected consumer behavior. Fear of missing out (FOMO), which is linked

to anxiety and the urge to uphold social interactions with others, is one of the variables driving these decisions.

This study provides a deeper understanding of FOMO and its impact on consumer behavior based on Self-

Determination Theory (SDT) and Information Foraging Theory. This report explores the relationship between

FOMO, social media, and consumer behavior. The report concludes that FOMO forces consumers to seek

feedback and information before making a purchase, thus greatly influencing the decision-making process.

This study capitalizes on secondary research, specifically, literature analysis, to facilitate the exploration of

the intricate dynamics of Fear of Missing out (FOMO). Specifically, it entails the use of already existing data

to investigate the phenomenon of Fear of Missing out (FOMO) within the context of social media and its

influence on consumer behavior. In addition, the report offers potential solutions to mitigate the negative

effects of FOMO.

1 INTRODUCTION

Due to the rising usage of digital technology, which

has improved public participation and connectedness,

the fear of missing out (FOMO) has gained

prominence. This essay focuses on how FOMO

manifests on social media platforms to investigate the

connection between these two phenomena. As

Rozgonjuk and colleagues point out, FOMO is

characterized by a tendency to feel anxious about

potentially missing out on something and a perceived

need to be constantly connected to social networks

(Rozgonjuk et al. 2020). The authors also emphasize

that social media platforms contribute significantly to

the perpetuation of FOMO by enabling users to

consume, create, and share content (such as images

and videos). This can lead to all kinds of comparisons

and dissatisfaction among users, who will feel like

they are being missed out (Rozgonjuk et al. 2020).

The study explores the importance of the complex

relationship between FOMO, social media, and

consumer behavior. Roberts and David posit that

FOMO is prevalent among young adults and

adolescents, especially those who use social media

frequently and intensely, as it influences their need to

belong (Roberts & David 2020). Other aspects of

social media, such as the increased convenience of

direct shopping on social media and the desire to be

part of a trend or community that can influence brand

preferences and loyalty, are indicated as intensifying

FOMO. As a result, FOMO has skyrocketed with the

increased adoption of social media. Thus, this

research is key to providing marketers and businesses

with insights to tailor their strategies on social media

allowing for the development of targeted campaigns

resonating with the emotional and social aspects

associated with FOMO, ultimately influencing

purchasing behaviors.

This study capitalizes on secondary research,

specifically, literature analysis, to facilitate the

exploration of the intricate dynamics of Fear of

Missing out (FOMO). Specifically, it entails the use

of already existing data to investigate the

phenomenon of Fear of Missing out (FOMO) within

the context of social media and its influence on

consumer behavior. The advantage of using

secondary research is that it allows for an in-depth

exploration of FOMO based on existing literature

concerning the psychological intricacies associated

with FOMO (George 2023). Additionally, the

conducting of the literature review fosters the

Xu, Z.

The Psychological Effects of Fear of Missing Out (FOMO) on Consumer Behaviour with a Focus on Social Media.

DOI: 10.5220/0012817700004547

Paper published under CC license (CC BY-NC-ND 4.0)

In Proceedings of the 1st International Conference on Data Science and Engineering (ICDSE 2024), pages 22-26

ISBN: 978-989-758-690-3

identification of key themes, theories, and empirical

studies related to FOMO, social media, and consumer

behavior. Also, the study integrates prominent

theories, such as the Self-Determination Theory, the

belongingness hypothesis, and the information

foraging theory, to establish a robust theoretical

framework for understanding the psychological

mechanisms underlying FOMO. Lastly, the research

process constituted the selection of relevant peer-

reviewed articles from scholarly databases such as

Google Scholar, Journal Storage (JSTOR), and

statistical databases such as Statista.

Consequently, it facilitates the investigation of

how the fear of missing out manifests in the context

of social media platforms and establishes the

relationship between FOMO and social media. Also,

the report aims to analyze how FOMO influences

consumers' decision-making process, particularly in

the realm of purchasing choices, thus establishing the

role of social comparison and the need for social

validation in shaping consumer decisions influenced

by FOMO. These objectives provide a

comprehensive framework for delving into various

aspects of the relationship between FOMO, social

media, and consumer behaviour via the lens of

psychological effects.

