Purchasing Decisions and Value Perception as Mediating Variables of Iphone Users among Students in Surabaya City

Studies Management and Finance Economics, of Journal 0504-2644 (online): ISSN 0490,-2644 (print): ISSN 5202 October 10 Issue 80 Volume 8.317 Factor: Impact ,28-i10-10.47191/jefms/v8 DOI: Article 5368 -6845 No: Page JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6845 Purchasing Decisions and Value Perception as Mediating Variables of Iphone Users among Students in Surabaya City Constatina Dhaca1, Dhani Ichsanuddin Nur2, Nanik Haryana3 1,2,3Master of Management Study Program, Faculty of Economics and Business, Universitas Pembangunan Nasional “Veteran” Jawa Timur ABSTRACT: The competition in the Indonesian smartphone industry is becoming increasingly intense, while iPhone’s market share remains relatively lower compared to other brands, despite dominating global sales. The objective of this study is to analyze the influence of Fear of Missing Out (FoMO) and Hedonic Lifestyle on Purchase Decision, with Perceived Value as a mediating variable among iPhone users who are university students in Surabaya. This research employs a quantitative approach with Structural Equation Modeling (SEM) – Partial Least Squares (PLS) as the analytical technique. The sample consists of 165 students from public universities in Surabaya, selected using a convenience sampling method. Data were collected through a Likert-scale questionnaire. The results indicate that Fear of Missing Out (FoMO) and Hedonic Lifestyle significantly contribute to iPhone Purchase Decisions, both directly and indirectly through Perceived Value. Furthermore, Perceived Value plays a mediating role in strengthening the influence of Fear of Missing Out (FoMO) and Hedonic Lifestyle on Purchase Decision. KEYWORDS: Fear of Missing Out (FoMO), Hedonic Lifestyle, Perceived Value, Purchase Decision I. INTRODUCTION Smartphones have become an inseparable part of daily life, used by children, teenagers, and adults alike. Today, smartphones are considered a necessity, which has driven the demand for communication devices and, consequently, intensified competition within the telecommunications industry. Each year, demand for smartphones continues to increase. Many smartphone manufacturers compete by offering various features and advantages that encourage consumers to make purchases (Putra & Aminah, 2022). Globally, Apple dominates the smartphone market. Its products led global smartphone sales in the first quarter of 2024, with the iPhone 15 emerging as the best-selling model, accounting for 4.4% of global sales. However, this contrasts with the Indonesian market share, where Apple’s position is relatively weaker compared to other brands (Katadata, 2024). While Cambodia, Vietnam, and Thailand rank as the top three Southeast Asian countries with the largest iPhone market share, Indonesia lags behind. Nevertheless, Statcounter’s 2024 Top Brand Index shows that iPhone still holds the second position in Indonesia, following Samsung. The proportion of smartphone users in Indonesia continues to rise. In 2022, around 204.7 million people, or 73.7% of the total population, owned a smartphone. This rapid growth has pushed companies to innovate and compete for market share, ultimately benefiting consumers by providing more options in terms of brand, model, quality, and trends (Hidayah et al., 2023). Graphics: Top Smartphone Brands in Indonesia Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6846 Statcounter’s survey also highlights a notable difference between Samsung (34.70%) and iPhone (26.70%) market shares in Indonesia, reflecting relatively lower purchase intention for iPhones. At the same time, Google’s Think Tech report, Rise of Foldables: The Next Big Thing in Smartphones, states that there are approximately 354 million active smartphones in Indonesia— 128% of the country’s population—indicating that many Indonesians own more than one device. Indonesia ranks fourth in the world’s largest smartphone markets, after China, India, and the United States. The widespread use of smartphones has reshaped lifestyles, with individuals becoming increasingly reliant on technology for daily activities (Habeahan, 2019). University students, particularly Millennials and Gen Z, represent one of the most active groups on social media. They are open to global trends and willing to make purchase decisions, even with limited financial resources, in order to stay socially relevant and up to date with technological advancements (Solomon, 2019). Prior research shows that students purchase iPhones not only for functional purposes but also for social values such as prestige and recognition (Setyariningsih et al., 2024). Surabaya was selected as the research location as it is