Factors that Influence the Mechanism of Panic Buying: The Moderating Role of Personal Cognition

Abstract

Purpose: The main aim of this research is to analyse the factors that contribute to panic buying behaviour and to give recommendations on government control tactics that might be used in similar situations. Theoretical framework: Scarcity is the theoretical basis of current research in the context of COVID-19 in Quanzhou, Fujian Province, China. Collect and review previous relevant studies by theme to understand the latest literature trends of scarcity, anxiety and panic buying. Method: This research takes 213 clients from Quanzhou City in Fujian Province, China. Using SPSS 27 for regression analysis and PROCESS 3.4.1 for testing the moderating effect and to investigate the status of panic buying. Findings: The problem of panic buying during public crisis circumstances, such as the COVID-19, was explored and solved in this study, it was discovered that: (1) group factors and anxiety have a significant positive impact on panic buying; (2) scarcity and government control have no significant impact on panic buying; and (3) there is no significant moderating effect of personal cognition between the two. Research, practical & social implications: Research has found that scarcity has a significant positive correlation with panic buying and anxiety; Scarcity has a significant impact on panic buying through the mediating effect of individual anxiety. Personal cognition has a significant moderating effect on scarcity on panic buying and anxiety on panic buying. Originality: The research problem addressed in this study is the phenomenon of panic buying during public crisis events such as the COVID-19 pandemic. this study proposes ideas for guiding government control in public crisis events.