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AN ANALYSIS OF STOCKPILING BEHAVIOR AT THE ONSET OF THE COVID-19 PANDEMIC

Yıl 2023, Cilt: 24 Sayı: 3, 342 - 358, 25.09.2023
https://doi.org/10.53443/anadoluibfd.1271113

Öz

Excessive stockpiling due to panic buying during emergencies such as natural disasters and pandemics can increase pressure on supply chains and exacerbate supply shortages. This study uses household level purchase data from the United States to analyze the extent of stockpiling on dry food (rice and pasta) at the onset of the COVID-19 pandemic period in March 2020. The results show significant differences in the extent and timing of stockpiling among different demographic groups. Among the elderly and low-income households, the increase in purchases is substantially smaller and occurs with a lag compared to other population groups, suggesting that these vulnerable populations may be at a particular disadvantage in accessing essential goods during a crisis. The managerial and public policy implications of this "stockpiling inequality" are discussed.

Kaynakça

  • Ahmadi, I., Habel, J., Jia, M., Lee, N., & Wei, S. (2022). Consumer stockpiling across cultures during the COVID-19 pandemic. Journal of International Marketing, 30(2), 28-37.
  • Amaral, N. B., Chang, B., & Burns, R. (2022). Understanding consumer stockpiling: Insights provided during the COVID‐19 pandemic. Journal of Consumer Affairs, 56(1), 211-236.
  • Arafat, S. Y., Kar, S. K., Marthoenis, M., Sharma, P., Apu, E. H., & Kabir, R. (2020). Psychological underpinning of panic buying during pandemic (COVID-19). Psychiatry Research, 289.
  • Billore, S., & Anisimova, T. (2021). Panic buying research: A systematic literature review and future research agenda. International Journal of Consumer Studies, 45(4), 777-804.
  • Bucklin, R. E., Gupta, S., & Han, S. (1995). A brand's eye view of response segmentation in consumer brand choice behavior. Journal of Marketing Research, 32(1), 66-74.
  • Chen, Y., Rajabifard, A., Sabri, S., Potts, K. E., Laylavi, F., Xie, Y., & Zhang, Y. (2020). A discussion of irrational stockpiling behaviour during crisis. Journal of Safety Science and Resilience, 1(1), 57-58.
  • Ching, A. T., & Osborne, M. (2020). Identification and estimation of forward-looking behavior: The case of consumer stockpiling. Marketing Science, 39(4), 707-726.
  • Cruz-Cárdenas, J., Zabelina, E., Guadalupe-Lanas, J., Palacio-Fierro, A., & Ramos-Galarza, C. (2021). COVID-19, consumer behavior, technology, and society: A literature review and bibliometric analysis. Technological forecasting and social change, 173, 121179.
  • Dammeyer, J. (2020). An explorative study of the individual differences associated with consumer stockpiling during the early stages of the 2020 Coronavirus outbreak in Europe. Personality and Individual Differences, 167, 110263.
  • Dong, X., & Klaiber, H. A. (2019). Consumer stockpiling in response to the US EISA “light bulb ban”. Energy Economics, 81, 566-576.
  • Gupta, S. (1991). Stochastic models of ınterpurchase time with time-dependent covariates. Journal of Marketing Research, 28(1), 1–15.
  • Gupta, R., Nair, K., & Radhakrishnan, L. (2021). Impact of COVID-19 crisis on stocking and impulse buying behaviour of consumers. International Journal of Social Economics, 48(12), 1794-1809.
  • Hill, R. P., & Sharma, E. (2020). Consumer vulnerability. Journal of Consumer Psychology, 30(3), 551-570.
  • Hori, M., & Iwamoto, K. (2014). The run-on daily foods and goods after the 2011 Tohoku earthquake: a fact finding analysis based on homescan data. The Japanese Political Economy, 40(1), 69-113.
  • Ishida, T., Maruyama, A., & Kurihara, S. (2013). Consumer reaction to the great east Japan earthquake. Journal of Life Sciences, 7(8), 883.
  • Kulemeka, O. (2010). US consumers and disaster: Observing “panic buying” during the winter storm and hurricane seasons. ACR North American Advances.
  • McKinnon, G., Smith, M. E., & Keith Hunt, H. (1985). Hoarding behavior among consumers: Conceptualization and marketing implications. Journal of the Academy of Marketing Science, 13(1-2), 340-351.
  • Mela, C. F., Jedidi, K., & Bowman, D. (1998). The long-term impact of promotions on consumer stockpiling behavior. Journal of Marketing research, 35(2), 250-262.
  • Meyer, R. J., & Assuncao, J. (1990). The optimality of consumer stockpiling strategies. Marketing Science, 9(1), 18-41.
  • Micalizzi, L., Zambrotta, N. S., & Bernstein, M. H. (2021). Stockpiling in the time of COVID‐19. British journal of health psychology, 26(2), 535-543.
  • Naeem, M. (2021). Do social media platforms develop consumer panic buying during the fear of Covid-19 pandemic. Journal of Retailing and Consumer Services, 58, 102226.
  • Pan, X., Dresner, M., Mantin, B., & Zhang, J. A. (2020). Pre‐hurricane consumer stockpiling and post‐hurricane product availability: Empirical evidence from natural experiments. Production and Operations Management, 29(10), 2350-2380.
  • Papagiannidis, S., Alamanos, E., Bourlakis, M., & Dennis, C. (2022). The pandemic consumer response: a stockpiling perspective and shopping channel preferences. British Journal of Management.
  • Prentice, C., Chen, J., & Stantic, B. (2020). Timed intervention in COVID-19 and panic buying. Journal of Retailing and Consumer Services, 57, 102203.
  • Prentice, C., Quach, S., & Thaichon, P. (2022). Antecedents and consequences of panic buying: The case of COVID‐19. International Journal of Consumer Studies, 46(1), 132-146.
  • Sadus, K., Göttmann, J., & Schubert, A. L. (2022). Predictors of stockpiling behavior during the COVID-19 pandemic in Germany. Journal of Public Health, 1-17.
  • Singh, G., Slack, N. J., Sharma, S., & Dhir, A. (2023). Stockpiling intentions and customer well‐being during the COVID‐19 pandemic. Journal of Consumer Affairs, (SI), 1-27.
  • Sterman, J. D., & Dogan, G. (2015). “I’m not hoarding, i’m just stocking up before the hoarders get here.”: Behavioral causes of phantom ordering in supply chains. Journal of Operations Management, 39, 6-22.
  • Wang, E., An, N., Gao, Z., Kiprop, E., & Geng, X. (2020). Consumer food stockpiling behavior and willingness to pay for food reserves in COVID-19. Food Security, 12(4), 739-747.
  • Yuen, K. F., Wang, X., Ma, F., & Li, K. X. (2020). The psychological causes of panic buying following a health crisis. International journal of environmental research and public health, 17(10), 3513.
  • Zhang, Y., & Zhou, R. (2021). Promoting social distancing and preventing panic buying during the epidemic of COVID-19: The contributions of people’s psychological and behavioural factors. Journal of Public Health, 31, 1-15.

