1 hr ago
iPhone 18 FOMO Drives Impulse Spending Among Consumers
The newest iPhones became very popular when they went on sale in India.
Many celebrities and influencers showed their new phones online.
This made some people feel they also needed to buy one quickly.
Experts call this feeling FOMO, or fear of missing out.
FOMO can make a phone seem necessary even when an older phone still works.
Buying the phone can also cost more because of insurance, accessories, repairs and loan fees.
Experts warn people not to use emergency savings for an expensive gadget.
They suggest waiting before buying and checking whether the purchase fits the budget.
The excitement of owning the newest model may disappear after a few weeks.
The iPhone 18 Pro and Pro Max went on sale in India on September 18, drawing long queues at Apple outlets.
Celebrities and influencers showcasing their upgrades reportedly increased consumers’ fear of missing out.
Experts said limited offers, social-media exposure and celebrity endorsements can make buyers feel pressured to purchase.
Financial advisers warned that accessories, insurance, repair costs, processing fees and EMIs increase the phone’s real cost.
Experts recommended waiting 10 or 30 days, protecting emergency funds and considering the full cost before buying.
- Who
- Indian consumers, celebrities, influencers, neuropsychologist Neelam Mishra, finance expert Shreesham Gupta and technology executive Harshavardhan Pusala.
- What
- The iPhone 18 launch reportedly fueled FOMO and impulse spending, prompting experts to warn about financial and emotional risks.
- Where
- At Apple outlets in India, with additional pressure generated through social media and an Apple event in Mumbai.
- When
- The iPhone 18 Pro and iPhone 18 Pro Max went on sale on September 18; experts discussed the spending effects afterward.
- Why
- Limited-time marketing, social proof, status concerns and repeated online exposure can make consumers feel they are missing out.
Purchase Flexibility
Spending Caution
Using EMIs for upgrades
Purchase Flexibility
No-cost EMIs can make expensive smartphones appear more accessible and allow consumers to purchase the latest model.
Spending Caution
EMIs can encourage impulsive purchases and obscure the total cost, including processing fees, existing obligations and opportunity cost.
Social status and satisfaction
Purchase Flexibility
A new phone can provide pride, improve mood and help consumers express their identity or status.
Spending Caution
The excitement may fade within weeks, while constant comparison can create anxiety and pressure to keep upgrading.
How to decide
Purchase Flexibility
Consumers may proceed if the desire persists after a waiting period and the purchase fits their planned spending allocation.
Spending Caution
Consumers should buy only if they could comfortably afford the full amount from available savings without compromising emergency reserves.
Key facts
- Models discussed
- iPhone 18 Pro and iPhone 18 Pro Max
- Sale date
- September 18
- Market
- India
- Starting prices
- Rs 1,64,000 for the iPhone 18 Pro and Rs 1,79,000 for the iPhone 18 Pro Max
- Potential repair cost
- Out-of-warranty screen replacements can cost 20 to 30 per cent of the phone’s value
- Suggested waiting period
- 10 or 30 days before reconsidering the purchase
- Financial warning
- Experts advised consumers not to use emergency funds for the upgrade
Quotes
Harshavardhan Pusala
Founder and CEO of Techurate Systems Pvt. Ltd.
“FOMO is just an old fear wearing new clothes. It is that nagging sense that everyone else is in on something good, and you're the one standing outside. We're wired for belonging. Being excluded from the tribe used to be dangerous, so our brains still treat it that way, even when the 'tribe' is just Instagram.”
NDTV
“Traditional advertising tells you why a product is valuable. Influencer content adds social proof: you see someone you follow buying, unboxing and using the product. That creates familiarity and reduces the psychological barrier to purchase.”
NDTV
Sources
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