Are you missing out on the BOGO? Or is that just your FOMO?

Answer: 60% of people make purchases because of FOMO, mostly within 24 hours.

Questions:

• What is FOMO? How would you describe it?
• Have you ever experienced FOMO? How has it ever impacted your spending behavior?
• How can you avoid overspending due to social factors like FOMO?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Trust Pulse):

What Is FOMO?
FOMO, or fear of missing out, is the feeling of anxiety that a person experiences when they think they’re missing out on something. Generally, these feelings are caused by seeing posts on social media. However, it’s often triggered during online shopping experiences as well.

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Check out the NGPF Activity, ANALYZE: FOMO & Herd Mentality in Advertisements to discuss this topic further with your students. 

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About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.