Understanding the Psychology Behind Panic Buying: A Grounded Theory Approach

Kaur, Amandeep; Malik, Garima

doi:10.1177/0972150920973504

Cited by 57 publications

(45 citation statements)

References 30 publications

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“…Additionally, other studies reported that PB was more common among people who were more worried about the COVID-19 pandemic and that social media possibly played a role in disseminating the worry, fear, and anxiety by showing images of empty shelves, which in turn produced a sense of scarcity and short supply (19)(20)(21). Studies from different settings have also reported that rumors regarding the shortage of supplies increased PB (22)(23)(24).…”

Section: Main Findings Of the Studymentioning

confidence: 99%

Perceived Impact of Social Media on Panic Buying: An Online Cross-Sectional Survey in Iraqi Kurdistan

Arafat¹,

Ahmad²,

Murad³

et al. 2021

Front. Public Health

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Background: Social media has an impact on panic buying by creating fear, disseminating pictures, and videos of people purchasing extra goods in a state of panic during the COVID-19 pandemic.Aim: We aimed to evaluate the perceived impact of social media on panic buying behaviors in the Iraqi Kurdistan region.Methods: This cross-sectional survey was conducted from October 10 to November 25, 2020. A self-reported instrument was designed in English and then translated to the Kurdish Language to conduct the study. It was disseminated through social media platforms (Facebook, Viber, and WhatsApp) and e-mail, via a link, and 466 responses were collected from social media users. The statistical computations were performed using SPSS version 21.Results: The majority of respondents were male (62.2%), were <25 years old (43.9%), and had completed their bachelor's degree (53.9%), and most of the respondents (86.3%) used Facebook. Among the respondents, 42.1% were involved in panic buying, 32.8% of the respondents thought that social media platforms had an influence on panic buying, 86.1% of the respondents thought that social media should be sensible while reporting it, 88.4% thought that the reporting should be controlled, and 78.5% thought that photos of empty shelves should be avoided. There was a significant positive statistical correlation (r = 0.84) between social media use and panic buying among consumers during the COVID-19 pandemic in Iraqi Kurdistan (p = <0.001).Conclusion: This research assessed how social media affects buying behavior, particularly in Iraq. Collective measures, such as sensible use and adequate media literacy, are needed to prevent such behaviors at least during public health emergencies.

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Section: Main Findings Of the Studymentioning

confidence: 99%

Perceived Impact of Social Media on Panic Buying: An Online Cross-Sectional Survey in Iraqi Kurdistan

Arafat¹,

Ahmad²,

Murad³

et al. 2021

Front. Public Health

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“…In a reaction of fear to perceived and real scarcity, this sudden change in consumer behavior occurs in emergencies as a mass psychological phenomenon looking for survival. However, consumers accumulation of products on a large scale results in a lack of product supply in the market and a consequent increase in average prices (ANASTASIADOU et al, 2020; ANTONIDES; VAN LEEUWEN, 2020;BARNES et al, 2020;DONTHU;GUSTAFSSON, 2020;KAUR;MALIK, 2020;KIRK;RIFKIN, 2020;LI et al, 2020;LOXTON et al, 2020;PRENTICE et al, 2020;ELLISON et al, 2021).…”

Section: Panic Buying: Food and Other Products Stock During The Pandemicmentioning

confidence: 99%

“…Other epidemics were experienced in the past, and many restrictions that brought difficulties were imposed previously, such as restrictions on trade, movement of people and goods, limitations on exports, and interruptions in production (HASSAN et al, 2020;KAUR;MALIK, 2020). Public health organizations and experts in the field warned, in 2017, that the emergence of a new pandemic would be close and that no nation would be fully prepared to face it.…”

Section: Introductionmentioning

confidence: 99%

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The Covid-19 Pandemic and the Changes in Consumer Habits and Behavior

Eberle

Bausch

Milan

et al. 2021

RGD

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In a short time, the COVID-19 pandemic transformed people’s behavior, undermining firms and businesses and changing the global economy. In this context, the study aimed to understand the impacts the COVID-19 pandemic caused on consumer behavior. The research method adopted was the literature review, investigating the Scopus and Web of Science databases, two of the main scientific databases. A total of 205 articles published in 2020 were identified, and, based on the proposed criteria, 30 studies showed high adherence to the topic and contributed to the understanding of changes in consumer habits and behavior. The main themes identified were: e-commerce growth, panic buying, repressed demand and stricken sectors, do-it-yourself, increased apps usage, machine learning methods, data internet security, and online marketing and shopping platforms.

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“…Previous COVID-19 research suggests pandemic panic buying is driven by the economic factor in COVID-19 phobia including worries about shortages ( Kaur and Malik, 2020 ) and fears of associated price increases ( Arafat et al, 2020c ). First, people may amass excessive amounts of supplies to avoid feeling unprepared.…”

Section: Introductionmentioning

confidence: 99%

Let Others Buy First: Identity Fusion Buffers the Effect of COVID-19 Phobia on Panic Buying Behavior From an Economic Perspective

et al. 2021

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The coronavirus 2019 (COVID-19) pandemic has caused hundreds of millions of cases and millions of deaths, resulting in the development of COVID-19 phobia. To prevent getting COVID-19, Centers for Disease Control and Prevention (CDC) in many countries encourage people to protect themselves via several strategies, such as wearing face masks or using sanitizers when washing hands. However, at times, such supplies for preventing COVID-19 are limited. In this study, we examine the relationship between COVID-19 phobia and panic buying behavior from an economic perspective and test if identity fusion plays a buffering role for this phenomenon. Data was collected from September 4th to November 1st in 2020 across three countries (the United States, Germany, and Taiwan). A self-report measure of panic buying behavior was developed and culturally cross-validated. Moderation analyses were conducted focusing on the study objectives. Results show that the economic factor in COVID-19 phobia predicts panic buying behavior, and this effect is buffered by identity fusion. It is worthy to note that this buffering effect emerged only in the Taiwanese sample, not in the American or German samples. Implications of identity fusion theory in human behavior are discussed.

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Understanding the Psychology Behind Panic Buying: A Grounded Theory Approach

Cited by 57 publications

References 30 publications

Perceived Impact of Social Media on Panic Buying: An Online Cross-Sectional Survey in Iraqi Kurdistan

Perceived Impact of Social Media on Panic Buying: An Online Cross-Sectional Survey in Iraqi Kurdistan

The Covid-19 Pandemic and the Changes in Consumer Habits and Behavior

Let Others Buy First: Identity Fusion Buffers the Effect of COVID-19 Phobia on Panic Buying Behavior From an Economic Perspective

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