Indonesia’s second-largest metropolitan city, with more than 150,000 students, making it a representative case for examining the effects of FoMO and hedonic lifestyle on perceived value and iPhone purchase decisions (BPS Kota Surabaya, 2023). Consumer behavior is now heavily influenced by psychological factors such as FoMO and hedonic lifestyle. FoMO refers to the fear of being left out of social trends, which encourages impulsive buying behavior to maintain social relevance (Syandana & Dhania, 2024). Previous studies confirm that FoMO and hedonic lifestyle significantly influence purchase decisions for premium products, including iPhones (Nizam, 2024). A hedonic lifestyle reflects a consumption orientation driven by pleasure, instant satisfaction, and social image, which eventually shape the symbolic and emotional value perception of a product (Kotler & Keller, 2022). Thus, both FoMO and hedonism act as stimuli within the Stimulus-Organism-Response (S-O-R) framework, influencing consumer perceptions (organism) before triggering purchase decisions (response) (Mehrabian & Russell, 1974). However, research gaps remain regarding the mediating role of perceived value between FoMO, hedonic lifestyle, and purchase decision— particularly among university students who use iPhones in major cities. Perceived value encompasses not only functional aspects but also symbolic and emotional dimensions, which play a critical role in brand loyalty and consumption behavior (Putra Pratama et al., 2024). Previous studies have focused on other product categories and have not fully examined the interrelationship of these four variables in one comprehensive framework. Therefore, this study seeks to fill the gap by investigating the role of perceived value as a mediator between FoMO, hedonic lifestyle, and purchase decision, under the title: “Purchase Decision and Perceived Value as a Mediating Variable of iPhone Users among University Students in Surabaya.” II. LITERATURE REVIEW A. Stimulus-Organism-Response (S-O-R) Theory The Stimulus-Organism-Response (S-O-R) theory developed by Mehrabian and Russell (1974) explains that individual behavior is not merely a direct response to external stimuli but is also influenced by internal processes that mediate between stimulus and response. This model consists of three main components: stimulus, which refers to triggers from physical, social, digital, or emotional environments; organism, which represents internal psychological processes such as emotions, perceptions, and cognitive evaluations; and response, which includes observable actions, purchase intentions, or emotional reactions. The distinctiveness of this theory lies in its emphasis on the internal processes bridging stimulus and response, allowing for a flexible cause–effect relationship across various types of stimuli. It is particularly relevant for consumer behavior research, especially in the contexts of digital marketing, e-commerce, and consumer psychology. B. Value-Based Adoption Model (VAM) The Value-Based Adoption Model (VAM), introduced by Kim et al. (2007), asserts that product or service adoption depends on perceived value, which is the balance between perceived benefits and perceived sacrifices. Benefits may include utilitarian (functionality and efficiency), hedonic (emotional satisfaction), and social (status and social recognition), while sacrifices involve monetary costs, time, effort, and psychological risks. Perceived value emerges when the benefits outweigh the sacrifices, thereby encouraging adoption intention or purchase decision. This theory is widely applied in the context of digital consumption, modern lifestyle, and consumer behavior, as it effectively explains how perceived value influences consumer adoption choices. C. Fear of Missing Out (FoMO) Fear of Missing Out (FoMO) is a psychological phenomenon in which individuals feel anxious or fearful of being excluded from important social experiences or information. The concept, initially introduced by McGinnis (2020), highlights that FoMO arises Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6847 from biological needs for group acceptance as well as cultural factors reinforced by technological and social media developments. FoMO is typically influenced by the intensity of social media use, ease of information access, and limited communication skills (Przybylski et al., 2021). As a result, individuals are driven to constantly monitor social media, participate in activities for the sake of visibility, and even construct exaggerated self-images both online and offline. Indicators of FoMO include fear, worry, anxiety, feelings of inadequacy, threatened self-esteem (Gimena et al., 2024), and a compulsive urge to remain connected and monitor others’ social