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Published VersionCC BY V4.0, Open Access
Journal article
Is it time to stock up? Understanding panic buying during the COVID-19 pandemic
Australian Journal of Psychology, Vol.75(1), pp.1-15
2023
Appears in COVID-19 Research
Abstract
Background: Lockdowns to reduce the spread of COVID19 have triggered sharp increases in consumer purchasing behaviour, labelled panic buying. Panic buying has detrimental consequences as it leads to product shortages and disrupts supply chains, forcing retailers to adopt quotas to manage demand. Developing an understanding of the psychological correlates of panic buying can provide targets for public messaging aimed at curbing the behaviour. Objective: The study aimed to identify the psychological, individual difference, and demographic factors associated with increased purchasing of non perishable, cleaning, and hygiene products during COVID19 lockdowns in Australia. Methods: The study used a cross sectional design (N = 790) with online survey measures administered to community members in Australia during April and May 2020. Data were analysed using structural equation modelling. Results: Structural equation models revealed that 1) attitudes, subjective norms, and risk perceptions predicted increased purchasing of non perishable products; 2) attitudes, risk perceptions, social anxiety sensitivity, and the non impulsivity facet of trait self control predicted increased purchasing of hygiene products; and 3) attitudes and risk perceptions predicted increased purchasing of cleaning products. Conclusion: Findings provide an understanding of the factors that were associated with panic buying during COVID19 lockdowns in Australia. Future studies should investigate whether messages designed to influence risk perceptions, attitudes, and subjective norms are effective in curbing the behaviour.
Details
- Title
- Is it time to stock up? Understanding panic buying during the COVID-19 pandemic
- Authors
- Karina T. Rune (Author) - University of the Sunshine Coast, Queensland, School of Health - PsychologyJacob J. Keech (Corresponding Author) - University of the Sunshine Coast, Queensland, School of Health - Psychology
- Publication details
- Australian Journal of Psychology, Vol.75(1), pp.1-15
- Publisher
- Taylor & Francis
- Date published
- 2023
- DOI
- 10.1080/00049530.2023.2180299
- ISSN
- 1742-9536; 0004-9530
- Copyright note
- © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
- Organisation Unit
- University of the Sunshine Coast, Queensland; Cancer Research Cluster; School of Health - Psychology
- Language
- English
- Record Identifier
- 99717698902621
- Output Type
- Journal article
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- Domestic collaboration
- Web Of Science research areas
- Psychology, Multidisciplinary
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