Understanding Consumer Stockpiling during the COVID-19 Outbreak through the Theory of Planned Behavior

Maria-Magdalena Roșu, Rodica Ianole-Călin, Raluca Dinescu, Anca Bratu, Răzvan-Mihail Papuc and Anastasia Cosma
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Maria-Magdalena Roșu: Faculty of Cybernetics, Statistics and Economic Informatics, Bucharest University of Economic Studies, 010371 Bucharest, Romania
Rodica Ianole-Călin: Faculty of Business and Administration, University of Bucharest, 030018 Bucharest, Romania
Raluca Dinescu: Faculty of Business and Administration, University of Bucharest, 030018 Bucharest, Romania
Anca Bratu: Faculty of Business and Administration, University of Bucharest, 030018 Bucharest, Romania
Răzvan-Mihail Papuc: Faculty of Business and Administration, University of Bucharest, 030018 Bucharest, Romania
Anastasia Cosma: Faculty of Business and Administration, University of Bucharest, 030018 Bucharest, Romania

Mathematics, 2021, vol. 9, issue 16, 1-15

Abstract: We use the theory of planned behavior (TPB) to investigate determinants of stockpiling behavior during the COVID-19 lockdown. We analyzed 518 responses to an online survey and used Partial Least Squares Path Modeling (PLS-PM) techniques to estimate relationships between variables. Negative attitude (perceived barriers) and others’ behavior (descriptive social norms) were revealed as significant predictors for both intention to over-purchase and the actual stockpiling behavior. The lack of significance obtained for perceived behavioral control (PBC) is also an important result, strengthening the evidence that factors’ contribution to TPB’s predictive power is strongly context-dependent, respectively that PBC is less relevant in settings dominated by uncertainty. The lack of significance is especially compelling when stockpiling behavior is regarded as deviant conduct from effective consumption. Our findings expand the understanding on the applicability of TPB and offer informed practical suggestions for improving managerial strategies, public and private ones, during extreme events when self-regulation and cognitive control are expedient but hard to achieve.

Keywords: theory of planned behavior; stockpiling behavior; panic buying; self-regulation; perceived product scarcity; COVID-19; lockdown (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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