Panic Buying Behavior Analysis according to Consumer Income and Product Type during COVID-19

Irineu de Brito Junior (), Hugo Tsugunobu Yoshida Yoshizaki, Flaviane Azevedo Saraiva, Nathan de Campos Bruno, Roberto Fray da Silva, Celso Mitsuo Hino, Larissa Limongi Aguiar and Isabella Marrey Ferreira de Ataide
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Irineu de Brito Junior: Environmental Engineering Department, São Paulo State University, São José dos Campos 12247-004, Brazil
Hugo Tsugunobu Yoshida Yoshizaki: Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil
Flaviane Azevedo Saraiva: Department of Production Engineering, University of São Paulo, São Paulo 05508-010, Brazil
Nathan de Campos Bruno: Environmental Engineering Department, São Paulo State University, São José dos Campos 12247-004, Brazil
Roberto Fray da Silva: Institute of Advanced Studies, University of São Paulo, São Paulo 05508-050, Brazil
Celso Mitsuo Hino: Department of Production Engineering, University of São Paulo, São Paulo 05508-010, Brazil
Larissa Limongi Aguiar: Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil
Isabella Marrey Ferreira de Ataide: Graduate Program in Logistics Systems Engineering, University of São Paulo, São Paulo 05508-010, Brazil

Sustainability, 2023, vol. 15, issue 2, 1-17

Abstract: In 2020, just before measures were established by governments to minimize the spread of SARS-CoV-2, such as social distancing, quarantine, lockdowns, and internal movement restrictions, people began to buy some products in quantities much superior to their regular needs. This behavior is called panic buying and is a typical human response in times of crisis and uncertainty. This study compares retail sale levels during the period in which panic purchases occurred to the sales levels before and after that period. We analyzed the sales of five groups of products from 144 stores of two major retailers in São Paulo, Brazil. Several regression models were used to evaluate the data obtained from demographic information, actual sales, per capita income, and product sales transactions. The results show that sales before, during, and after the panic buying period varied according to the product type and increased according to the average per capita income of each store’s influence area. These results may assist policymakers in introducing public policies and managing resources during a crisis that requires social distancing and lockdowns.

Keywords: panic buying; per capita income; consumer behavior; vulnerability; COVID-19 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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