The percentage of people who make purchases due to FOMO (Fear of Missing Out) is approximately 60%. This phenomenon is particularly prevalent among millennials, with 69% of them experiencing FOMO. FOMO can be triggered by various factors, such as social media, travel, parties, events, and food. Social media platforms like Facebook are the main contributors to FOMO, with 72% of people experiencing it on this platform.
FOMO can have a significant impact on peoples buying decisions, with 60% of shoppers stating that it has influenced their purchasing choices. FOMO messaging in ads can increase click-through rates by 14%, and using FOMO-based urgency tactics in product descriptions can increase conversions by up to 332%. This shows the power of FOMO as a marketing tactic.
While FOMO is often associated with negative emotions, such as envy, jealousy, and sadness, 29% of people also report feeling happiness alongside FOMO. This complex emotional response can further contribute to impulsive buying behavior.
