40+ FOMO Statistics you Need to Know in the Year 2024

FOMO has become a common phenomenon that impacts all online consumers. For example, it occurs when you notice an exciting or interesting event occurring somewhere else and you’re missing out. FOMO is usually triggered when you see posts about the event on social media. Therefore, we have compiled a list of FOMO statistics that will help you understand better.

40+ Most Useful FOMO Statistics

1) Facebook contributes to people’s FOMO the most (72%), followed by Instagram (14%), Twitter (11%), and Pinterest (8%).  (OptinMonster)

2) 56% of people are afraid of missing out on news, events and other important status updates when they are not active on social networks.  (OptinMonster),

3) 40% of millennials overspend and even some go into debt to keep their relationship with their friends. (OptinMonster)

4) About 51% of people visit or log onto social media more frequently than they did two years ago because of FOMO. (OptinMonster)

5) At least 27% of people check their social media accounts as they wake up. (OptinMonster)  

6) 45% of users who experience FOMO can’t wait longer than 12 hours to check their social media accounts.  (TrustPulse)

7) 20% of users wait more than an hour without using social media networks.  (TrustPulse)

8) About 56% of all social media users experience FOMO.  (TrustPulse)

9) At least 14% of people are worried about being out of the loop at work or home.  (TrustPulse)

10) While FOMO impacts people of all ages, 7 out of 10 millennials (23 to 38-year-olds) experience FOMO the most. (OptinMonster)

11) About 60% of millennials like to share their life experiences on social media networks. (TrustPulse)

12) Online users that have household incomes of around $75,000 per year were most likely to feel FOMO. Moreover, they are also more likely to share experiences on social media to invoke FOMO in others. (OptinMonster)

13) Teens or adolescents are not invulnerable. A FOMO research showed that 55% of subjects aged 15 to 18 also experience FOMO. (AnnexCloud)

14) More male teens (26.1%) experience FOMO than females (24.96%).  (AnnexCloud.)

15) In general, the posts and events that create FOMO among millennials the most are food (29%), events and parties (56%), and  travel (59%). (OptinMonster)

16) More female teens state that they experience a high level of FOMO (51.28%) as compared to males (39.75%).  (AnnexCloud)

17) Most of the emotions experienced alongside FOMO seem negative: 21% felt sad or disappointed, 30% felt jealous, and 39% reported feeling envious. (OptinMonster)

18) 36% of people are worried about feeling like an outsider.  (TrustPulse, 2019)

19) 26% of social media users who experience FOMO fear losing their friends and 23% are afraid of being judged. (TrustPulse)

20) While it seems that FOMO is usually associated with adverse effects,  a study showed that FOMO could also lead to positive effects when acted upon with mediation techniques such as engaging in social media to build social connection.  (Roberts & David),

21) 29% of people report feeling happiness alongside FOMO.  (OptinMonster)

22) Around 60% of millennial consumers report making a reactive purchase after they experience FOMO, often within 24 hours.  (OptinMonster)

23) 41% of millennials perform quick mobile transactions due to FOMO.  (FortuneLords)

24) 48% of millennials have spent money they didn’t have to maintain relations with their friends.  (FortuneLords)

25) Product reviews are influential tools for creating beneficial FOMO. They are 12X more trusted as compared to product descriptions and sales copy. (OptinMonster)

26) 63% of consumers like buying from a website that has product reviews and ratings. (FortuneLords)

27) Studies show that 92% of online buyers look at a product review before purchasing.  (OptinMonster)

28) Customers can spend as much as 31% more on a business with excellent reviews. (OptinMonster)

29) Positive reviews encourage 68% of consumers to consider a local business. (OptinMonster)

30) 87% of consumers state that reviews impact how they discover local businesses, with 21% saying reviews play a significant role in the process.  (Podium)

31) 41% of consumers might buy a product with one to four reviews.  (OptinMonster)

32) Likewise online reviews, user-generated content (UGC) can also generate a good kind of FOMO for marketing. Moreover, 30% of millennials spend 18 hours a day consuming media looking at UGC.  (OptinMonster)

33) Unsurprisingly, 85% of consumers believe that visual UGC is more influential as compared to brand-created content.  (OptinMonster)

34) 78% or three out of every four millennials prefer to spend money on experiences over material things. (TrustPulse)

35) Nearly 55% pay more money on live events, such as concerts.  (OptinMonster)

36) A FOMO study revealed that nearly 50% of millennials who attend live events do so to have something to share online.  (OptinMonster)

37) 69% said that attending live events helps them boost their connections. (TrustPulse)

38) 48% of customers state that UGC is a great way to find new products.  (OptinMonster)

39) 84% of millennials say that UGC influences their buying decisions.  (OptinMonster)

40) Over 60% of customers seek out UGC before buying. (Annex Cloud)

41) Companies that include UGC in their websites can enjoy an 18% improvement in revenue. (Annex Cloud)

42) 40% of people say spending money on something at least once a year with the intention to post about it on social media. (TrustPulse)

43) 41% of people spend because they worry about not being invited again in the future.  (TrustPulse)

These are some of the most useful FOMO statistics that you can leverage for your business.

Conclusion

After reading this post on FOMO statistics, you may have realized that FOMO can also lead to positive impact. Moreover, by applying the right FOMO strategy you can generate a great amount of revenue. We hope you find this post helpful.