activities (Przybylski et al., 2013). Thus, FoMO can be understood as a digital social-emotional reaction that bridges external stimuli, psychological processes, and individual behavior. D. Purchase Decision Purchase decision refers to consumer actions in selecting and buying products or services to satisfy needs and desires, which follow the stages of problem recognition, information search, evaluation of alternatives, and post-purchase evaluation (Kotler & Keller, 2022). According to Anggara (2016), purchase decision is a problem-solving approach in acquiring goods and services, while Probo Ningtyas & Ula Ananta Fauzi (2023) define it as a process of choosing among alternatives. Factors influencing purchase decision include initiators, influencers, decision-makers, buyers, and users (Wijaya et al., 2024). Indicators of purchase decision include product satisfaction, purchase purpose, recommendations, repurchase behavior, price sensitivity, shopping habits, perceived value, as well as the impact of digital reviews and economic conditions (Fine & Wardhani, 2022). E. Perceived Value Perceived value is consumers’ assessment of a product’s benefits compared to the sacrifices made, whether functional, emotional, or symbolic (Mahyuzar, 2020). Mahyuzar highlights that the greater the perceived benefits, the higher the likelihood of consumer satisfaction and loyalty. Sabara (2023) emphasizes that promotion, service quality, and brand image shape perceived value, which in turn influences consumer satisfaction and loyalty. In marketing, a deep understanding of perceived value helps companies design communication strategies and offerings aligned with consumer expectations. Key factors include product quality, price, and brand image, which enhance psychological value (Probowati & Nugrahani, 2025). High perceived value leads to trust, decision-making ease, post-purchase satisfaction, and loyalty (Ramadhan & Ali, 2024). Indicators include product benefits, price fairness, accessibility, psychological satisfaction, as well as additional aspects such as relative price, service, flexibility, and brand trust. F. The Effect of Fear of Missing Out (FoMO) on Purchase Decision FoMO drives consumers to make rapid and impulsive purchase decisions out of fear of missing trends or opportunities. From the S-O-R perspective (Mehrabian & Russell, 1974), FoMO serves as a stimulus that creates social pressure, prompting consumers to respond by purchasing without lengthy evaluation. Research shows that higher levels of FoMO increase purchase tendencies, particularly impulsive buying during promotions or limited-time discounts (Suhartini & Maharani, 2023). Similarly, El Halidy & DS (2022) found that FoMO influences unplanned purchase decisions on e-commerce platforms during major promotional events such as Harbolnas. Consumers experiencing FoMO are fearful of losing opportunities or special limited-time offers, which leads them to engage in impulsive buying without thorough consideration. Hypothesis 1 (H1): Fear of Missing Out has a positive and significant effect on iPhone purchase decisions among university students in Surabaya. G. The Effect of Hedonic Lifestyle on Purchase Decision A hedonic lifestyle encourages consumers to purchase products for pleasure, status, and emotional experiences, rather than solely for needs. Research indicates that hedonic consumers are influenced by emotions such as excitement and nostalgia (Schiffman & Wisenblit, 2019), as well as digital experiences like augmented reality and social interactions in e-commerce (Li et al., 2023). Other studies show that emotional satisfaction increases repurchase intention (Lou et al., 2023), while social media reinforces impulsive behavior and preference for unique experiences. Kim & Sullivan (2023) reveal that modern consumers often use social media to seek emotionally satisfying shopping experiences. Zhang et al. (2023) support this finding, demonstrating that social media marketing campaigns on platforms such as Instagram and TikTok encourage impulsive purchases and strengthen preferences for unique experiences. Hypothesis 2 (H2): Hedonic lifestyle has a positive effect on iPhone purchase decisions among university students in Surabaya. H. The Effect of Fear of Missing Out (FoMO) on Purchase Decision through Perceived Value According to the S-O-R theory (Mehrabian & Russell, 1974), FoMO functions as an external stimulus influencing consumers’ perceived value of a product, primarily due to social validation and the need for recognition. Research suggests that FoMO enhances hedonic drives, urgency, and perceptions of exclusivity, making consumers assign greater value to products even with Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6848 limited information (Stephanus Solaiman & Pangaribuan, 2024; Rachman et al., 2024). Xu (2024) further explains that FoMO increases sensitivity to social opinions, producing a subjective form of “social value.” Consumers often perceive popular products on social media as having higher value, even if the judgment is based more on social anxiety and the desire for association rather than rational analysis. Hypothesis 3 (H3): Fear of Missing Out has a positive effect on purchase decision through perceived value among iPhone users who are university students in Surabaya. I. The Effect of Hedonic Lifestyle on Purchase Decision through Perceived Value Based on the S-O-R theory (Mehrabian & Russell, 1974), a hedonic lifestyle serves as a stimulus that shapes perceived value, as hedonic consumers tend to highly value products that provide prestige, atmosphere, or emotional experiences. Research shows that hedonic motivation drives impulsive behavior, the pursuit of new pleasures, and purchases for social recognition (Anggraeni & Gunawan, 2024). Fauzi et al. (2024) highlight that perceived value plays an essential mediating role, as hedonic consumers place greater emphasis on symbolic aspects such as brand image and consumer experiences, which significantly affect purchase decisions. Saputra & Kuswati (2024) also found that hedonic motivations and positive feelings significantly influence impulsive buying behavior, particularly when shopping is used as a form of self-expression. Hypothesis 4 (H4): Hedonic lifestyle has a positive effect on purchase decision through perceived value among iPhone users who are university students in Surabaya. III. METHODOLOGY A. Research Type and Design This study employs an associative strategy to analyze the relationships among variables, namely Fear of Missing Out (FoMO) (X1), Hedonic Lifestyle (X2), Perceived Value (Z) as the mediating variable, and Purchase Decision (Y) as the dependent variable. The method used is a survey with a quantitative approach, utilizing a Likert-scale questionnaire (1–5) to measure respondents’ attitudes, perceptions, and opinions (Sugiyono, 2021). The operational definitions of each variable are outlined through specific indicators: FoMO is measured by fear, worry, anxiety, feelings of deficiency, and self-esteem (Gimena et al., 2024); Hedonic Lifestyle includes consumption behavior, activities, curiosity, trend-following tendency, and desire for attention (Yana & Setyawan, 2023); Purchase Decision is measured by product confidence, purchase purpose, recommendation, and repurchase intention (Fine & Wardhani, 2022); while Perceived Value encompasses product benefits, price-quality fit, ease of access, and psychological satisfaction (Rifai, 2024). The research was conducted among iPhone-using students from several universities in Surabaya, including UPN Veteran Jawa Timur, Universitas Airlangga, Universitas Negeri Surabaya, ITS, and UIN Sunan Ampel, over a duration of approximately one month. B. Population and Sample The population in this study comprises students from five public universities in Surabaya who use iPhones, in accordance with the definition of population as a generalization area with specific characteristics (Sugiyono, 2021). The sample was determined using convenience sampling, a non-probability technique in which respondents are selected based on accessibility, availability, and proximity to the researcher rather than randomization. The sample size was calculated based on Ferdinand’s (2019) guideline, which recommends 5–10 times the number of estimated parameters. With 17 indicators, the required sample size amounted to 165 respondents. Therefore, the study involved 165 students from the five universities as the research sample. C. Data Collection Techniques This study employed both primary and secondary data sources. Primary data were obtained through questionnaires, while secondary data served as supporting references. Data collection was carried out in two ways: (1) distribution of closed-ended questionnaires, in which response alternatives were predetermined and respondents were asked to provide answers through equestionnaires; and (2) direct observation of the research objects, particularly respondents’ relevant activities. The questionnaires were designed according to research needs to ensure systematic and focused data collection. D. Data Analysis Techniques Data processing was conducted using SmartPLS version 3 with the Partial Least Squares (PLS) method. PLS was chosen because it is capable of analyzing latent variables that cannot be directly measured, but instead are represented through indicators (Ghozali, 2021). The analysis was performed in three main stages: Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6849 1. Outer Model Analysis – to evaluate the validity and reliability of latent constructs through convergent validity (loading factor > 0.7), discriminant validity (cross-loading higher on the intended construct), composite reliability (> 0.7), Cronbach’s alpha (> 0.6), and average variance extracted (AVE > 0.5). 