Abstract
This study posits that Fear of Missing Out (FOMO) can function as an extrinsic motive stimulating sport event consumption by inducing consumers to overcome leisure constraints. Also, FOMO-driven consumption is proposed to affect consumption experience for being grounded on extrinsic than intrinsic rewards. In Study 1, the moderation of FOMO between intrapersonal and structural constraints and sport media viewing intention are tested. In Study 2, the relations among FOMO-driven consumption, intrinsic rewards (i.e., enjoyment), extrinsic rewards (i.e., social adherence), and consumer satisfaction are assessed. Study 1 results support the notion that FOMO can boost sport media viewing intention through two mechanisms: by directly stimulating intention and by lifting the negative effect of constraints on intention. In Study 2, FOMO-driven consumption shows a stronger link to extrinsic than intrinsic rewards, extrinsic reward is marginally but negatively associated with intrinsic reward, and intrinsic reward is a stronger predictor of satisfaction. Overall, FOMO is identified as a meaningful extrinsic motive for sport event consumption though its effects on consumer satisfaction are arguable. Implications for FOMO-driven marketing are discussed.
Highlights
Fear of missing out (“FOMO”) is “a pervasive apprehension that others might be having rewarding experiences from which one is absent” (p. 1841) [1]
The indirect effect through the mediation of intrinsic reward was γ = .17 (S.E. = .07, p = .01), through the mediation of extrinsic reward was γ = .08 (S.E. = .04, p = .03), and through the mediation of extrinsic and intrinsic rewards was γ = -.05 (S.E. = .03, p = .11). The contribution of this project lies in (1) bringing attention to FOMO as a psychological condition affecting decision-making for and experience in sport event consumption; (2) providing theoretical accounts and empirical pieces of evidence supporting the role of FOMO in shaping consumer behavior as a stimulation for intention and a moderator lifting constraints; and (3) verifying FOMO-driven behavior to be mainly grounded on extrinsic rewards whereas intrinsic rewards are the prevailing predictor of consumer satisfaction
The findings indicate FOMO as a meaningful extrinsic motive for sport event consumption but question its effects on the consumer’s satisfying experience
Summary
Fear of missing out (“FOMO”) is “a pervasive apprehension that others might be having rewarding experiences from which one is absent” (p. 1841) [1]. Fear of missing out (“FOMO”) is “a pervasive apprehension that others might be having rewarding experiences from which one is absent” People tend to have social concerns about being uninformed and feeling left out of what many others do, and can act in ways to mitigate such concerns [2]. The phenomenon of FOMO can be found in social reports indicating that 56% of adults who use social media and 69% of millennials in the US experience FOMO [3, 4]. FOMO as an extrinsic motive affecting sport event consumer’s behavioral intention and satisfaction. Soonchunhyang University in support to this project (URL: https://homepage.sch.ac.kr/sch/ index.jsp). The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript
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