Weng Marc Lim, Hassan Daronkola Kalantari, Chamila Roshani Perera
{"title":"恐慌性购买的商业价值及其对市场营销的影响","authors":"Weng Marc Lim, Hassan Daronkola Kalantari, Chamila Roshani Perera","doi":"10.1002/cb.2331","DOIUrl":null,"url":null,"abstract":"<p>In the wake of the significant impact of the COVID-19 pandemic on industries and societies worldwide, the world has transitioned into a new normal marked by increased susceptibility to disruptive, volatile, uncertain, complex, and ambiguous (DVUCA) events. In this new normal, panic buying has proliferated into a pervasive global consumer behavior, rendering far-reaching implications on economies and societies worldwide and thus necessitating thorough investigation. Existing literature on panic buying is constrained by two noteworthy limitations: firstly, the scarcity of studies that delineate the commercial impact of panic buying, and secondly, the dearth of longitudinal data in panic buying research. Addressing these gaps, this study employs longitudinal multi-sourced monthly and seasonally adjusted secondary data comprising retail revenue of supermarkets and grocery stores and related COVID-19 indicators in Australia to establish a case of panic buying and examine its commercial impact. Using 10 generalized least squares and two-stage least squares regressions, we observe a positive, statistically significant relationship between the intensity of external crises and retail revenue, even when accounting for control and instrumental variables. Specifically, the increasing number of COVID-19 new cases was found to produce a positive and significant effect on supermarket and grocery store revenue, with each new case contributing AU $0.02 million. Therefore, the present study contributes alternative evidence from the field that not only reaffirms the effect of externalities such as COVID-19 in stimulating panic buying among consumers, but also highlights, for the first time, the commercial value of panic buying. The marketing implications of these findings in the new normal are also discussed.</p>","PeriodicalId":48047,"journal":{"name":"Journal of Consumer Behaviour","volume":null,"pages":null},"PeriodicalIF":4.4000,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/cb.2331","citationCount":"0","resultStr":"{\"title\":\"Commercial value of panic buying and its marketing implications\",\"authors\":\"Weng Marc Lim, Hassan Daronkola Kalantari, Chamila Roshani Perera\",\"doi\":\"10.1002/cb.2331\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>In the wake of the significant impact of the COVID-19 pandemic on industries and societies worldwide, the world has transitioned into a new normal marked by increased susceptibility to disruptive, volatile, uncertain, complex, and ambiguous (DVUCA) events. In this new normal, panic buying has proliferated into a pervasive global consumer behavior, rendering far-reaching implications on economies and societies worldwide and thus necessitating thorough investigation. Existing literature on panic buying is constrained by two noteworthy limitations: firstly, the scarcity of studies that delineate the commercial impact of panic buying, and secondly, the dearth of longitudinal data in panic buying research. Addressing these gaps, this study employs longitudinal multi-sourced monthly and seasonally adjusted secondary data comprising retail revenue of supermarkets and grocery stores and related COVID-19 indicators in Australia to establish a case of panic buying and examine its commercial impact. Using 10 generalized least squares and two-stage least squares regressions, we observe a positive, statistically significant relationship between the intensity of external crises and retail revenue, even when accounting for control and instrumental variables. Specifically, the increasing number of COVID-19 new cases was found to produce a positive and significant effect on supermarket and grocery store revenue, with each new case contributing AU $0.02 million. Therefore, the present study contributes alternative evidence from the field that not only reaffirms the effect of externalities such as COVID-19 in stimulating panic buying among consumers, but also highlights, for the first time, the commercial value of panic buying. 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Commercial value of panic buying and its marketing implications
In the wake of the significant impact of the COVID-19 pandemic on industries and societies worldwide, the world has transitioned into a new normal marked by increased susceptibility to disruptive, volatile, uncertain, complex, and ambiguous (DVUCA) events. In this new normal, panic buying has proliferated into a pervasive global consumer behavior, rendering far-reaching implications on economies and societies worldwide and thus necessitating thorough investigation. Existing literature on panic buying is constrained by two noteworthy limitations: firstly, the scarcity of studies that delineate the commercial impact of panic buying, and secondly, the dearth of longitudinal data in panic buying research. Addressing these gaps, this study employs longitudinal multi-sourced monthly and seasonally adjusted secondary data comprising retail revenue of supermarkets and grocery stores and related COVID-19 indicators in Australia to establish a case of panic buying and examine its commercial impact. Using 10 generalized least squares and two-stage least squares regressions, we observe a positive, statistically significant relationship between the intensity of external crises and retail revenue, even when accounting for control and instrumental variables. Specifically, the increasing number of COVID-19 new cases was found to produce a positive and significant effect on supermarket and grocery store revenue, with each new case contributing AU $0.02 million. Therefore, the present study contributes alternative evidence from the field that not only reaffirms the effect of externalities such as COVID-19 in stimulating panic buying among consumers, but also highlights, for the first time, the commercial value of panic buying. The marketing implications of these findings in the new normal are also discussed.
期刊介绍:
The Journal of Consumer Behaviour aims to promote the understanding of consumer behaviour, consumer research and consumption through the publication of double-blind peer-reviewed, top quality theoretical and empirical research. An international academic journal with a foundation in the social sciences, the JCB has a diverse and multidisciplinary outlook which seeks to showcase innovative, alternative and contested representations of consumer behaviour alongside the latest developments in established traditions of consumer research.