COVID-19 PANDEMİSİNİN BAŞLANGICINDAKİ STOKLAMA DAVRANIŞININ ANALİZİ

Yıl 2023, Cilt: 24 Sayı: 3, 342 - 358, 25.09.2023
https://doi.org/10.53443/anadoluibfd.1271113

Öz

Doğal afetler ve pandemiler gibi aciliyet durumlarında hanehalklarının panik alımları tedarik zincirleri üzerindeki baskıyı arttırmakta ve tedarik darboğazlarına yol açabilmektedir. Bu çalışma, Amerika Birleşik Devletleri'nden hane düzeyinde gerçek satın alma verisi kullanarak COVİD-19 pandemi döneminin başlangıcına tekabül eden Mart 2020 döneminde tüketicilerin kuru gıda (pirinç ve makarna) stoklama davranışını analiz etmektedir. Sonuçlar, farklı demografik gruplar arasında stoklama davranışında miktar ve zamanlama açısından önemli farklılıklara işaret etmektedir. Özellikle, satın alımların yaşlılar ve düşük gelirli haneler için diğer demografik gruplara kıyasla önemli ölçüde geride kalması ve gecikmeli olarak gerçekleşmesi, bu hassas toplum kesimlerinin bir kriz sırasında temel mallara erişimde dezavantajlı olabileceğini düşündürmektedir. Çalışmanın sonuç bölümünde bu "stoklama eşitsizliği" ile ilgili işletmeler ve kamu politikası açısından alınabilecek önlemler değerlendirilmektedir.