2. Inner Model Analysis – to predict the relationships among latent variables using R-squared values (0.67 substantial, 0.33 moderate, 0.19 weak), effect size (f²: 0.02 small, 0.15 medium, 0.35 large), and predictive relevance Q² (0.02 small, 0.15 medium, 0.35 large). 3. Hypothesis Testing – using full structural equation modeling (SEM) in SmartPLS, by evaluating path coefficients and p-values. A hypothesis is accepted if p-value < 0.05, indicating a significant effect between latent variables. IV. RESULTS A. Outer Model(Measurement Model and Indicator Validity) Figure 1.Hypothesis Testing Construct Diagram Table 1.Outer Loadings (Factor Loading) Outer Loadings matrix FoMO (X1) Hedonistic Lifestyle (X2) Purchase Decision (Y) Perceived Value (Z) X1.1 0,801 X1.2 0,769 X1.3 0,731 X1.4 0,767 X1.5 0,790 X2.1 0,804 X2.2 0,799 X2.3 0,836 X2.4 0,847 X2.5 0,811 Y1 0,791 Y2 0,774 Y3 0,747 Y4 0,788 Z1 0,817 Z2 0,815 Z3 0,781 Z4 0,837 Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6850 Based on the table resultsouter loading on, Loading Factor(factor loading), for example for indicators on variablesFear of Missing Out (FoMO) (X1), X1.1= 0.801; X1.2= 0.769; X1.3= 0.731; X1.4= 0.767; X1.5= 0.790; and so on > greater than 0.5 then it meets convergent validity. The results of the analysis in the table above show that all indicators in the research variables, namely the variablesFear of Missing Out(FoMO), Hedonic Lifestyle, Value Perception and Decisions of iPhone users have loading factor> 0.5, then the indicator for each variable is declared to fulfill convergent validity. B. Structural Model Testing Table 2 R Square R Square R Square Adjusted Purchase Decision (Y) 0,663 0,653 Perceived Value (Z) 0,428 0,418 The test results show that the R-Square value for the purchasing decision variable (Y) is 0.663, which means that FoMO, hedonic lifestyle, and perceived value are able to explain 66.3% of the variation in purchasing decisions, while 33.7% is influenced by other factors outside the model. Predictive relevance supports this finding, with a Q-Square value of 0.663 (>0) indicating that the model has relevant predictive ability and is able to explain information in the research data by 66.3%. C. Hypothesis Testing Table 3. Path Coefficients(Direct Impact) Original sample (O) Sample Mean (M) Standard Deviation (STDEV) T Statistics (|O/STDEV |) P Values FoMO (X1) -> Purchase Decision (Y) 0.333 0,338 0,091 3,653 0,000 FoMO (X1) -> Perceived Value (Z) 0,263 0,271 0,092 2,854 0,005 Hedonistic Lifestyle (X2) -> Purchasing Decision (Y) 0,336 0,335 0,115 2,923 0,004 Hedonistic Lifestyle (X2) -> Value Perception (Z) 0,340 0,341 0,112 3,042 0,002 Value Perception (Z) -> Purchase Decision (Y) 0,249 0,243 0,113 2,200 0,028 Based on hypothesis testing in the PLS Model and Table 11 causality test (causal relationship) can be interpreted as follows: 1. Fear of Missing Out(FoMO) (X1) has a positive and significant effect on Purchasing Decisions (Y), with a path coefficient value of 0.333, T-statistics of 3.653, and p-value of 0.000 < 0.05. 2. Fear of Missing Out(FoMO) (X1) also has a positive and significant effect on Perceived Value (Z), with a coefficient of 0.263, T-statistics of 2.854, and a p-value of 0.005 < 0.05. 3. Hedonic Lifestyle (X2) has a significant positive influence on Purchasing Decisions (Y), with a coefficient value of 0.336, Tstatistics of 2.923, and p-value of 0.004 < 0.05. 4. Hedonic Lifestyle (X2) also has a positive and significant effect on Perceived Value (Z), with a coefficient value of 0.340, Tstatistics of 3.042, and p-value of 0.002 < 0.05. 5. Perceived Value (Z) has a significant positive effect on Purchasing Decisions (Y), with a coefficient of 0.249, T-statistics of 2.200, and p-value of 0.028 < 0.05. Table 4 Indirect Effects (Indirect Influence) Original Sample (O) Sample Mean (M) Standard Deviation (STDEV) T Statistics (|O/STDEV|) P Values FoMO (X1) -> Perceived Value (Z) -> Purchase Decision (Y) 0,108 0,104 0,055 1,970 0,049 Hedonic Lifestyle (X2) -> Perceived Value (Z) -> Purchase Decision (Y) 0,068 0,061 0,033 2,084 0,038 Based on hypothesis testing in the PLS Model and Table 12 causality test (causal relationship and indirect influence) , shows that perceived value acts as a significant mediating variable, indicated by the indirect influence of FoMO on purchasing decisions Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6851 with a coefficient of 0.108 (p-value 0.049 < 0.05) and the indirect influence of hedonic