Impact of COVID-19 crisis on stocking and impulse buying behaviour of consumers

Abstract

Purpose: The current study investigates how consumers are reacting to the COVID-19 pandemic. The study aims to explain consumers' stockpiling and impulse buying behaviour during the current crisis. Design/methodology/approach: Based on the scope and focus of this study, our primary data collection tool was an online survey questionnaire that was sent to 1,000+ people and the results were computed from 417 responses received. The study employed Exploratory Factor Analysis to substantiate the construct validity of the constructs. Unidimensionality, validity and reliability of the model were assessed using confirmatory factor analysis. The effect of the COVID crisis on consumer stocking and impulse buying behaviour was investigated using structural equation modelling. Findings: The findings show that the COVID pandemic did have a significant impact on consumer behavioural patterns indicated by the stocking and impulse buying behaviour of consumers. Practical implications: These results have consequences for policymakers and practitioners in terms of adjusting inventory and response policies, especially in terms of efficient supply chain management processes and actively reaching out to customers to reduce their fear and anxiety levels, which contribute to such panic activity. Originality/value: This paper adds value to the literature on consumer behaviour during COVID-19 pandemic in case of Indian consumers. The findings of the paper will help in doing a comparison of the said behaviour of consumers in other parts of the world. The paper also helps in explaining the underlying theories elucidating such behaviour of consumers.