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Understanding consumer buying behaviour in times of panic : development of a relationship framework of influencing factors
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Wang, Yufei, El-Said, Ahmed, Ahtamad, Mujthaba and Ozden, Mucahit (2023) Understanding consumer buying behaviour in times of panic : development of a relationship framework of influencing factors. In: 28th Annual Logistics Research Network Conference 2023, Edinburgh, Scotland, 6-8 Sep 2023. Published in: Full papers of the Logistics Research Network Conference 2023
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WRAP-Understanding-consumer-buying-behaviour-times-panic-23.pdf - Accepted Version - Requires a PDF viewer. Download (463Kb) | Preview |
Official URL: https://lrnconference2023.vfairs.com/en/#agenda
Abstract
Purpose
With multiple global events causing major supply chain disruptions and turbulence, the availability and ease of access to certain products and services has been greatly affected. This in turn is seen to have a direct impact on the perceived scarcity of these products and services, which can result in an emotional buying decision. Accordingly, this research investigates changes regarding consumer buying behaviour in times of panic. The study aims to identify the main factors affecting panic buying decisions and develop a conceptual framework that models the relationship between the factors.
Research Approach/Methodology
A critical review of relevant literature is conducted that investigates the causal factors that influence consumer buying behaviour and patterns in times of crisis. The review focused on consumer buying behaviour literature that considered changes to demand patterns caused by perceived scarcity and/or emotion during times with evident supply chain disruption. Special focus was given to articles that covered or referred to the Covid-19 pandemic.
Findings and Originality
The study identified four main factors, namely: governmental policies, commercial policies, social influence, and social norm, that have a direct impact on emotions and perceived scarcity. The study defines each of these factors and analyses the strength of each of these factors as a causal influence on the consumers’ buying decision. A conceptual model is developed that integrates all four factors linked to perceived scarcity and emotions to panic buying.
Research Impact
The research builds on consumer buying behaviour literature and gives special focus to panic buying. A conceptual framework is presented that identified and developed a relationship between the main factors affecting consumer buying behaviour in times of panic. The model defines a cause-and-effect relationship that offers a better understanding of changes in demand patterns in times of supply chain disruption and turbulence.
Practical Impact
The conceptual model can be used by relevant departments in public and/or private sectors to better understand the effect of their policies on consumer buying behaviour. In turn this can assist in the development of fit for purpose policies that would mitigate potential negative effects of panic buying.
Key Words
Consumer behaviour, Panic buying, SC disruption, Perceived scarcity, Covid-19, Risk mitigation
Item Type: | Conference Item (Paper) | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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Divisions: | Faculty of Science, Engineering and Medicine > Science > Computer Science Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) |
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Library of Congress Subject Headings (LCSH): | Consumer behavior -- Psychological aspects, Panic, COVID-19 Pandemic, 2020- -- Social aspects, Collective behavior, COVID-19 Pandemic, 2020- -- Psychological aspects, Anxiety, Business logistics, Risk management | ||||
Journal or Publication Title: | Full papers of the Logistics Research Network Conference 2023 | ||||
Publisher: | Chartered Institute of Logistics and Transport | ||||
Official Date: | 20 April 2023 | ||||
Dates: |
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Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Copyright Holders: | © Logistics Research Network Published by The Chartered Institute of Logistics and Transport | ||||
Date of first compliant deposit: | 25 October 2023 | ||||
Date of first compliant Open Access: | 25 October 2023 | ||||
Conference Paper Type: | Paper | ||||
Title of Event: | 28th Annual Logistics Research Network Conference 2023 | ||||
Type of Event: | Conference | ||||
Location of Event: | Edinburgh, Scotland | ||||
Date(s) of Event: | 6-8 Sep 2023 | ||||
Related URLs: |
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