2 LITERATURE REVIEW

Scholarly work by Savitri finds that FOMO hurts

psychological well-being, especially in self-

acceptance and positive relations with others (Savitri

2019). Thus, the author suggests that FOMO may

lead to lower self-esteem, social comparison, envy,

and dissatisfaction with one’s life. Kacker and Saurav

support this stance by noting that FOMO is associated

with psychological factors such as anxiety,

depression, aggression, and low self-esteem, as well

as negative consequences such as reduced academic

performance, impaired sleep quality, and increased

stress levels (Kacker & Saurav 2020). However, they

argue that FOMO can be reduced by enhancing one’s

psychological needs for competence, autonomy, and

relatedness, as well as by limiting one’s exposure to

social media and developing healthy coping skills

(Kacker & Saurav 2020). Given the impact FOMO is

implied to have on consumers’ psychological factors,

Argan and Argan contend that FOMO can lead to

‘Fomsumerism’ which is the tendency to consume

products, services, or experiences that are perceived

as desirable, scarce, or status-enhancing by others, to

reduce the gap between one’s own and others’

situations (Argan et al. 2019). Consumerism can be

associated with the effect FOMO has on consumer

behavior with social media amplifying the effects.

While existing scholarly research illuminates the

adverse psychological effects of Fear of Missing out

(FOMO), particularly on self-esteem, mental well-

being, and consumer behavior, there appears to be a

potential gap in understanding the nuanced

mechanisms and contextual factors that may

moderate or exacerbate these effects. Additional

investigation is necessary to uncover how individual

differences, cultural factors, and diverse patterns of

social media usage may influence the effects of

FOMO on psychological aspects and consumer

behavior. This will help to understand this common

phenomenon in more detail.

3 THE PSYCHOLOGICAL BASIS

OF FOMO

3.1 Self-Determination Theory (SDT)

This study mainly uses self-determination theory

(SDT) and information foraging theory to explore the

psychological basis of FOMO. According to Deci and

Ryan, the core idea of SDT is that individuals have

three basic psychological needs: autonomy,

competence, and relevance (Ryan & Deci 2022).

Autonomy is about doing things according to the

values and interests. Moreover, the SDT explains the

relationship between the psychological

underpinnings of FOMO and consumer behavior via

the viewpoint that FOMO can undermine the

satisfaction of these SDT needs, especially autonomy

and relatedness. Since FOMO can make consumers

feel pressured to buy or consume certain products or

services that they may not truly value or enjoy and

make them feel insecure and dependent on external

validation, as Milyavskaya et al. points out, it

compromises their autonomy needs and weakens

their relatedness (Milyavskaya et al. 2018). Thus,

SDT argues that FOMO affects the satisfaction of

these needs, which is essential for optimal

psychological effects.

3.2 The Information Foraging Theory

Consumers’ increased need for relatedness and

autonomy presented in the SDT is highlighted as the

key underpinnings that perpetuate cognitive and

affective states, such as curiosity, boredom, and

anxiety. According to Roberts and David, drawing on

the belongingness hypothesis and information

The Psychological Effects of Fear of Missing Out (FOMO) on Consumer Behaviour with a Focus on Social Media

foraging theory to explain the psychological

mechanisms behind FOMO, they argue that FOMO is

driven by the innate human need to belong and to seek

information that is relevant to one's social goals and

interests (Roberts & David 2020). This is something

social media facilitates as it not only provides a rich

source of such information but also creates a sense of

uncertainty and anxiety about missing out on valuable

social opportunities and rewards. Consequently, the

abundance of information on social media creates a

sense of anxiety and uncertainty among users who

fear missing out on the latest news or deals and desire

increased relatedness. The information foraging

theory posits that humans generate an excess of

information, leading to a scarcity of attention and an

increased necessity to allocate that attention in a

manner that is both effective and efficient, thus

affecting the resources needed to establish a person's

autonomy and relatedness due to increased reliance

on social media for relevant and valuable information

about products, services, and trends (Jaiswal et al.

