IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i2p1228-d1029882.html
   My bibliography  Save this article

Panic Buying Behavior Analysis according to Consumer Income and Product Type during COVID-19

Author

Listed:
  • Irineu de Brito Junior

    (Environmental Engineering Department, São Paulo State University, São José dos Campos 12247-004, Brazil
    Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

  • Hugo Tsugunobu Yoshida Yoshizaki

    (Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil
    Department of Production Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

  • Flaviane Azevedo Saraiva

    (Department of Production Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

  • Nathan de Campos Bruno

    (Environmental Engineering Department, São Paulo State University, São José dos Campos 12247-004, Brazil)

  • Roberto Fray da Silva

    (Institute of Advanced Studies, University of São Paulo, São Paulo 05508-050, Brazil)

  • Celso Mitsuo Hino

    (Department of Production Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

  • Larissa Limongi Aguiar

    (Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

  • Isabella Marrey Ferreira de Ataide

    (Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil)

Abstract

In 2020, just before measures were established by governments to minimize the spread of SARS-CoV-2, such as social distancing, quarantine, lockdowns, and internal movement restrictions, people began to buy some products in quantities much superior to their regular needs. This behavior is called panic buying and is a typical human response in times of crisis and uncertainty. This study compares retail sale levels during the period in which panic purchases occurred to the sales levels before and after that period. We analyzed the sales of five groups of products from 144 stores of two major retailers in São Paulo, Brazil. Several regression models were used to evaluate the data obtained from demographic information, actual sales, per capita income, and product sales transactions. The results show that sales before, during, and after the panic buying period varied according to the product type and increased according to the average per capita income of each store’s influence area. These results may assist policymakers in introducing public policies and managing resources during a crisis that requires social distancing and lockdowns.

