In recent years, shopping online has become much more popular and favorable over the traditional ways of in person shopping. Many clothing companies no longer have in person stores, and sell their merchandise solely through online websites. With online programs and technology making it feel effortless to click “add to cart” and purchase, clothing brands have developed new marketing tactics to target and encourage their audience to participate in these behaviors.
Many brands with a significant online shopping presence utilize a “FOMO” marketing strategy for their online sales. “FOMO” marketing plays on human instincts to be a part of something and not miss out on opportunities by only launching certain items or collections for a limited time, making the products very hard to buy, as they are only available for a short period and sell out very quickly. FOMO marketing capitalizes on the powerful emotion of feeling “left out,” encouraging engagement, conversations, and sales by creating a sense of urgency, scarcity, and exclusivity.
The “FOMO” marketing tactic that is commonly used by online clothing brands is incredibly annoying and inconsiderate to consumers, as it makes it virtually impossible to buy products that they have wanted for a long time.
In order to make this marketing tactic effective, clothing brands will create a bunch of “hype” around a certain product and promote it through social media or other ways, but then barely any consumers are actually able to buy it once it finally drops.
Social media flash sales, as described by FOMO.com are when a company “posts an attractive deal on social media with captions that state how long the sale will last encourages immediate action while incentivizing followers to regularly check their social media pages.”
The idea of making the product seem important taps into the emotions of their consumers making them feel like they need the product. When the consumer is not able to get it after it sells out in less than five minutes, it makes the consumer upset and “left out.”
By limiting the time frame of the availability to purchase an item, it can make online shopping feel like a battle, as a consumer feels like they need to “fight” other people in order to purchase a product before it sells out. Online shopping should not be a stressful endeavor. Many people use online shopping as a way to decompress and relax after a stressful day. By making online shopping feel like a battle it takes away the fun and makes it competitive. Consumers should not feel like they need to schedule their day around when a certain product drops in order to ensure they are able to purchase it before it sells out.
I have personally felt the negative effects of FOMO marketing tactics. The clothing company “PARKE” is a brand that sells cute and trendy clothing, known for their sweatshirts. After hearing about their new “Valentines Day” drop, (a new line of products that are Valentine’s Day themed) I was incredibly excited to purchase a sweatshirt. However, they announced that they would only be available to purchase on February 1st for a very short period of time. It was a “one time only” drop, and after they were all sold out they are no longer available. This began to stress me out as I wanted to make sure I was able to purchase the sweatshirt when it became available.
When the day came around, I tried to purchase the sweatshirt one minute after they became available, and it was already sold out with the site crashing because of the huge influx of other people also trying to purchase it. I was upset when I was not able to purchase it because I had been excited for it, and was only a minute away from possibly purchasing it. Consumers should not feel like they have to “fight” in order to simply purchase an item.
The use of “FOMO” marketing strategies by online companies is detrimental to the mental health of the consumer, as they become panicked or have anxiety that they will not be able to get a product before it sells out.
According to Portsmouth University, a new study published in the Journal of Business Research, investigates how a “fear of missing out” (FOMO) and intense brand passion are pushing many consumers toward compulsive buying – often leading to stress, debt, and even anxiety.”
Although it is important to consider how the FOMO marketing strategy is effective for brands as creating scarcity of products drives up prices and improves the companies productivity, companies should also have their consumers’ best interest in mind. Otherwise, they will lose a loyal consumer base.
In a study conducted by researchers at the University of Portsmouth, the researchers discuss the implications of this marketing strategy.
“Our study reveals that while the fear of missing out can drive strong connections with brands, it also has the potential to fuel harmful spending habits, especially among younger consumers,” said Yuksel Ekinci, Professor of Marketing and Sales at the University of Portsmouth.
The researchers go on to explain why it is important for brands to value their consumers’ interests.
“It’s crucial that brands acknowledge their role in shaping consumer behavior and adopt more ethical approaches that encourage healthy, harmonious passion rather than obsessive purchasing,” said Ekinci.
Overall, brands need to put the wants and needs of their customers at the forefront of their agendas. FOMO and flash sale marketing tactics significantly hurt and stress out their consumers, and should be limited. In order to avoid this, brands should always be transparent and honest in their messaging, provide clear information about the terms and conditions of your deals or promotions, and offer alternatives when stock runs out.
