The delicate balance of social influences on consumption: a comprehensive model of consumer-centric fear of missing out

Abstract

The current study explores the underlying psycho-social motivations of consumer-centric fear of missing out (FoMO) and, in turn, its effects on consumption behavior. More specifically, we add to the literature by investigating the complex set of relationships between the antecedents of consumer-centric FoMO (consumer need for uniqueness - CNFU and consumer independence), its underlying dimensions (desire for belonging and anxiety of isolation), and its consequences on (conformity and conspicuous) consumption. The data were collected from a total of 1156 consumers residing in the United States and Turkey, a developed and a developing country, using convenience sampling. Confirmatory factor analyses, as well as structural equation modeling, were applied. The findings revealed negative effects of consumer independence on consumer-centric FoMO, whereas CNFU had a counter-intuitive positive effect, as proposed. In turn, the underlying dimensions of FoMO, desire for belonging and anxiety of isolation, affected consumption consequences in the opposite direction with positive and negative influences respectively. Moreover, consumer-centric FoMO mediated the association between individual consumer differences and socially-motivated consumption behavior. The theoretical and applied implications of these results are discussed.