Kaynakça

  • Ahmadi, I., Habel, J., Jia, M., Lee, N., & Wei, S. (2022). Consumer stockpiling across cultures during the COVID-19 pandemic. Journal of International Marketing, 30(2), 28-37.
  • Amaral, N. B., Chang, B., & Burns, R. (2022). Understanding consumer stockpiling: Insights provided during the COVID‐19 pandemic. Journal of Consumer Affairs, 56(1), 211-236.
  • Arafat, S. Y., Kar, S. K., Marthoenis, M., Sharma, P., Apu, E. H., & Kabir, R. (2020). Psychological underpinning of panic buying during pandemic (COVID-19). Psychiatry Research, 289.
  • Billore, S., & Anisimova, T. (2021). Panic buying research: A systematic literature review and future research agenda. International Journal of Consumer Studies, 45(4), 777-804.
  • Bucklin, R. E., Gupta, S., & Han, S. (1995). A brand's eye view of response segmentation in consumer brand choice behavior. Journal of Marketing Research, 32(1), 66-74.
  • Chen, Y., Rajabifard, A., Sabri, S., Potts, K. E., Laylavi, F., Xie, Y., & Zhang, Y. (2020). A discussion of irrational stockpiling behaviour during crisis. Journal of Safety Science and Resilience, 1(1), 57-58.
  • Ching, A. T., & Osborne, M. (2020). Identification and estimation of forward-looking behavior: The case of consumer stockpiling. Marketing Science, 39(4), 707-726.
  • Cruz-Cárdenas, J., Zabelina, E., Guadalupe-Lanas, J., Palacio-Fierro, A., & Ramos-Galarza, C. (2021). COVID-19, consumer behavior, technology, and society: A literature review and bibliometric analysis. Technological forecasting and social change, 173, 121179.
  • Dammeyer, J. (2020). An explorative study of the individual differences associated with consumer stockpiling during the early stages of the 2020 Coronavirus outbreak in Europe. Personality and Individual Differences, 167, 110263.
  • Dong, X., & Klaiber, H. A. (2019). Consumer stockpiling in response to the US EISA “light bulb ban”. Energy Economics, 81, 566-576.
  • Gupta, S. (1991). Stochastic models of ınterpurchase time with time-dependent covariates. Journal of Marketing Research, 28(1), 1–15.
  • Gupta, R., Nair, K., & Radhakrishnan, L. (2021). Impact of COVID-19 crisis on stocking and impulse buying behaviour of consumers. International Journal of Social Economics, 48(12), 1794-1809.
  • Hill, R. P., & Sharma, E. (2020). Consumer vulnerability. Journal of Consumer Psychology, 30(3), 551-570.
  • Hori, M., & Iwamoto, K. (2014). The run-on daily foods and goods after the 2011 Tohoku earthquake: a fact finding analysis based on homescan data. The Japanese Political Economy, 40(1), 69-113.
  • Ishida, T., Maruyama, A., & Kurihara, S. (2013). Consumer reaction to the great east Japan earthquake. Journal of Life Sciences, 7(8), 883.
  • Kulemeka, O. (2010). US consumers and disaster: Observing “panic buying” during the winter storm and hurricane seasons. ACR North American Advances.
  • McKinnon, G., Smith, M. E., & Keith Hunt, H. (1985). Hoarding behavior among consumers: Conceptualization and marketing implications. Journal of the Academy of Marketing Science, 13(1-2), 340-351.
  • Mela, C. F., Jedidi, K., & Bowman, D. (1998). The long-term impact of promotions on consumer stockpiling behavior. Journal of Marketing research, 35(2), 250-262.
  • Meyer, R. J., & Assuncao, J. (1990). The optimality of consumer stockpiling strategies. Marketing Science, 9(1), 18-41.
  • Micalizzi, L., Zambrotta, N. S., & Bernstein, M. H. (2021). Stockpiling in the time of COVID‐19. British journal of health psychology, 26(2), 535-543.
  • Naeem, M. (2021). Do social media platforms develop consumer panic buying during the fear of Covid-19 pandemic. Journal of Retailing and Consumer Services, 58, 102226.
  • Pan, X., Dresner, M., Mantin, B., & Zhang, J. A. (2020). Pre‐hurricane consumer stockpiling and post‐hurricane product availability: Empirical evidence from natural experiments. Production and Operations Management, 29(10), 2350-2380.
  • Papagiannidis, S., Alamanos, E., Bourlakis, M., & Dennis, C. (2022). The pandemic consumer response: a stockpiling perspective and shopping channel preferences. British Journal of Management.
  • Prentice, C., Chen, J., & Stantic, B. (2020). Timed intervention in COVID-19 and panic buying. Journal of Retailing and Consumer Services, 57, 102203.
  • Prentice, C., Quach, S., & Thaichon, P. (2022). Antecedents and consequences of panic buying: The case of COVID‐19. International Journal of Consumer Studies, 46(1), 132-146.
  • Sadus, K., Göttmann, J., & Schubert, A. L. (2022). Predictors of stockpiling behavior during the COVID-19 pandemic in Germany. Journal of Public Health, 1-17.
  • Singh, G., Slack, N. J., Sharma, S., & Dhir, A. (2023). Stockpiling intentions and customer well‐being during the COVID‐19 pandemic. Journal of Consumer Affairs, (SI), 1-27.
  • Sterman, J. D., & Dogan, G. (2015). “I’m not hoarding, i’m just stocking up before the hoarders get here.”: Behavioral causes of phantom ordering in supply chains. Journal of Operations Management, 39, 6-22.
  • Wang, E., An, N., Gao, Z., Kiprop, E., & Geng, X. (2020). Consumer food stockpiling behavior and willingness to pay for food reserves in COVID-19. Food Security, 12(4), 739-747.
  • Yuen, K. F., Wang, X., Ma, F., & Li, K. X. (2020). The psychological causes of panic buying following a health crisis. International journal of environmental research and public health, 17(10), 3513.
  • Zhang, Y., & Zhou, R. (2021). Promoting social distancing and preventing panic buying during the epidemic of COVID-19: The contributions of people’s psychological and behavioural factors. Journal of Public Health, 31, 1-15.
Toplam 31 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Araştırma Makalesileri
Yazarlar

Ali Umut Güler 0000-0003-0093-7568

Yayımlanma Tarihi 25 Eylül 2023
Gönderilme Tarihi 26 Mart 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 24 Sayı: 3

Kaynak Göster

APA Güler, A. U. (2023). AN ANALYSIS OF STOCKPILING BEHAVIOR AT THE ONSET OF THE COVID-19 PANDEMIC. Anadolu Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 24(3), 342-358. https://doi.org/10.53443/anadoluibfd.1271113

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