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FEAR OF MISSING OUT IN THE DIGITAL ECONOMY:
ITS IMPACT ON VIETNAMESE GEN Z’S ONLINE PURCHASE INTENTION FOR
DIETARY SUPPLEMENTS

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Pham Van Tuan* , Nhu Thanh Tam , Vu Mai Phuong , Dinh Thai Thuy Linh ,
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Nguyen Hoang Nguyet Anh , Nguyen Thuy Duong , Le Thi Diep Anh 7
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1, 2, 3, 4, 5, 6, 7 National Economics University, Hanoi, Vietnam.
(*E-mail: phamvantuan@neu.edu.vn)
ABSTRACT
This study investigates how Fear of Missing Out (FOMO) influences Generation Z’s
intention to purchase dietary supplements online in Vietnam by integrating FOMO into
the extended Health Belief Model (eHBM) within the digital consumption context. A
quantitative survey was conducted with 399 Vietnamese respondents aged 19-28, and
the data were analyzed using PLS-SEM. The measurement model showed satisfactory
reliability and validity. The results indicate that FOMO significantly influences several
health belief constructs, including perceived susceptibility, perceived benefits, perceived
barriers, and self-efficacy. Among these factors, perceived benefits and self-efficacy
positively affect purchase intention, while perceived barriers have a negative effect. In
contrast, cues to action do not show a significant direct impact. Mediation analysis
further reveals that FOMO indirectly affects purchase intention through key cognitive
evaluations related to health risks, product benefits, and behavioral capability. These
findings highlight FOMO as a socio-digital psychological driver shaping online health-
related consumption among Gen Z and extend the Health Belief Model to digitally
mediated consumption contexts.
Keywords: Dietary supplements, digital economy, fear of missing out, generation Z,
social commerce.

1. Introduction
In recent years, Vietnam has experienced rapid growth in digital technologies and e-
commerce, particularly in the health care sector. Following the COVID-19 pandemic,
consumer behavior has shifted significantly toward online purchasing channels, with
dietary supplements emerging as one of the fastest-growing product categories.
According to IMARC Group, the Vietnamese dietary supplement market reached nearly
USD 900 million in 2024 and is projected to exceed USD 1.95 billion by 2033. Additionally,
Doan Anh Dung et al. (2024) reported that 50.3% of respondents had purchased at least
one type of medicine or dietary supplement through online channels, highlighting the
growing importance of digital platforms in health-related consumption.
The development of social commerce platforms such as TikTok Shop, Facebook, and
e-commerce marketplaces integrated with social networking functions has transformed
how consumers access information and make purchasing decisions. These platforms use
algorithmic recommendation systems and artificial intelligence technologies to analyze
user behavior and deliver personalized product content (An et al., 2025); (Bok et al., 2025).
As a result, consumers are frequently exposed to health-related product promotions
through personalized feeds, user reviews, and time-limited promotional campaigns such
as flash sales or countdown discounts.

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