J 2024

Fear of Missing out and Its Impact on Consumer Decision Making in Relation to Product Purchases in the Metaverse

KOPŘIVOVÁ, Veronika and Radka BAUEROVÁ

Basic information

Original name

Fear of Missing out and Its Impact on Consumer Decision Making in Relation to Product Purchases in the Metaverse

Authors

KOPŘIVOVÁ, Veronika (703 Slovakia, guarantor, belonging to the institution) and Radka BAUEROVÁ (203 Czech Republic, belonging to the institution)

Edition

Central European Business Review, 2024, 1805-4854

Other information

Language

English

Type of outcome

Článek v odborném periodiku

Field of Study

50204 Business and management

Country of publisher

Czech Republic

Confidentiality degree

není předmětem státního či obchodního tajemství

Organization unit

School of Business Administration in Karvina

Keywords in English

metaverse; fear of missing out; purchasing
Změněno: 15/11/2024 11:12, Ing. Radka Bauerová, Ph.D.

Abstract

V originále

The metaverse is experiencing a resurgence, embodying a digital realm constructed through technologies such as virtual reality, augmented reality, cryptocurrency and the internet. The metaverse is a trending and widely discussed topic. Companies are still intensely weighing the pros and cons of joining this space, and it is not an easy decision for them to make. Thus, to make this decision easier, there is a clear need for studies that clarify users’ perception and intention of using the metaverse for purchasing products. Therefore, this study focuses on investigating the relationship between attitude and intention to purchase products in the metaverse and users' level of "fear of missing out" (FoMO) as a phenomenon that is currently significantly influencing consumers. A questionnaire was used for collecting the primary data. The research sample consisted of 425 respondents overall. The findings indicate that individuals in the cluster exhibiting heightened levels of FoMO tend to perceive metaverse product purchases as less sensible. Intriguingly, despite this lower perceived sensibility, over half of the individuals in this cluster express an intention to engage in metaverse-based purchases. Additionally, this particular cluster emerges as having the most pronounced inclination to purchase in the metaverse as soon as possible.