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Cited by 514COVID-19 Pandemic ImpactsCOVID-19 and Mental HealthConsumer Retail Behavior Studies

The Psychological Causes of Panic Buying Following a Health Crisis

Open access
Yuen, Kum Fai, Wang, Xueqin, Ma, Fei, Li, Kevin X.·2020·International Journal of Environmental Research and Public Health
DOI 10.3390/ijerph17103513PMC PMC7277661
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Abstract

Attributed to the recent COVID-19 pandemic, panic buying is now a frequent occurrence in many countries, leading to stockouts and supply chain disruptions. Consequently, it has received much attention from academics and the retail industry. The aim of this study is to review, identify, and synthesise the psychological causes of panic buying, which is a relatively new and unexplored area in consumer behaviour research. A systematic review of the related literature is conducted. The review suggests that panic buying is influenced by (1) individuals’ perception of the threat of the health crisis and scarcity of products; (2) fear of the unknown, which is caused by negative emotions and uncertainty; (3) coping behaviour, which views panic buying as a venue to relieve anxiety and regain control over the crisis; and (4) social psychological factors, which account for the influence of the social network of an individual. This study contributes to the literature by consolidating the scarce and scattered research on the causes of panic buying, drawing greater theoretical insights into each cause and also offers some implications for health professionals, policy makers, and retailers on implementing appropriate policies and strategies to manage panic buying. Recommendations for future research are also provided.

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Crossref · 10.3390/ijerph17103513

Cites

35 of 35 references verified0 citation errors · 0 not checkable

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  • Perceived scarcity seems to be most uniquely associated with panic buying, especially when compared to other constructs such as selfishness or intolerance of uncertainty.

    “our results suggest that perceived scarcity seems to be most uniquely associated with panic buying, especially when compared to other con­ structs such as selfishness or intolerance of uncertainty.”

    From Why did all the toilet paper disappear? Distinguishing between panic buying and hoarding during COVID-19 (2021) · cites this paper as Yuen et al., 2020

    Section 3.1 (page not provided) says perceived scarcity can motivate panic buying. Section 3 discusses several other causes, but does not establish that scarcity has a stronger unique association than selfishness or intolerance of uncertainty. The citing sentence describes that comparison as its authors’ own result, not a finding of this review. (LLM, conf=0.86)

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  • Previous research suggests that panic buying is an acute response which subsides after a disaster.

    “Therefore, our findings are consistent with previous research which suggests that panic buying is an acute response which subsides after a disaster (Yuen et al., 2020), while hoarding tends to be a chronic problem (Tolin et al., 2010).”

    From Why did all the toilet paper disappear? Distinguishing between panic buying and hoarding during COVID-19 (2021) · cites this paper as Yuen et al., 2020

    The Introduction describes panic buying as a response to disasters and calls the associated demand a “sporadic surge,” supporting its characterization as an acute response. It does not say that panic buying subsides after a disaster; the paper's definition expressly allows it to occur after one. (LLM, conf=0.83)

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  • The degree to which an individual perceives the threat or scarcity of a product is an important determinant of panic buying behaviour.

    “The degree to which an individual perceives the threat or scarcity of a product is an important determinant of panic buying behaviour (Yuen et al., 2020).”

    From Why did all the toilet paper disappear? Distinguishing between panic buying and hoarding during COVID-19 (2021) · cites this paper as Yuen et al., 2020

  • The degree to which an individual feels they can manage a threat may influence panic buying behaviour.

    “the degree to which an individual feels they can manage the threat may also influence panic buying behaviour (Arafat et al., 2020; Yuen et al., 2020).”

    From Why did all the toilet paper disappear? Distinguishing between panic buying and hoarding during COVID-19 (2021) · cites this paper as Yuen et al., 2020

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Cites

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Research works printed but not linked: 5

  1. [1]Leach J. Survival Psychology Springer Berlin/Heidelberg, Germany 1994
  2. [3]Steven D. O’Brien E. Jones B.D. New Politics Strategic Resources: Energy and Food Security Challenges in the 21st Century Brookings Institution Press Washington, DC, USA 2014
  3. [21]Sterman J.D. Dogan G. “I’m not hoarding, I’m just stocking up before the hoarders get here.” Behavioral causes of phantom ordering in supply chains J. Oper. Manag. 2015 39 6 22 10.1016/j.jom.2015.07.002 · DOI
  4. [22]Pan X. Dresner M.E. Mantin B. Zhang J. Pre-hurricane consumer stockpiling and post-hurricane product availability: Empirical evidence from natural experiments SSRN 2020 Available online: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3309457 (accessed on 17 May 2020)
  5. [25]Taylor S. The Psychology of Pandemics: Preparing for the Next Global Outbreak of Infectious Disease Cambridge Scholars Publishing Newcastle upon Tyne, UK 2019

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Authors
Yuen, K. F., Wang, X., Ma, F., & Li, K. X.
Affiliations
  • Nanyang Technological University (SG)
  • Chang'an University (CN)
  • Zhejiang University (CN)
Corresponding author
Wang, Xueqin
ORCID
Venue
International Journal of Environmental Research and Public Health
Publisher
MDPI AG
Published
2020-05-18
Volume
17
Issue
10
Pages
3513
ISSN
1660-4601 (ISSN-L)
DOI
10.3390/ijerph17103513
PMC
PMC7277661
OpenAlex
W3024934549
Cited by
514
References
35
Citations by year
2026: 29 · 2025: 28 · 2024: 59 · 2023: 91 · 2022: 140 · 2021: 127 · 2020: 39
FWCI
16.16
Type
journal article
Language
en
Open access
Licence
Locations
  • International Journal of Environmental Research and Public Health (publishedVersion, cc-by)
  • PubMed Central (publishedVersion, cc-by)
  • PubMed (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
  • DR-NTU (Nanyang Technological University) (submittedVersion, cc-by)
Funders
Nanyang Technological University
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › COVID-19 Pandemic Impacts
  • Social Sciences › Psychology › Clinical Psychology › COVID-19 and Mental Health
  • Social Sciences › Business, Management and Accounting › Marketing › Consumer Retail Behavior Studies
Keywords
panic buying, COVID-19 pandemic, consumer behavior, psychological causes, threat perception, fear of the unknown, uncertainty, coping behaviour, anxiety, social influence, social networks, stockouts, supply chain disruption, retail policy
MeSH terms
Betacoronavirus, COVID-19, SARS-CoV-2, Adaptation, Psychological, Anxiety, Consumer Behavior, Fear, Humans, Panic, Pneumonia, Viral, Coronavirus Infections, Uncertainty, Pandemics

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