The impact of fear of missing out (fomo) on online purchasing intentions of students in Ho Chi Minh City

Abstract

In the past, due to the impact of the covid-19 epidemic, it has become difficult to shop directly. This makes online shopping more and more popular. Along with the development of the Internet and social networks as well as e-commerce sites, Fear of Missing Out also gradually affects us in our daily lives. Especially, on festive occasions or big shopping campaigns, the number of discount codes and incentives makes users more comfortable to spend. Therefore, if it is not possible to grasp the psychology of shoppers as well as the factors affecting their purchasing decisions, it will lead to ineffective promotional measures in the future, which will be costly. From that fact, the author decided to research the topic "The impact of fear of missing out (FOMO) on online purchasing intentions of HCMC students". On the basis of theoretical research and results of previous studies, this study used specific research methods: survey and data processing (descriptive statistics, assessment of reliability of the scale by Cronbach's Alpha coefficient, Exploratory Factor analysis (EFA), CFA analysis and testing of hypotheses and models). The study has systematized part of the theoretical and practical basis on the impact of fear of missing out (FOMO) on consumers' online shopping decisions, on that basis, a research model was built according to unique characteristics of students in HCMC. Research results have identified 5 factors that affect the fear of missing out (FOMO) on online shopping decisions of HCMC students, including: Self- Enhancement, Anticipated Elation, Anticipated Expense Regret, Perceived Behavioral Control, Purchase Intention. Based on the research results, the author proposes 02 incentives to improve the effectiveness of marketing campaigns to attract customers and increase business revenue.