Panic buying in the COVID-19 pandemic: A multi-country examination

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 and Limited Time Scarcity affect the emotional arousal among people, which in turn influences consumers’ impulsive and obsessive buying behaviors

Tahir Islam; Abdul Hameed Pitafi; Vikas Arya; Ying Wang; Naeem Akhtar; Shujaat Mubarik; Liang Xiaobei

2020

Scholarcy highlights

  • Excessive social media use is moderated the relationships between limited quantity & time scarcity and perceived arousal
  • As lockdowns being implemented in many places, panic buying has emerged as a reliable feature of the Coronavirus outbreak
  • 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
  • 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 and Limited Time Scarcity affect the emotional arousal among people, which in turn influences consumers’ impulsive and obsessive buying behaviors
  • Our findings show that LQS and LTS significantly increase perceived arousal in consumers, which further leads to more impulsive and obsessive buying
  • Theoretical and managerial implications are discussed in details

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