Mapping the Influence of Fear of Missing Out (FoMO) on Financial Decision-Making in SMEs in the Digital Era Based on SDG 8

Detak Prapanca, Nihlatul Qudus Sukma Nirwana, Bayu Hari Prasojo, Gesti Novi Ramadani, Widya Kusuma Dewi

Abstract


Fear of Missing Out (FoMO) has emerged as a significant psychological phenomenon in the digital era, especially in shaping the decision-making behaviour of Small and Medium Enterprises (SMEs). This study reviews and advances the literature on FoMO and analyses its implications for SME financial decision-making within the context of digital transformation and Sustainable Development Goal (SDG) 8. Using a bibliometric approach, the research examines Scopus-indexed publications from 2005 to 2024 and applies VOSviewer to map keyword relationships, author collaboration networks, and evolving research themes. The results identify three dominant clusters: digital psychology, SME technology adoption, and social media-based marketing strategies. FoMO plays a dual role: it both encourages digital innovation and generates psychological pressure that can trigger impulsive financial decisions. Therefore, the study highlights the need to enhance digital literacy, promote ethical marketing practices, and strengthen data-driven decision-making to manage FoMO effectively.


Keywords


Fear of Missing Out (FoMO); Financial decision-making; Digital Transformation; Bibliometrics; SMEs; SDG 8.

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References


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DOI: https://doi.org/10.17509/jpak.v14i1.88321

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