Title: Unveiling the psychological drivers of panic buying: the role of perceived arousal in forming consumer behaviour during health crises in Vietnam

Authors: Anh-Tin Ngo; Thu-Hien Thi Dao; Quang-Chien Vu

Addresses: Faculty of Business Administration, Nguyen Tat Thanh University, HCMC, 70000, Vietnam; Department of Science and Technology, Can Tho City, 94055, Vietnam ' Faculty of Business Administration, Department of International Business, Nguyen Tat Thanh University, HCMC, 70000, Vietnam ' Faculty of Business Administration, Becamex Business School, Eastern International University, Binh Duong, 82000, Vietnam

Abstract: This paper investigates the key psychological and needs-based factors influencing consumers' panic buying behaviour on social networking and media-sharing platforms during a public health crisis. The study focuses on five factors: perceived behavioural control (PBC), scarcity (SCA), perceived social detection (PSD), perceived severity (PSV), and information overload (IOL), exploring their effects on consumer mental evaluations in Vietnam. Data was collected from 270 respondents across three regions of Vietnam through an online survey and analysed using structural equation modelling (SEM). The findings reveal that PBC and IOL positively correlate with perceived arousal (PAR), which drives panic buying behaviour. However, SCA, PSD, and PSV did not significantly impact PAR. These results contribute valuable insights into the psychological drivers of panic buying during crises, enhancing understanding consumer behaviour under stress. The study provides new directions for exploring diverse relationships and respondent types in global pandemic contexts and crises.

Keywords: panic buying behaviour; PBC; perceived behavioural control; SCA; scarcity; PSD; perceived social detection; perceived severity; IOL; information overload.

DOI: 10.1504/JGBA.2023.145693

Journal for Global Business Advancement, 2023 Vol.16 No.5, pp.736 - 761

Received: 30 Dec 2024
Accepted: 07 Jan 2025
Published online: 15 Apr 2025 *

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