Panic Buying and e-Commerce

Abstract

In situations such as epidemics, natural disasters or economic uncertainty, consumer purchasing behavior changes significantly. A consumer behavior that emerges with this change is the behavior defined as "panic buying". Considering the uncertainties and shortages that may occur in the future, consumers start to buy products that they do not even need. Today, while traditional shopping is rapidly being replaced by shopping through e-commerce, panic buying has also started to show itself increasingly on online platforms. E-commerce enables such shopping to be done more efficiently and easily with the fast access and wide product variety it offers to consumers. The relationship between panic buying behavior and e-commerce has gained increasing momentum in recent years and has become much more evident especially in times of crisis. E-commerce provides consumers with the opportunity to access products quickly and effectively in times of uncertainty. Panic buying has been frequently seen in connection with the sudden increase in demand for basic necessities, especially due to anxiety. E-commerce platforms can update stock status and prices to meet this high demand from consumers. In fact, some platforms and sellers may use crisis environments as an opportunity to increase product prices or to the point of running out of stock. This may cause consumers to shop more. Consumers who panic buy may avoid shopping in physical stores and instead turn to online shopping. Panic buying usually occurs more in situations such as fear, uncertainty, and anxiety.