SOCIAL MEDIA FOMO: A HOLISTIC APPROACH TO UNDERSTANDING SOCIAL MEDIA FEAR OF MISSING OUT AND ITS EFFECTS ON CONSUMER WELLBEING.

Research Question - Social media has become a major part of modern social connection, yet there is still insufficient research on the connection of FOMO and social media. We review the psychological drivers of the social media FOMO process (e.g., social comparisons, selfverification, self-evaluation maintenance, etc.) and present a framework for how it can lead to mental health consequences. We propose future research questions based on our framework of social media FOMO. The following are research questions meant to inspire future research on social media FOMO: What factors affect the amount and impact of upward social comparisons on social media? In addition to body image, what other content categories interact with gender and FOMO? How do gender norms heighten FOMO across different content categories? Does active posting on social media increase FOMO when self-presentation worries arise? Can active posting also decrease FOMO because of the agency it provides the user? When self-verification goals fail, does FOMO arise? Do consumers use social media to self-verify on certain aspects of the self (e.g. physical, personality) more than others? How do feelings of FOMO develop into a chronic habitual process of social media FOMO over time? Summary of Findings - With this theoretical work, we set an intention for our conceptual framework to stimulate research findings that can be translated into actionable implications for consumers, businesses, and policy makers to reduce social media FOMO. We advocate for social media platforms to collaborate with our social media FOMO research paradigm. Research conducted by researchers external to the social media platforms will reduce the bias of internal research. For example, a reminder to take a break on social media would be more effective at supporting well-being if coupled with identifying segments of users who are low in self-esteem and seek social comparisons. Some social media content can even increase user well-being. Consumers can be educated to become aware of the effects that FOMO has on their overall wellbeing which could encourage them to adopt healthier social media habits. While we encourage consumers to empower themselves to manage their social media habits, the scale of the social media FOMO problem represents a public health crisis that requires supporting policies and funding. Policy makers can consult with child development experts and gain understanding from social media FOMO research to reassess minimum age requirements and require social media platforms to provide warning labels for FOMO-inducing content. Statement of Key Contributions -This work aims to encourage future research on the topic of social media FOMO by proposing a holistic framework for social media usage. Prior research on the links between social media and consumer mental health has been fragmented; therefore, laying out a conceptual framework for it with psychological mechanisms is a key step in understanding the social media epidemic. We highlight the central role of social media FOMO and propose a series of research questions at every stage of the framework. This research contributes to the social media literature by providing new avenues of research that can enrich the discipline and provide greater understanding to the construct of social media FOMO and its consequences on well-being. We conclude our theoretical paper by recommending detailed actions that key stakeholders (businesses, policy makers, and consumers) can take to deal with the negative consequences of social media FOMO. While we note examples of some social media platforms taking steps to reduce social media FOMO, we focus on empowering consumers to understand the challenges they face in managing their social media usage towards improving their mental health outcomes. [ABSTRACT FROM AUTHOR]