Extrinsic and intrinsic motives: panic buying and impulsive buying during a pandemic

PurposeThe present study operationalizes and tests the impact of extrinsic (store environment, promotional activities) and intrinsic (hedonism, materialism) variables on impulsive buying during the COVID-19 period. It also considers the dual-factor approach (panic and impulsive buying tendency) using the “Stimulus-Organism-Response” approach and “Dual-Factor Theory”.Design/methodology/approachPurposive sampling was used to obtain data from 362 responses from retail shoppers and analyzed by path analysis. The moderation of novel constructs (scarcity and COVID-19 pandemic) examines the backdrop of retail impulse shopping.FindingsThe store environment has a detrimental effect on panic and impulsive buying. Promotional activities have a beneficial effect on impulsive buying tendency. Similarly, hedonism and materialism have a substantial positive effect on panic and impulsive buying tendencies. Between stimulus (intrinsic and extrinsic) and response variables, organism factors (panic and impulsive buying inclinations) influenced positively (impulsive buying); in terms of moderation, scarcity and the COVID-19 pandemic exhibit substantial moderation between organism and response.Originality/valueThe results contribute substantially to the existing domain of customers’ panic and impulsive purchasing behavior for the scarcity of essential items during the COVID-19 epidemic. Research in this field is limited, varied and inconclusive. New insights were obtained as this research blends the “Stimulus-Organism-Response” and Dual factor theories.