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.
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.
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.
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.
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.
