Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret

Panic buying behaviour is inherently undesirable due to its detrimental impact on the community’s resources and disruptions to supply chain systems. The prevailing Covid-19 pandemic has seen a resurgence of this phenomenon across the world, leaving supermarkets in stockout situations. While panic bu...

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Main Author: Tan, Lydia Sonia
Other Authors: Yuen Kum Fai
Format: Final Year Project
Language:English
Published: Nanyang Technological University 2021
Subjects:
Online Access:https://hdl.handle.net/10356/150160
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spelling sg-ntu-dr.10356-1501602021-06-06T09:21:59Z Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret Tan, Lydia Sonia Yuen Kum Fai School of Civil and Environmental Engineering kumfai.yuen@ntu.edu.sg Social sciences::Psychology::Behaviorism Engineering::Maritime studies Panic buying behaviour is inherently undesirable due to its detrimental impact on the community’s resources and disruptions to supply chain systems. The prevailing Covid-19 pandemic has seen a resurgence of this phenomenon across the world, leaving supermarkets in stockout situations. While panic buying is largely reasoned as a psychological reaction to an extreme event, it is also a socially relevant behaviour, as our perception of a crisis can be shaped by our observations and interactions within society. The social determinants of panic buying behaviour, particularly on how these factors heighten one’s perception of scarcity, and trigger panic buying behaviour, are studied. A theoretical model is developed to explain panic buying behaviour in a social context by synthesising various social and behavioural theories, and the inter-relationship among the latent constructs is analysed using the structural equation modelling approach. Accordingly, an online survey was administered and analysis of the data confirmed that non-coercive social influence, social norm, and observational learning directly influence one’s perception of scarcity. Additionally, perceived scarcity can motivate panic buying behaviour directly or indirectly through feelings of anticipated regret. This study has contributed to the limited literature on panic buying. Understanding the underlying mechanisms of panic buying will aid policymakers and businesses in developing intervention or support strategies to cope with such behaviour. Bachelor of Science (Maritime Studies) 2021-06-05T03:54:38Z 2021-06-05T03:54:38Z 2021 Final Year Project (FYP) Tan, L. S. (2021). Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/150160 https://hdl.handle.net/10356/150160 en application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Social sciences::Psychology::Behaviorism
Engineering::Maritime studies
spellingShingle Social sciences::Psychology::Behaviorism
Engineering::Maritime studies
Tan, Lydia Sonia
Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
description Panic buying behaviour is inherently undesirable due to its detrimental impact on the community’s resources and disruptions to supply chain systems. The prevailing Covid-19 pandemic has seen a resurgence of this phenomenon across the world, leaving supermarkets in stockout situations. While panic buying is largely reasoned as a psychological reaction to an extreme event, it is also a socially relevant behaviour, as our perception of a crisis can be shaped by our observations and interactions within society. The social determinants of panic buying behaviour, particularly on how these factors heighten one’s perception of scarcity, and trigger panic buying behaviour, are studied. A theoretical model is developed to explain panic buying behaviour in a social context by synthesising various social and behavioural theories, and the inter-relationship among the latent constructs is analysed using the structural equation modelling approach. Accordingly, an online survey was administered and analysis of the data confirmed that non-coercive social influence, social norm, and observational learning directly influence one’s perception of scarcity. Additionally, perceived scarcity can motivate panic buying behaviour directly or indirectly through feelings of anticipated regret. This study has contributed to the limited literature on panic buying. Understanding the underlying mechanisms of panic buying will aid policymakers and businesses in developing intervention or support strategies to cope with such behaviour.
author2 Yuen Kum Fai
author_facet Yuen Kum Fai
Tan, Lydia Sonia
format Final Year Project
author Tan, Lydia Sonia
author_sort Tan, Lydia Sonia
title Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
title_short Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
title_full Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
title_fullStr Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
title_full_unstemmed Social determinants of panic buying behaviour amidst Covid-19 pandemic : the role of perceived scarcity and anticipated regret
title_sort social determinants of panic buying behaviour amidst covid-19 pandemic : the role of perceived scarcity and anticipated regret
publisher Nanyang Technological University
publishDate 2021
url https://hdl.handle.net/10356/150160
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