Panic buying or preparedness? The effect of information, anxiety and resilience on stockpiling by Muslim consumers during the COVID-19 pandemic

Abstract

Purpose

The purpose of this study is to examine the causes of consumer stockpiling by Muslim consumers during the coronavirus (COVID-19) pandemic. Specifically, this paper examines exposure to COVID-19 information and its relationship with panic buying directly, indirectly through anxiety and as moderated by resilience.

Design/methodology/approach

In the early stages of the COVID-19 pandemic, this study surveys 1,006 Muslims from a sample of 1,392 UAE citizens and residents about their exposure to COVID-19 information, anxiety, resilience and panic buying.

Findings

Greater exposure to COVID-19 information had a direct effect on panic buying yet a much weaker indirect effect through increased anxiety. This mediating effect is only significant at moderate to high levels of resilience, suggesting panic buying is a particular coping response of resilient individuals who experience anxiety after greater exposure to COVID-19 information. Anxiety was found to increase panic buying above that directly related to COVID-19 information exposure.

Social implications

Findings provide some guidance for policymakers where a nuanced approach to building and directing resilience and in directing information flows are needed to curtail panic buying within their Muslim populations.

Originality/value

While the phenomenon of consumer stockpiling is referred to as panic buying, the findings suggest that anxiety plays a smaller role in the process than preparedness prompted by crisis-related information exposure. Furthermore, this is the first study to date to specifically examine COVID-19 related panic buying among a Muslim population.

Citation

Sherman, C.E., Arthur, D. and Thomas, J. (2021), "Panic buying or preparedness? The effect of information, anxiety and resilience on stockpiling by Muslim consumers during the COVID-19 pandemic", Journal of Islamic Marketing, Vol. 12 No. 3, pp. 479-497. https://doi.org/10.1108/JIMA-09-2020-0309