Causes of panic buying and food hoarding during COVID-19

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Panic buying can have a negative impact on individuals, businesses, and society to varying degrees. Therefore, it is necessary to understand the causes so that the relevant subjects can take response measures during this significant time. However, there is little research on the causes of this epidemic outbreak, so it is worth exploring. This chapter examined the different factors that influence panic buying and hoarding of food during the COVID- 19 epidemic in China. The study tested the model of the theory of planned behavior to evaluate independent variables such as perceived quality, perceived scarcity, perceived threat, savings, and price sensitivity that will influence behavioral intention to hoarding or intention to panic buying. Regression analysis was used as the statistical tool to measure the relationships among variables. This chapter provides some insights for enterprises and governments to alleviate some of the adverse effects of panic buying during China's COVID-19 epidemic.

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New Normal and New Rules in International Trade, Economics and Marketing

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