lifestyle on purchasing decisions with a coefficient of 0.068 (p-value 0.038 < 0.05), so it can be concluded that perceived value strengthens the relationship between the two independent variables and purchasing decisions. V. DISCUSSION A. The Effect of Fear of Missing Out (FoMO) on Purchase Decision The phenomenon of Fear of Missing Out (FoMO) has become a crucial psychological factor in consumer behavior in the digital era, particularly in purchasing decisions for high-tech products such as the iPhone. FoMO reflects the anxiety experienced when individuals feel left behind from others’ experiences, especially those showcased on social media (Nizam, 2024). Marketing strategies such as flash sales, limited-time offers, and influencer promotions often capitalize on FoMO to encourage consumers to make immediate purchases (Hodkinson, 2019). FoMO has also been defined as the anxiety arising from the belief that others are engaging in enjoyable activities without one’s participation (Przybylski et al., 2021). Among university students in Surabaya, FoMO has been proven to exert a positive and significant effect on iPhone purchase decisions. For them, owning an iPhone is not only viewed as having a communication device but also as a symbol of social acceptance and prestige among peers. This finding aligns with studies that show the higher the level of FoMO, the greater the likelihood of consumers purchasing products, including iPhones (Tandon et al., 2021). Similar results have been reported by other researchers, who confirmed FoMO’s significant impact on purchase decision-making (Wachyuni et al., 2024a). Additional studies also highlight that FoMO drives consumptive behavior, especially for socially prestigious products such as iPhones (Suhartini & Maharani, 2023). Within the Stimulus-Organism-Response (S-O-R) framework (Mehrabian & Russell, 1974), FoMO acts as a stimulus that creates social and emotional pressure, which in turn triggers fast purchase decisions—often without rational consideration. Social media amplifies this phenomenon by positioning the iPhone as a status symbol, a tool for self-actualization, and an instrument for maintaining digital existence, making FoMO a dominant factor in students’ consumptive behavior. B. The Effect of Hedonic Lifestyle on Purchase Decision A hedonic lifestyle motivates consumers to purchase products for pleasure, emotional experiences, and social status, rather than solely for functional needs (Junita, 2024). Hedonism is understood as a life orientation that emphasizes enjoyment without regard to long-term consequences, making pleasure the ultimate goal (Fitria, 2022). The results of this study demonstrate that a hedonic lifestyle has a positive and significant effect on iPhone purchase decisions among students in Surabaya. This is consistent with previous findings showing that consumers with a hedonic lifestyle are driven to purchase products for aesthetic satisfaction and social status (Nizam, 2024). Other studies confirm that hedonic lifestyle is a key factor in consumptive behavior, particularly in technology and fashion products (Aminah, 2024). This is in line with the S-O-R theory, where a hedonic lifestyle serves as an emotional stimulus that directly drives individuals to make purchases (Mehrabian, 1974). This phenomenon is evident among Surabaya students who perceive the iPhone as a status symbol and a tool for enhancing self-image on social media. The advanced camera quality, innovative features, and the satisfaction of producing high-quality visual content further reinforce the purchasing drive. Additionally, the comfort of social interactions and the desire to follow the latest technology trends position the iPhone not merely as a communication device but as part of a modern lifestyle. Statistical tests confirm that the higher the level of hedonic lifestyle, the greater the tendency to purchase an iPhone. Thus, hedonic lifestyle significantly shapes purchase decisions through motives of status, trend-following, and emotional gratification. C. The Effect of Fear of Missing Out (FoMO) on Purchase Decision Mediated by Perceived Value Fear of Missing Out (FoMO) represents a psychological drive triggered by individuals’ fear of missing out on social experiences enjoyed by others. In consumer behavior, FoMO pushes individuals to purchase products or follow trends in order to avoid being left behind. Young people often experience this due to their emotional attachment to social groups (Ali, 2024). Among students, the anxiety of missing trends or opportunities compels them to purchase popular products like iPhones to remain connected and socially acknowledged. This influence does not only directly impact purchase intention but also strengthens perceived product