Consumers are willing to pay higher prices for limited-edition products if they feel there’s a risk of missing out—especially when owning such products allows them to express themselves or elevate their personal image. This is the key finding of a study conducted by Dr. Phan The Anh, Director of the Marketing program, and alumna Tran Thi Hoai of Eastern International University (EIU). The research has been published in the Journal of Marketing Communications, a prestigious Q1-ranked international journal in the field of Marketing (according to the Scimago Journal Rankings). The journal currently boasts an Impact Factor of 7.7 and a Scopus CiteScore of 9.1—two critical metrics used to evaluate the credibility and citation impact of academic publications.
“We found that the feeling of ‘Fear of Missing Out’ (FoMO) not only pushes consumers to act faster but also makes them more willing to pay a premium for limited-edition products such as Popmart’s Labubu models,” said Dr. Phan The Anh, the study’s author.
This sentiment is particularly intensified in the context of social media, which increasingly encourages self-expression. According to the authors, understanding how FoMO operates and the role of individual motivations can help brands better optimize scarcity-driven marketing strategies.
The study focuses on the premium collectibles market, where brands often use scarcity to create urgency and increase perceived product value. Using survey data from 442 Labubu collectors in Vietnam, the researchers examined the psychological factors influencing purchasing behavior.
Results show that signals of limited quantity or drip restocking significantly increase feelings of FoMO, which in turn boosts willingness to pay (WTP). However, the extent of FoMO’s impact depends on the personal motivations of each consumer.
“Labubu buyers are not just attracted to the product’s beauty or rarity—it also reflects their personality or allows them to express themselves within their community,” noted co-author Tran Thi Hoai.
The study highlights the importance of self-expressive motivation (SEM) and self-presentational motivation (SPM) in shaping consumer responses to product scarcity. Specifically, individuals with high SEM prioritize expressing their identity through products, which reduces the impact of FoMO. On the other hand, those with high SPM are driven by a desire for social recognition, making them more susceptible to FoMO when products become scarce.
As a result, the study suggests that brands should tailor their marketing messages: emphasize personalization for consumers with strong SEM and highlight exclusivity and rarity for those with high SPM.
These findings offer valuable insights for marketing strategies in industries such as fashion, collectible toys, technology, and limited-edition collaborations. Brands can design campaigns that integrate scarcity cues, social media engagement, and personal motivation to stimulate strong consumer demand. At the same time, the research also raises awareness about the psychological effects of marketing tactics, helping consumers make more informed purchasing decisions.
