The psychographic chain of effects of panic buying: Perspectives from...

In many countries worldwide during the outbreak of the COVID-19 pandemic, panic buying could be observed, which led to empty shelves and stock-outs of medical products in pharmacies and supply chain disruptions for several daily consumables jeopardizing the basic supply for vulnerable target groups. So far, however, an influencing chain of panic buying based on psychographic variables has not been developed so far. Thus, the present study fills this research gap. The authors report on an empirical study with 309 respondents by applying an online survey among the student base of a small Austrian university. The results derived from SEM emphasize the importance of neuroticism, extraversion, conscientiousness, and intolerance of uncertainty leading to COVID-19 involvement, with risk perception and COVID-19 anxiety as mediators on the extent of panic buying. The findings have implications for the theory and practice of communication policy in general.