Antecedents and consequences of panic buying: The case of COVID-19
Article
Prentice, Catherine, Quach, Sara and Thaichon, Park. 2022. "Antecedents and consequences of panic buying: The case of COVID-19." International Journal of Consumer Studies. 46 (1), pp. 132-146. https://doi.org/10.1111/ijcs.12649
| Article Title | Antecedents and consequences of panic buying: The case of COVID-19 |
|---|---|
| ERA Journal ID | 19860 |
| Article Category | Article |
| Authors | Prentice, Catherine (Author), Quach, Sara (Author) and Thaichon, Park (Author) |
| Journal Title | International Journal of Consumer Studies |
| Journal Citation | 46 (1), pp. 132-146 |
| Number of Pages | 15 |
| Year | 2022 |
| Publisher | John Wiley & Sons |
| Place of Publication | United Kingdom |
| ISSN | 1470-6423 |
| 1470-6431 | |
| Digital Object Identifier (DOI) | https://doi.org/10.1111/ijcs.12649 |
| Web Address (URL) | https://onlinelibrary.wiley.com/doi/full/10.1111/ijcs.12649 |
| Abstract | Panic buying emerged as a significant phenomenon during the COVID-19 pandemic. This study draws on the scarcity principle, crowd psychology and contagion theory to investigate the antecedents and consequences of panic buying. The antecedents included in this study are government measures, media and peer influence and the fear of missing out. The consequences are founded on a sense of security and guilt. Retailer intervention is included as a moderator to the proposed main effects. Data were collected from 341 consumers who engaged in panic buying and were residents of the United States and Australia during the COVID-19 pandemic. Structural equation modelling was employed to test the proposed model. The results show that the proposed antecedents (except fear of missing out) were significantly related to panic buying, which in turn had a significant influence on panic buyers' psychological outcomes. The moderating effects of retailer intervention varied across different product categories. Discussion and implications of these findings are provided for policy makers, customers and practitioners. |
| Keywords | consumer behaviour, COVID-19, crowd psychology, interventions, panic buying, public policy, social media |
| ANZSRC Field of Research 2020 | 350799. Strategy, management and organisational behaviour not elsewhere classified |
| 350699. Marketing not elsewhere classified | |
| Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
| Byline Affiliations | Griffith University |
| Institution of Origin | University of Southern Queensland |
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https://research.usq.edu.au/item/q7808/antecedents-and-consequences-of-panic-buying-the-case-of-covid-19
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