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Psychological impact (new) - Coggle Diagram
Psychological impact (new)
FOMO
Consumer/scarcity FOMO
Scarcity and Urgency
Limited stock pressure (4,10,12)
Limited-time offers (4,10,11,12)
Artificial scarcity (4)
e.g. black friday, 12.12
Drop sales (10)
seasonal promotions (4)
e.g. McDonald's
Fear of Missed Opportunities
Good deals (10)
missed opportunities (12)
Trend FOMO
countering FOMO
Delayed gratification (4,7,8,11)
waiting for trends to settle
Evaluates affordability before purchasing viral items (10)
Psychological Triggers
Social and Peer Influence
Feeling compelled to try new things due to FOMO (1)
Discovering new products/places through social media
Social influence on spending decisions (7)
"Unless A lot of my friends asking to go to the viral place. Then maybe I'm motivated"
Social Pressure & Fear of Exclusion
Peer pressure (11)
Purchasing to avoid exclusion (11)
Fear of judgment (11)
Pressure to fit in influences spending (2,10)
constancy
Influence of online reviews (12)
Continuous exposure increases temptation to buy (10)
Curiosity
Skepticism toward social media hype (13)
To make sure what people say is right (11)
conspicuous consumption
Trend-Driven Spending
FOMO
desire for social validation (10)
Following trends (10,11)
Image & Status Projection
showing this image of them being rich kids (4)
Misrepresentation of wealth (8)
Social media illusion
lifestyle maintenance (4)
Influence of Social Media & Influencer Culture
Unrealistic expectations from social media (7)
"It makes people feel left out. But we all have different paths. Social media creates a false sense of urgency to have more, even when you can’t afford it." (7)
Pressure to maintain a certain lifestyle due to influencer culture (1)
e.g. makeup
Social media fostering excessive consumption for status (13)
Unrealistic Luxury Lifestyle on Social Media Leading to Increased Spending (6)