2023). In short, the interplay of the Self-

Determination Theory, the belongingness hypothesis,

and the information foraging theory reveal that the

heightened need for relatedness and autonomy,

compounded by social media's simultaneous

provision of rich information and instigation of

anxiety about potential social opportunities, all of

which fuels the psychological intricacies of FOMO,

ultimately impacting users' autonomy and relatedness

establishment.

4 RESEARCH FINDINGS

This report gathered existing scientific data to provide

an overview of the prevalence of FOMO, its

emergence in the era of social media, and its

psychological effects on consumer decisions.

According to Sas, 77% of internet users in Poland

indicated experiencing high FOMO, as in Fig.1 below

(Sas 2023). Additionally, most existing literature

indicates that FOMO disproportionately affects social

media users, especially young people. Additionally,

most existing literature indicates that FOMO

disproportionately affects social media users,

especially young people. Sas highlights the

prevalence of FOMO among young people, with the

greatest number of social media users exhibiting high

FOMO being young people, as shown in Fig.2 (Sas

2022).

A study by Ilyas and others presents that FOMO

mediates the effects of social media content on

purchase decisions and satisfaction (Ilyas et al. 2022).

This means that consumers exposed to social media

content that shows favorable and relevant information

about a product are more likely to experience FOMO,

which motivates them to buy the product and feel

satisfied with their purchase. Specifically, FOMO

was massively influenced by social media content

with a standardized estimate of 0.49, which impacted

consumer purchase decision decisions by 0.253 with

a p-value of 0.017, thus establishing a relationship

between social media content and purchase decision

with FOMO as a mediating variable as indicated in

Table 1 below.

Figure 1: FOMO (Fear of Missing out) scale in Poland in

2022 (Sas 2023).

Figure 2: Age percentage of Polish Internet users in 2022

who are afraid of missing news (Sas 2022).

ICDSE 2024 - International Conference on Data Science and Engineering

Table 1: Hypothesis Test Results (Ilyas et al. 2022).

Standardised

estimate

Estimate

Default

erro

P-value Result

FOMO ← Social Media Content (H1) 0.49 0.709 0.163 *** Supported

Purchase decision ← FOMO (H2) 0.253 0.184 0.077 0.017 Supported

Purchase decision ← Social Media

Content (H3)

0.572 0.6 0.124 *** Supported

Satisfaction ← Purchase decision (H4) 0.748 0.825 0.117 *** Supported

Purchase decision ← FOMO ← Social

Media Content (H4)

0.124 Sobel Test Statistic = 2,217 0.055 0.026 Supported

Satisfaction ← Purchase decision ←

FOMO (H6)

0.189 Sobel Test Statistic = 2,922 0.064 0.003 Supported

5 DATA ANALYSIS

5.1 Psychological Effects of FOMO on

Consumer Behavior

This research gathered that FOMO had massive

psychological effects with social media platforms

facilitating the propagation of the FOMO. In support

of these findings, Jabeen et al. reflect on how FOMO

influences users’ psychological processes by

leveraging the relatedness element of the SDT and

articulate that narcissism is positively correlated with

FOMO, meaning that users who experience FOMO

are more likely to adopt admiration and rivalry

processes on SMPs (Jabeen et al. 2023). Some of the

key catalysts that activate FOMO among users of

Social Media Platforms (SMPs) are time cost and

anxiety. Users who perceive higher levels of time

spending and anxiety are more likely to experience

FOMO, indicating a positive relationship with these

factors (Jabeen et al. 2023). This can be attributed to

various elements of social media, including the

integration of direct shopping features. According to

Tu Dinh et al., these functions make it easy for

followers to buy products endorsed by influencers

without leaving the platform, thus creating a sense of

urgency for followers to worry about missing the

latest trends or transactions (Dinh et al. 2023).

