Dataset Information

Chinese Consumers' Herd Consumption Behavior Related to Korean Luxury Cosmetics: The Mediating Role of Fear of Missing Out.

ABSTRACT: Chinese consumers' lavish and collective spending on Korean luxury cosmetics brands is well documented. This study examines why this consumption behavior occurs, hypothesizing that it is driven by a "fear of missing out" (FoMO). In other words, in order to derive psychological comfort, consumers with high FoMO may be prone to developing high brand involvement, leading to their collective consumption of certain luxury brands. In consumer studies, such collective consumption behavior is referred to as herd behavior. Thus, the main research question of this study is, "why do Chinese consumers show herd consumption behavior toward certain luxury brands?" We propose that consumers who are attracted to luxury brands and possess high FoMO will develop higher brand involvement, leading to herd consumption behavior toward such brands. To validate this proposition, this study surveyed Chinese consumers. The collected data were analyzed using the structural equation modeling (SEM) method, conducted within SPSS and AMOS. The results provide theoretical explanations as to why Chinese consumers indulge in collective obsession-like stockpiling consumption toward certain luxury brands, as well as several managerial implications related to this behavior.

SUBMITTER: Kang I

PROVIDER: S-EPMC7042405 | biostudies-literature | 2020

REPOSITORIES: biostudies-literature

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Chinese Consumers' Herd Consumption Behavior Related to Korean Luxury Cosmetics: The Mediating Role of Fear of Missing Out.

Kang Inwon I He Xue X Shin Matthew Minsuk MM

Frontiers in psychology 20200219

Chinese consumers' lavish and collective spending on Korean luxury cosmetics brands is well documented. This study examines why this consumption behavior occurs, hypothesizing that it is driven by a "fear of missing out" (FoMO). In other words, in order to derive psychological comfort, consumers with high FoMO may be prone to developing high brand involvement, leading to their collective consumption of certain luxury brands. In consumer studies, such collective consumption behavior is referred t ...[more]

PMID: 32140124

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Project description:This paper reports a two-part study examining the relationship between fear of missing out (FoMO) and maladaptive behaviors in college students. This project used a cross-sectional study to examine whether college student FoMO predicts maladaptive behaviors across a range of domains (e.g., alcohol and drug use, academic misconduct, illegal behavior). Participants (N = 472) completed hard copy questionnaire packets assessing trait FoMO levels and questions pertaining to unethical and illegal behavior while in college. Part 1 utilized traditional statistical analyses (i.e., hierarchical regression modeling) to identify any relationships between FoMO, demographic variables (socioeconomic status, living situation, and gender) and the behavioral outcomes of interest. Part 2 looked to quantify the predictive power of FoMO, and demographic variables used in Part 1 through the convergent approach of supervised machine learning. Results from Part 1 indicate that college student FoMO is indeed related to many diverse maladaptive behaviors spanning the legal and illegal spectrum. Part 2, using various techniques such as recursive feature elimination (RFE) and principal component analysis (PCA) and models such as logistic regression, random forest, and Support Vector Machine (SVM), showcased the predictive power of implementing machine learning. Class membership for these behaviors (offender vs. non-offender) was predicted at rates well above baseline (e.g., 50% at baseline vs 87% accuracy for academic misconduct with just three input variables). This study demonstrated FoMO's relationships with these behaviors as well as how machine learning can provide additional predictive insights that would not be possible through inferential statistical modeling approaches typically employed in psychology, and more broadly, the social sciences. Research in the social sciences stands to gain from regularly utilizing the more traditional statistical approaches in tandem with machine learning.

Dataset Information

Chinese Consumers' Herd Consumption Behavior Related to Korean Luxury Cosmetics: The Mediating Role of Fear of Missing Out.

Publications

Chinese Consumers' Herd Consumption Behavior Related to Korean Luxury Cosmetics: The Mediating Role of Fear of Missing Out.

Similar Datasets

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