Factors Affecting Panic Buying during COVID-19 Outbreak and Strategies: A Scoping Review

Abstract

Background: This study aimed to assess factors affecting panic buying and strategies to deal with them during COVID-19 with a scoping review.
 Method: The review was performed based on Arksey and O’Malley. PubMed, Embase, Scopus, ProQuest, and Science Direct databases were selected to search. All English language full-text articles from Jan 2020 to May 2021 were included. Initially, the titles and abstracts of the retrieved articles were read and screening was accomplished based on the research question. After that, the full text of eligible studies was examined. A third reviewer was resolved disagreements at any stage by a consensus meeting. A self-assessment form was designed for data extraction. The causes of panic buying were assessed as a descriptive study.
 Results: The search process returned 23 articles after deletion for complete data extraction and analysis. Through thematic analysis, the factors influencing panic buying were divided into six categories including cognitive, emotional, behavioral, social, and economic factors as well as government action, and finally, the recommended strategies were categorized in two categories included psychosocial and economic.
 Conclusion: A holistic view of panic buying’s causes allows planners and decision-makers to design categorized strategies beyond the suggested strategies. Increasing customer awareness and monitoring the flow of information through social media and mass media, psychotherapy, counseling, and economic strategies are considered by planners to combat panic buying.

Review on Panic Buying Behavior during Pandemics: Influencing Factors, Stockpiling, and Intervention Strategies

“…Each of the above interventions does not individually act on all stages of the SEFP ( Figure 2 ), and general categorizations such as economic and psychological interventions prove to be insufficient [ 29 ]. Care in the selection of interventions provides an effective and comprehensive plan.…”

“…However, these discussions frequently lack a comprehensive perspective that considers the interactive effects of crises, panic buying behavior, demand–supply relationships, and precise qualitative or quantitative solution approaches, as noted in Refs. [ 25 , 26 , 27 , 28 , 29 ]. This emphasizes the necessity for more thorough discussions in the following areas: The relative impact of numerous factors on panic buying behavior, including the influence of neighbors' behavior, disaster-related news, and empty store shelves.…”

“…However, these discussions frequently lack a comprehensive perspective that considers the interactive effects of crises, panic buying behavior, demand-supply relationships, and precise qualitative or quantitative solution approaches, as noted in Refs. [25][26][27][28][29]. This emphasizes the necessity for more thorough discussions in the following areas:…”

Did the COVID-19 transform consumers’ orthodox behavior?: A systematic literature review

“…This scoping review framework contains five stages: (a) finding research questions, (b) searching pertinent articles, (c) selecting the studies based on inclusion and exclusion criteria, (d) charting the data, and (e) organizing, summarizing, and reporting the findings (Arksey & O'Malley, 2005). To conduct the scoping review, Joanna Briggs Institute Methodology Guide for Scope of Reviews used the framework where the quality appraisal was not performed (Peters et al, 2020) mentioned in Motamed-Jahromi et al (2021). The study intends to explore new dimensions of consumer behavior during COVID-19.…”

“…In addition, Lins and Aquino (2020) stated that purchasing a greater quantity can be seen as a method of dealing with the emotions of uncertainty and as a means of self-preservation. Consequently, excessive purchasing and hoarding can lead to a surge in demand that surpasses the available supply, resulting in product shortages during times of crisis, resulting in disruptions in the supply chain (Motamed-Jahromi et al, 2021). According to Yuen et al (2021) this irrational decision of overbuying is because of fear and anxiety.…”