value. Students perceive trending products such as iPhones as having superior quality and benefits, along with enhancing self-image. Thus, FoMO shapes emotional and social perceptions that ultimately encourage purchasing decisions. This study confirms that FoMO has a positive and significant effect on purchase decision through perceived value, thereby supporting the hypothesis. The higher the FoMO, the greater the perceived value, which in turn strengthens the purchasing drive. Purchasing Decisions and Value Perception as Mediating Variables of iPhone Users among Students in Surabaya City JEFMS, Volume 08 Issue 10 October 2025 www.ijefm.co.in Page 6852 These findings are consistent with previous research (Wachyuni et al., 2024; Faturrachman & Rachbini, 2025; Stephanus Solaiman & Pangaribuan, 2024; Xu, 2024), which emphasize that social emotions such as FoMO influence value perceptions and drive consumptive behavior. Within the S-O-R framework (Mehrabian, 1974), FoMO acts as an external stimulus influencing internal psychological processes—particularly perceived value—which ultimately leads to purchase decision. D. The Effect of Hedonic Lifestyle on Purchase Decision Mediated by Perceived Value Lifestyle reflects consumer identity, encompassing activities, interests, and psychographic values that shape consumption behavior (Solomon, 2019; Kotler, 2022). A hedonic lifestyle is characterized by a tendency to spend excessively for personal pleasure, social recognition, or positive self-image. Consumers with a hedonic lifestyle tend to assign high value to products that provide emotional and symbolic pleasure, making perceived value a crucial mediator in influencing purchase decisions. The findings of this study reveal that a hedonic lifestyle has a positive and significant effect on purchase decisions through perceived value. This means that the higher the level of hedonism, the greater the perceived value of a product, which further reinforces the purchasing drive. This result aligns with previous studies (Andhini, 2025); (Yurizal & Damaiyanti, 2024); (Anggraeni & Gunawan, 2024); (Saputra & Kuswati, 2024)), which confirmed that hedonic lifestyle influences purchase decisions with perceived value serving as an important mediator. Within the S-O-R framework (Mehrabian, 1974), hedonic lifestyle acts as a stimulus shaping emotional and symbolic evaluations of a product, which then influence purchasing decisions. For iPhone users, the main appeal lies in camera quality, elegant design, and innovative features that serve not only technical functions but also reflect social status. Perceived value emerges when consumers assess that the quality and benefits of the iPhone are proportional to its price, supported by product availability across multiple sales channels. This process reinforces the belief that the iPhone is an integral part of modern lifestyle, making purchase decisions both logical and emotional. VI. CONCLUSIONS Based on the results of the PLS analysis, this study concludes that Fear of Missing Out (FoMO) and Hedonic Lifestyle significantly influence iPhone purchase decisions among university students in Surabaya. The psychological drive to avoid being left behind in trends, along with orientations toward luxury and prestige, motivates students to choose iPhones not only for their functional utility but also as a symbol of social status. Furthermore, Perceived Value was found to strengthen the relationship between FoMO, Hedonic Lifestyle, and Purchase Decision. The higher the students’ evaluation of the benefits, image, and prestige associated with iPhones, the stronger their purchasing drive becomes. These findings confirm that psychological factors, lifestyle, and perceived value are key determinants of consumer behavior toward premium technology products. From a managerial perspective, marketing communication strategies for iPhones should emphasize urgency and exclusivity through limited-stock promotions or special editions, while simultaneously highlighting luxury and social prestige to attract consumers’ interest. In addition, exclusive experiences through personalized services, loyalty programs, and after-sales services need to be enhanced to reinforce perceived value. For future research, it is recommended to include additional variables such as brand image, social media influence, or consumer trust, as well as to expand the research scope to different regions. This will provide a more comprehensive understanding of iPhone purchase behavior in various contexts. REFERENCES 1) Andhini, A. N. (2025). Pengaruh Persepsi Kualitas, Gaya Hidup Hedonis, Dan Viral Marketing Terhadap Keputusan Pembelian Hijab Buttonscarves. 2) Anggraeni, Y., & Gunawan, K. (2024). 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