Exploring the impact of FOMO and perceived value on user engagement: The mediating role of trust in Tring! by Pegadaian's digital gold service

Abstract

Background: This study examines the impact of Fear of Missing Out (FOMO) and perceived value on user engagement in the context of the digital gold service on Tring! by Pegadaian, with trust serving as a mediating variable. The primary objective of this research is to explore the relationships between FOMO, perceived value, trust, and user engagement, using the Theory of Planned Behavior and Trust Theory as the theoretical foundation. Trust is hypothesized to mediate the influence of both FOMO and perceived value on user engagement. Methods: A quantitative approach was employed, utilizing Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze data collected from 350 active users of the digital platform. Findings: The findings reveal that while FOMO and perceived value positively influence trust, only Trust has a significant direct effect on User Engagement. Trust also mediates the relationship between both FOMO and perceived value and user engagement, with statistical significance (p < 0.05). These results suggest that the perception of value plays a crucial role in enhancing trust, which in turn drives user engagement. The research highlights the need for digital investment platforms, such as the digital gold service on Tring! by Pegadaian, to foster trust-based experiences that align with users' psychological and emotional factors to improve long-term engagement. Conclusion: These findings contribute theoretically by extending the application of the Theory of Planned Behavior and trust theory in digital investment platform research, demonstrating that Trust functions as a key mediating mechanism linking psychological and perceptual factors to user engagement. Novelty/Originality of this article: Practically, the study provides strategic insights for digital platform managers to strengthen trust-building mechanisms, enhance perceived value, and foster sustainable user engagement and retention. The findings also highlight the importance of digital platforms as technology-mediated communication environments, where trust facilitates user participation, interaction, and long-term engagement.