Panic buying in the COVID-19 pandemic: A multi-country examination
By Tahir Islam, Abdul Hameed Pitafi, V. Arya, Ying Wang, Naeem Akhtar, Shujaat Mubarik, Xiaobei Liang. 2020
460 citations recorded by the source corpus.
The global crisis of COVID-19 pandemic has ravaged the world economy and healthcare, igniting much fear, panic, and uncertainty among billions of people As lockdowns being implemented in many places, panic buying has emerged as a reliable feature of the Coronavirus outbreak Therefore, it is of urgent needs to examine consumers' panic buying behaviors during COVID-19 to gain a better understanding of the phenomenon and to provide managerial insights for policy-makers and marketers alike In this study, under the theoretical guidelines of the Stimuli-Organism-Response model and the Competitive Arousal model, we investigate how in the panic situation created by the pandemic, external stimuli such as Limited Quantity Scarcity (LQS) and Limited Time Scarcity (LTS) affect the emotional arousal among people, which in turn influences consumers’ impulsive and obsessive buying behaviors This study is conducted in a multi-country setting including the U S , China, India, and Pakistan Online surveys were conducted during the peak time of pandemic Our findings show that LQS and LTS significantly increase perceived arousal in consumers, which further leads to more impulsive and obsessive buying In addition, our results also reveal that excessive social media use intensifies the relationship between scarcity messages and perceived arousal whereas the urge to buy impulsively moderates the relationship between perceived arousal and behavioral outcomes in all selected countries except for India Theoretical and managerial implications are discussed in details © 2020 Elsevier Ltd
Subfields: Economics and Econometrics, Marketing
View Paper: https://www.semanticscholar.org/paper/e6640f70cffa94e38ca74ea05685d2003033f882
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Citations in the corpus
- Changes in Consumers’ Purchase Patterns as a Consequence of the COVID-19 Pandemic (2021, background): “[20] examined the panic shopping behavior of consumers during the COVID-19 crisis.”
- What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior? (2021, background): “It has ravaged the world’s economies and healthcare systems and instilled considerable fear, panic, and uncertainty in people of all countries [3,4].”