The Impact of COVID-19 on Consumer Behavior. The Role of Lack of Control and Risk Perception on Stockpiling

Dominika Maison, Dominika Adamczyk, Anna Wnuk and Tomasz Oleksy
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Dominika Maison: Faculty of Psychology, University of Warsaw, Poland
Dominika Adamczyk: Faculty of Psychology, University of Warsaw, Poland
Anna Wnuk: The Robert Zajonc Institute for Social Studies, University of Warsaw, Poland
Tomasz Oleksy: Faculty of Psychology, University of Warsaw, Poland

Problemy Zarzadzania, 2022, vol. 20, issue 97, 4-26

Abstract: Purpose: The coronavirus pandemic has suddenly changed the lives of people all over the world, both in terms of their health, everyday habits, work, and the patterns of their consumer behavior. The goal of our study was first to examine the intensity of stockpiling in Poland that appeared in response to the onset of the COVID-19 pandemic and explore the role of psychological factors (sense of control over the pandemic and subjective perception of the risk of getting infected with the coronavirus) for different dimensions of stockpiling. Design/methodology/approach: The study was conducted in April 2020 on a nationwide representative random-quota sample (n=1,046) shortly after the first COVID-19 infection was diagnosed in Poland. At the time, certain changes in shopping behavior, especially increased purchase frequencies and stockpiling intensity, were observed in Poland, similarly to many other countries. Findings: The results showed that the factors affecting consumer behavior, such as making supplies or spending more on pandemic-related and unrelated items, are explained not only by demographic variables but also by psychological factors such as the experience of a lack of control and fear of being infected with the coronavirus. Research limitations/implications: The study has managerial implications regarding sales and logistics management. In an emergency situation (not only directly related to the economic crisis and consumption), both producers of basic products and retailers should be prepared for increased interest in the purchase of these products and provide access to consumers accordingly. Controlling communications in public spaces that could generate anxiety would be advisable too. Originality/value: The conducted study shows that the shopping behavior during the onset of the COVID-19 pandemic was predicted by fear of the coronavirus and feelings of a lack of control.

Keywords: consumer behavior; stockpiling; coronavirus disease; lack of control; fear of infection; risk perception of COVID-19 infection (search for similar items in EconPapers)
JEL-codes: D10 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sgm:pzwzuw:v:20:i:97:y:2022:p:4-26

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