Question of the Day: What percentage of people make purchases due to FOMO?
Are you missing out on the BOGO? Or is that just your FOMO?
Answer: 60% of people make purchases because of FOMO, mostly within 24 hours.
- What is FOMO? How would you describe it?
- Have you ever experienced FOMO? How has it ever impacted your spending behavior?
- How can you avoid overspending due to social factors like FOMO?
Behind the numbers (Trust Pulse):
What Is FOMO?
FOMO, or fear of missing out, is the feeling of anxiety that a person experiences when they think they’re missing out on something. Generally, these feelings are caused by seeing posts on social media. However, it’s often triggered during online shopping experiences as well.
Check out the NGPF Activity, ANALYZE: FOMO & Herd Mentality in Advertisements to discuss this topic further with your students.
To receive the Question of the Day in your email inbox, subscribe to the NGPF Blog.