A Study on Bandwagon Consumption Behavior Based on Fear of Missing Out and Product Characteristics

Abstract

There have been unusual collective consumption phenomena that consumer behavior conforms to as part of the pursuit of specific brands (e.g., teenagers wearing the same brand jacket). In order to explain bandwagon consumption behavior, previous studies focused on brand, personal traits, and group characteristics. However, previous studies seem somewhat limited in explaining excessive bandwagon consumption. This study addresses a psychological trait, the Fear of Missing out (FoMO), which describes why people want to belong to a main group. Along with FoMO, product characteristics influence bandwagon consumption behavior because consumers may show different behaviors for different product categories. Hence, this study combines FoMO levels (high/low) and product category (luxury/necessity) to explain bandwagon consumption behavior. The results reveal that the combination of high FoMO and luxury shows the strongest bandwagon consumption behavior. The next strongest combination is low FoMO and necessity, followed by high FoMO and necessity, and low FoMO and luxury. Based on these findings, this study might present implications for understanding excessive bandwagon consumption based on psychological traits and product characteristics, which makes it possible for marketers to provide customizing products and services as well as advertising messages for young consumers groups who experience high levels of FoMO when establishing their marketing strategies.

Exploring the impact of a conspicuous identity on college students’ campus loans: Evidence from China

“…When this is the case, the consumption pattern usually follows the conformity trend. The results echo findings by Kang and Ma (2020) . They found teenagers often wear the same brand jacket.…”

“…According to the relevant studies, the role of conformity was also measured by a five-item scale: ① I associate with students who have the same levels of consumption as mine; ② My good friends are those who share my purchase and consumption habits, for example in the choice for brands of clothing, cosmetics, mobile phones, etc. ; ③ Conformity mentality takes over in my buying decision process; ④ I compare my consumption behavior to that of my classmates’; ⑤ I feel ashamed and fear being looked down upon when I do not have goods my classmates have, for example phones, computers and watches of a certain brand ( Kang and Ma, 2020 ). Respondents evaluated the abovementioned two five-item scales using a nine-point Likert-type scale where 1 means completely disagree, while 9 means completely agree.…”

Do not run out of toilet paper! The risk communication on perceived risk on consumer behavior during the crisis COVID-19

“…This analysis is supported according to the antecedents identified in the literature, which establishes that the periods of exposure to the media are relevant to offer more assertive conclusions about how risk communication affects perceived risk (Faour-Klingbeil et al, 2021;Zhang, 2021;Barrelet et al, 2013aBarrelet et al, , 2013bHeydari et al, 2021;Freimuth et al, 2008;Karasneh et al, 2020). Besides, other studies detail that depending on the time of exposure to a medium, the bandwagon effect produces more consumption (Choi et al, 2015;Kang and Ma, 2020), and the perception of demand-framed scarcity leads to higher purchase intention, where psychological risk underlies these effects (Huang et al, 2020). To conduct this analysis, participants were asked how much time they spent on COVID-19 risk communication exposure one week before implementing the social distancing measures.…”

“…The bandwagon effect is a type of cognitive bias that can manifest itself in various forms of consumption, because it involves group norms, the need for belonging and acceptance (Shaikh et al , 2017; Tynan et al , 2010; Nadeau et al , 1993). The literature has identified that with greater exposure of messages, the bandwagon effect produces more consumption (Choi et al , 2015; Kang, and Ma, 2020), where it even makes luxury products available to all consumers (Bahri-Ammari et al , 2020). The literature does not offer studies covering how the bandwagon effect becomes a consumer way of managing risk.…”

Research on the influence of theme restaurant interior design on users’ consumption behavior based on the layout of interior environment space

“…Indoor spatial ambience has a significant influence in the decision-making process and consumption behavior of consumers. For different spatial ambience preferences and importance, solutions are designed to meet the needs of different consumers [1][2]. It is very important for investors, operators, and designers to set a comfortable and safe commercial space design positioning that is favored by the target consumer market.…”