Panic Purchasing: Food Hoarding in a City under Lockdown during the COVID-19 Pandemic

This research aimed to investigate the determinants of panic purchasing to hoard food in Ho Chi Minh City during the lockdown caused by the COVID-19 pandemic. Pragma- tism and the deduction approach were used for the research. During the lockdown period in Ho Chi Minh City, the purposive sampling technique was the first method used to reach the population that needed to be measured. Then, simple sampling was the second technique to collect data in the city in July and August 2021. Data were collected from 584 participants—higher than the required minimum sample size—who fulfilled the essential criteria to be included in the sample’s population. Multi-quantitative methods, including descriptive statistics, reliability tests for items, exploratory factor analysis, and linear regression analysis, were used to analyze the data obtained. The main findings are that perceived scarcity, susceptibility, severity, cues to action, and self-efficacy impacted panic purchasing to hoard foods. The results of this study are compared to the literature review in order to discuss panic buying behaviour, and recommendations are offered to policymakers and researchers in the future.

Keywords: perceived scarcity, perceived susceptibility, perceived severity, cues to action, self-efficacy

Suggested Citation: Suggested Citation

Nguyen, Nhan and Nguyen, Cuong and Khuu, Phat and Nguyen, Kha, Panic Purchasing: Food Hoarding in a City under Lockdown during the COVID-19 Pandemic (October 8, 2022). Gadjah Mada International Journal of Business, Vol. 24, No. 3 (September-December 2022): 310-323, Available at SSRN: https://ssrn.com/abstract=4242334 or http://dx.doi.org/10.2139/ssrn.4242334