A STUDY ON THE IMPACT OF THE FOMO EFFECT ON GEN Z’S ONLINE SHOPPING DECISIONS IN HANOI, VIETNAM

Abstract

The study was conducted to evaluate the factors affecting the Fear of Missing Out (FOMO) and the extent to which this phenomenon influences the online shopping decisions of Generation Z in Hanoi, Vietnam. Based on the findings, the study proposes solutions to promote healthy and sustainable consumer behavior. The authors employed a combination of research methods, including literature review, primary data collection, survey research, descriptive statistical analysis, and quantitative analysis through reliability testing, Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and regression modeling. Data were collected from 397 valid responses from Gen Z consumers in Hanoi who had prior experience with online shopping activities. The research results indicate that factors such as promotional programs, scarcity and urgency, frequency of social media usage, and social media influence all have a direct and positive impact on FOMO. Furthermore, the study confirms that FOMO acts as a key psychological driver, exerting the strongest positive influence on impulsive online shopping decisions among young consumers of Generation Z. The findings also reveal that online social pressure and marketing stimuli significantly shape consumer behavior in the digital environment. Based on these results, the study recommends that businesses adopt responsible marketing strategies while encouraging young consumers to strengthen financial discipline and rational consumption habits in order to minimize impulsive purchasing behavior and contribute to the development of a sustainable e-commerce environment.