Furthermore, direct shopping on social media triggers

comparisons between followers, which affects their

need for relevance and, in turn, their need for

autonomy, as they are more likely to imitate others.

On this basis, Alfina et al. believe that FOMO

significantly affects consumer behavior, including

motivation, purchase intention, purchase behavior,

consumption behavior, and post-purchase evaluation

(Alfina & Mardhiyah 2023). Thus, while time costs

and anxiety are the main triggers for activating

FOMO, the combination of direct purchase features

on social media reinforces these effects, fostering a

high sense of urgency and impulsivity among

subscribers. This, in turn, affects their need for social

comparison and relevance and ultimately influences

many aspects of consumer behavior.

5.2 Implications for Marketing and

Businesses

The findings of this study observed that FOMO had a

considerable influence on purchase decisions and

consumer satisfaction which pose massive

implications on the effectiveness of the marketing

strategies implemented. Concerning this stance, Kang

and colleagues argue that FOMO explains consumer

decisions by suggesting that consumers are motivated

by two psychological traits: desire for belonging and

anxiety about isolation (Kang et al. 2018). The article

sheds light on this study’s results by articulating that

consumers with a strong desire for belonging tend to

seek stability and recognition from others by

following the consumption trends of the mainstream

group. Those with the high anxiety of isolation tend

to avoid being excluded or discriminated against by

the mainstream group by imitating their consumption

behavior, thus increasing the interest and conformity

consumption of culturally associated brands among

consumers. Comparably, Flecha Ortiz et al. postulate

that FOMO affects the decision-making process of

consumers by triggering consumers to seek

information and feedback from social media before

making a purchase decision, thus influencing their

anticipated emotions and motivation to participate in

social media activities and increasing the consumers’

purchase intention and loyalty (Flecha Ortiz et al.

2023).

Consequently, the practical implications for

marketers and businesses are that they should use

social media and online platforms to disseminate

The Psychological Effects of Fear of Missing Out (FOMO) on Consumer Behaviour with a Focus on Social Media

information and influence consumers' attitudes and

emotions toward culturally associated brands.

Moreover, based on this discussion, leveraging social

media to create FOMO is highlighted as a key

strategy for marketers and businesses, coupled with

the awareness of the factors that can affect the

intensity of FOMO among consumers. However,

several strategies can be used to mitigate the effects

of FOMO on consumer behavior such as the

provision of clear and accurate product information to

avoid creating false expectations or exaggerated

claims that can trigger FOMO, which is key to

avoiding using manipulative tactics, such as fake

scarcity or urgency, that can create anxiety and

distrust among consumers (Alabri 2022). Also,

businesses providing value and quality to their

customers instead of relying on temporary hype or

trends are key to facilitating the mitigation of the

negative effects associated with FOMO. Therefore,

this essay deducts that consumer decisions are

influenced by FOMO, where individuals motivated

by a desire for belonging or an anxiety of isolation

tend to conform to mainstream consumption trends,

prompting marketers and businesses to leverage

social media to create FOMO strategically.

6 CONCLUSION

This research revolves around the psychological

effects that Fear of Missing out (FOMO) has on

consumer behavior. Specifically, it focuses on how

FOMO manifests in the social media realm. The

research findings are anchored on statistical evidence

and depict that FOMO influences the decisions of

consumers and acts as a mediator between the content

of social media and their decisions to purchase.

Besides, FOMO is catalyzed by psychological

aspects of time cost and anxiety, which are identified

with the integration of social media to direct shopping

to intensify the effects. As such, the study gives

valuable references to guide future research on

possible avenues that brands can leverage on social

media in fostering FOMO and accentuating the

significance of clear brand information and ethical

practices to prevent adverse consequences.

Therefore, future research should focus more on

individual differences, cultural influences, and

evolving social media usage patterns to unravel the

evolving dynamics of FOMO and its impact on the

ever-changing landscape of consumer behavior.

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