Consumer Stockpiling Behaviour within the Face of COVID-19 Pandemic: Systematic Review
Sri Lanka Journal of Management Studies, 3(1), 66–86. DOI: http://doi.org/10.4038/sljms.v3i1.65
24 Pages Posted: 21 Jan 2021 Last revised: 15 Dec 2021
Date Written: January 20, 2021
Novel Coronavirus or COVID-19 remains as the most prominent Pandemic disease since it spreads with a distinct composition with considerable intensity all over the world. Market psychology refers to studying the individuals, groups, organizations and processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs. Herein, identify the hidden antecedents on consumer behavior during a Pandemic is worthwhile, since the market psychology directly influences on how consumer behaves with the “fear of Pandemic”. Within this contrary, the consumer stockpiling in the face of the COVID-19 Pandemic can be viewed as unconventional inventory accumulation, mainly meant to minimize a perceived threat of loss or fear of going without. The main objective of this paper to systemize and organize the contemporary knowledge on stockpiling behavior during a Pandemic. Herein, firstly the methodology is extensively discussed, secondly, the analysis and discussion section is presented, with, a) citation analysis which was performed to evaluate the emerging research studies of stockpiling behavior and, b) comprehensive analytical models within the literature. Research articles were selected from the well reputed research data bases, including Web of Science, JStore and Google Scholar, and total of 60 research papers were used for the analysis, whereas a limited number of studies available by catering to areas of “stockpiling behavior” and “Pandemic/disasters. Analysis was two folds, whereas (a) Citation Analysis conducted with themes and (b) identified the comprehensive analytical models. Citation analysis discovered five main themes, namely: (1) Post-Switch Stockpiling, (2) Brand Switching and Stockpiling Behaviour. (3) Social Media and stockpiling behavior, (4) Predictors of Stockpiling Behaviour and (5) Behaviour in Pandemic situations. Further , Within the analytical models proposed, the model by Ling & Ho (2020) have been identified to test empirically the hidden patterns, panic-buying behavior and social context of the consumer behavior deeply. Authors suggest to align the model to fill the empirical gap within the consumer behavior research context.
Keywords: Consumer Behaviour, COVID-19 Pandemic, Marketing, Panic buying, stockpiling behavior
JEL Classification: M31, M30, M10
Suggested Citation: Suggested Citation