Have you ever waited for months to buy those must-have gig or theatre tickets, only to see them sell out within seconds or found that ‘special’ price is no longer available? And did it make your blood boil? If so, then you’ve experienced FrOMO, the Frustration Of Missing Out.
FrOMO strikes when online prices turn out to be too good to be true and you end up being charged more, either because they’ve been re-sold – as is often the case with gig tickets – or because the “last few at this price” are no longer available. It can make you think, were they ever actually available at the advertised price anyway?
Sometimes it’s the case that the eye-catching price that hooked you in the first place turns out to be a lot higher because of the added fees and charges that weren’t included in the original advertised price. For example, being charged a fee for the convenience of printing your tickets at home on your own printer!
We asked 2,000 people about their online shopping experience and almost three quarters* (74%) told us they’d experienced FrOMO when they’d been unable to buy something at the originally advertised price. More than two thirds* (69%) said they’d ended up paying more than the advertised price online, while 79%* said they felt cheated by retailers when this happens.
Unsurprisingly ticket brokers are among the worst culprits when it comes to using so-called “teaser” prices, with more than a quarter* (28%) of shoppers surveyed admitting they’d been caught out. Re-seller sites have been in the news recently with a well know online brand promising to close its secondary sales websites.
Perhaps they realised the tide of public opinion is turning as research we commissioned revealed nearly two thirds* (64%) of online shoppers surveyed said they liked brands less when they advertise using teaser prices, while 70%* said such tactics make them more likely to avoid buying from those brands in the future.
So, what can you do to bag those must- have gig tickets and avoid being sucked in by those ‘pesky’ teaser ads? Here are some hacks that might just help:
Why not find out if you’ve ever been affected by FrOMO and see what kind of online shopper you are.
*Our consumer survey was conducted by 3GEM Media Group and was undertaken between 27th June and 10th July 2018. The total sample size was 2000 adults who had experience of buying something online, and it was nationally representative on age, region and gender.