Factors Influencing Panic Buying Behavior among Consumers in Lebanon during the COVID-19 Pandemic

This study analyzes consumer panic buying behavior applied in the grocery sector. Furthermore, it examines the effect of perceived severity, perceived scarcity, and fear of COVID-19, anxiety on consumer panic buying behavior. Moreover, this study also investigates anxiety as a mediator to understand these relationships.
Likewise, the researchers conducted an administered structured questionnaire—with a convenience sample of 391 respondents of grocery sector consumers. The researchers adopted structural equation modeling (SEM) to analyze the proposed scale validity and the relationships between the present research variables.
The findings of this study revealed that perceived severity, perceived scarcity, fear of COVID-19 and anxiety have a positive effect on panic buying behavior. In addition, the results indicate that anxiety mediate the relation between these variables and the behavior of panic buying.
 The current study is established on stimulus-organism- response- framework, expectation theory and reactance theory. In this context, this study provides empirical support to validate the above mentioned theories. Moreover, this study enhances marketing literature to understand consumers' behaviors under under unusual and emergent situations.
This research supports both policymakers and managers in the grocery sector. First, policymakers can better understand and analyze consumer buying behavior under emergent crises like the COVID-19 pandemic. However, this understanding will improve their proficiency to alleviate the negative aspects of the pandemic periods. Second, grocery managers could better understand consumer panic behavior, guiding them to fulfill consumer needs and efficiently attain their marketing objectives.
 
This study has some limitations. These limitations should be taken into consideration when explaining the current research results. First, the present study is conducted in Beirut, limiting the research scope. Second, this study adopted a convenience sampling technique that undermines its generalizability. Finally, other variables may advance and explain panic buying behavior, such as information overload and consumer personality traits. Future studies are recommended to highlight on consumer panic behavior as a topic to overcome the current study limitations.