Prioritizing Factors of Panic Buying Behaviour: A Neutrosophic Analytical Approach

Abstract

In a crisis, panic buying (PB) has negative ramifications for manufacturers, suppliers, retailers, consumers and the overall economy. There is a plethora of research in extant literature identifying the factors causing PB, but none has prioritized them so that firms can devise focused strategies to tackle the situation of PB. In this research, through extant literature and experts’ opinion, 18 PB factors (PBFs) are identified. The neutrosophic analytical hierarchy process is used for prioritizing the factors based on single-valued triangular neutrosophic numbers. From the 18 PBFs, on the basis of ranking received from results, top 50% most influencing factors are social media, fear of missing out, peer influence, social learning, product importance, cultural values, rumours, sense of security and government regulations. Thereafter, in close conjunction with these factors, most significant interventions/measures to curb PB are presented in the form of a PB prevention and control framework. The knowledge of the top influencing factors of PB is vital for policymakers, administrators, marketers, retailers and consumers so that they can devise appropriate interventions when required.