Factors Causing Panic Purchasing Behavior during the COVID-19 Pandemic and Customer Satisfaction With Government Intervention as the Moderating Variable

Abstract

Abstract: It is essential to observe the phenomenon of panic buying during the COVID-19 pandemic. Additionally, research into panic buying spans multiple study fields, and deserves more consistent scientific attention. This study examines the factors of panic buying behavior using the theory of Maslow's hierarchy of needs to scrutinize panic buying behavior regarding consumer needs. Subsequently, this study investigates the moderating variable of government intervention to fill the research gap. Furthermore, this study looks for the effect on customer satisfaction that resulted from the panic buying behavior phenomenon. The data were collected from 456 grocery and drug store consumers in Indonesia, who shopped throughout the COVID-19 pandemic. PLS-SEM was used to analyze the data. The outcomes indicate that control, social media, perceived severity, and perceived scarcity significantly affect panic buying behavior. In contrast, government intervention only moderated the effect of social media on panic buying. Finally, the phenomenon of panic buying significantly affects customer satisfaction.