Suggested Citation

  • Irineu de Brito Junior & Hugo Tsugunobu Yoshida Yoshizaki & Flaviane Azevedo Saraiva & Nathan de Campos Bruno & Roberto Fray da Silva & Celso Mitsuo Hino & Larissa Limongi Aguiar & Isabella Marrey Fer, 2023. "Panic Buying Behavior Analysis according to Consumer Income and Product Type during COVID-19," Sustainability, MDPI, vol. 15(2), pages 1-17, January.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:2:p:1228-:d:1029882
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/2/1228/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/2/1228/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Keane, Michael & Neal, Timothy, 2021. "Consumer panic in the COVID-19 pandemic," Journal of Econometrics, Elsevier, vol. 220(1), pages 86-105.
    2. Viktória Ali Taha & Tonino Pencarelli & Veronika Škerháková & Richard Fedorko & Martina Košíková, 2021. "The Use of Social Media and Its Impact on Shopping Behavior of Slovak and Italian Consumers during COVID-19 Pandemic," Sustainability, MDPI, vol. 13(4), pages 1-19, February.
    3. Hugo T. Y. Yoshizaki & Irineu de Brito Junior & Celso Mitsuo Hino & Larrisa Limongi Aguiar & Maria Clara Rodrigues Pinheiro, 2020. "Relationship between Panic Buying and Per Capita Income during COVID-19," Sustainability, MDPI, vol. 12(23), pages 1-14, November.
    4. Prentice, Catherine & Chen, Jinyan & Stantic, Bela, 2020. "Timed intervention in COVID-19 and panic buying," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    5. Grace Chua & Kum Fai Yuen & Xueqin Wang & Yiik Diew Wong, 2021. "The Determinants of Panic Buying during COVID-19," IJERPH, MDPI, vol. 18(6), pages 1-28, March.
    6. Erpeng Wang & Ning An & Zhifeng Gao & Emmanuel Kiprop & Xianhui Geng, 2020. "Consumer food stockpiling behavior and willingness to pay for food reserves in COVID-19," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 12(4), pages 739-747, August.
    7. Jianjia He & Shengmin Liu & Tingting Li & Thi Hoai Thuong Mai, 2021. "The Positive Effects of Unneeded Consumption Behaviour on Consumers during the COVID-19 Pandemic," IJERPH, MDPI, vol. 18(12), pages 1-17, June.
    8. Rithika Dulam & Kazuo Furuta & Taro Kanno, 2021. "Consumer Panic Buying: Realizing Its Consequences and Repercussions on the Supply Chain," Sustainability, MDPI, vol. 13(8), pages 1-24, April.
    9. Kum Fai Yuen & Xueqin Wang & Fei Ma & Kevin X. Li, 2020. "The Psychological Causes of Panic Buying Following a Health Crisis," IJERPH, MDPI, vol. 17(10), pages 1-14, May.
    10. Janni Leung & Jack Yiu Chak Chung & Calvert Tisdale & Vivian Chiu & Carmen C. W. Lim & Gary Chan, 2021. "Anxiety and Panic Buying Behaviour during COVID-19 Pandemic—A Qualitative Analysis of Toilet Paper Hoarding Contents on Twitter," IJERPH, MDPI, vol. 18(3), pages 1-16, January.
    11. Naeem, Muhammad, 2021. "Do social media platforms develop consumer panic buying during the fear of Covid-19 pandemic," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xunqing Wang & Nan Zhang & Hang Zhou & Xinpeng Huang & Rundong Luo, 2023. "Multi-Agent Evolutionary Game Analysis of Group Panic Buying in China during the COVID-19 Pandemic," Mathematics, MDPI, vol. 11(13), pages 1-24, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Guohua He & Zirun Hu, 2022. "A Model of Panic Buying and Workforce under COVID-19," IJERPH, MDPI, vol. 19(24), pages 1-14, December.
    2. Chen, Tinggui & Jin, Yumei & Yang, Jianjun & Cong, Guodong, 2022. "Identifying emergence process of group panic buying behavior under the COVID-19 pandemic," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    3. Tarek Ben Hassen & Hamid El Bilali & Mohammad S. Allahyari & Sinisa Berjan & Darjan Karabašević & Adriana Radosavac & Goran Dašić & Ružica Đervida, 2021. "Preparing for the Worst? Household Food Stockpiling during the Second Wave of COVID-19 in Serbia," Sustainability, MDPI, vol. 13(20), pages 1-19, October.
    4. Ali, Maged & Gomes, Lucas Moreira & Azab, Nahed & de Moraes Souza, João Gabriel & Sorour, M. Karim & Kimura, Herbert, 2023. "Panic buying and fake news in urban vs. rural England: A case study of twitter during COVID-19," Technological Forecasting and Social Change, Elsevier, vol. 193(C).
    5. Katarina Valaskova & Pavol Durana & Peter Adamko, 2021. "Changes in Consumers’ Purchase Patterns as a Consequence of the COVID-19 Pandemic," Mathematics, MDPI, vol. 9(15), pages 1-17, July.
    6. Perera K.J.T. & Fernando P.I.N. & Ratnayake R.M.C.S. & Udawaththa U.D.I.C., 2021. "Consumer Behavior within the Covid-19 Pandemic A Systematic Review," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(12), pages 806-812, December.
    7. Marko Šostar & Vladimir Ristanović, 2023. "An Assessment of the Impact of the COVID-19 Pandemic on Consumer Behavior Using the Analytic Hierarchy Process Model," Sustainability, MDPI, vol. 15(20), pages 1-31, October.
    8. Cruz-Cárdenas, Jorge & Zabelina, Ekaterina & Guadalupe-Lanas, Jorge & Palacio-Fierro, Andrés & Ramos-Galarza, Carlos, 2021. "COVID-19, consumer behavior, technology, and society: A literature review and bibliometric analysis," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    9. Shan, Haiyan & Pi, Wenjie, 2023. "Mitigating panic buying behavior in the epidemic: An evolutionary game perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    10. Ashutosh Sarkar & Debadyuti Das & Arindam Debroy, 2024. "Panic Buying, Product Substitution and Channel-Shifting Behaviour During Pandemic," IIM Kozhikode Society & Management Review, , vol. 13(1), pages 25-43, January.
    11. Ahmadi, Iman & Habel, Johannes & Jia, Miaolei & Wei, Sarah, 2022. "Consumer stockpiling under the impact of a global disaster: The evolution of affective and cognitive motives," Journal of Business Research, Elsevier, vol. 142(C), pages 56-71.
    12. Fazel Hesham & Harizi Riadh & Nasr Khouadja Sihem, 2021. "What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior?," Sustainability, MDPI, vol. 13(8), pages 1-23, April.
    13. Jiang, Yi & Wang, Xueqin & Yuen, Kum Fai, 2021. "Augmented reality shopping application usage: The influence of attitude, value, and characteristics of innovation," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    14. Untaru, Elena-Nicoleta & Han, Heesup, 2021. "Protective measures against COVID-19 and the business strategies of the retail enterprises: Differences in gender, age, education, and income among shoppers," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    15. Zaid Obeidat & Mohammad Ibrahim Obeidat, 2023. "A typology of Jordanian consumers after Covid‐19: The rational, the suspicious, and the cautious consumer," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 121-139, January.
    16. Liu, Yanfeng & Cai, Lanhui & Ma, Fei & Wang, Xueqin, 2023. "Revenge buying after the lockdown: Based on the SOR framework and TPB model," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    17. Szwajca Danuta, 2022. "The Use of Digital Communication Channels by Polish Consumers – Changes Caused by the Pandemic," Foundations of Management, Sciendo, vol. 14(1), pages 37-50, January.
    18. Guthrie, Cameron & Fosso-Wamba, Samuel & Arnaud, Jean Brice, 2021. "Online consumer resilience during a pandemic: An exploratory study of e-commerce behavior before, during and after a COVID-19 lockdown," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).
    19. Park, Inyoung & Lee, Jieon & Lee, Daeho & Lee, Changjun & Chung, Won Young, 2022. "Changes in consumption patterns during the COVID-19 pandemic: Analyzing the revenge spending motivations of different emotional groups," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).
    20. Mohammad Alamgir Hossain & Md. Maruf Hossan Chowdhury & Ilias O. Pappas & Bhimaraya Metri & Laurie Hughes & Yogesh K. Dwivedi, 2023. "Fake news on Facebook and their impact on supply chain disruption during COVID-19," Annals of Operations Research, Springer, vol. 327(2), pages 683-711, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:2:p:1228-:d:1029882. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.