Effects of crisis-induced inflation on purchasing and consumer behavior in Germany

This study examines the impact of crisis-induced inflation and product scarcity on consumer behavior in Germany. Using the React-Cope-Adapt (RCA) framework, it analyzes how financial constraints and product shortages influence stress, financial planning, and purchasing decisions. The study is based on a two-wave survey (T1: N = 152, T2: N = 129) conducted during periods of high inflation and pre-Christmas economic conditions. Partial Least Squares Structural Equation Modeling (PLS-SEM) is applied to assess the dynamic interplay between financial constraints, stress, and behavioral adaptations over time.

The results indicate that financial constraints and product scarcity significantly increase stress levels, which in turn drive both impulsive (e.g., panic buying) and strategic (e.g., financial planning) consumer responses. Financial planning proves to be a key coping mechanism, leading to reduced discretionary spending and a greater reliance on private-label products. Over time, stress-driven behaviors, such as panic buying, decline, while structured financial adjustments persist.

The findings provide practical implications for policymakers and retailers. Transparent financial communication and targeted support measures can help mitigate stress, while retailers can address shifting consumer preferences by expanding cost-effective product offerings and strengthening supply chain resilience.