A systematic literature Review of Panic Buying During Unknown Risks: The Covid-19 Pandemic as an Example

Abstract

This study aims to systematically review the literature on panic buying phenomenon during the COVID-19 pandemic, its triggers, causes, and consequences and to identify the determinates of panic buying during the COVID-19 crises based on the articles’ participating countries, research methods, and theories. The systematically literature review methodology is done through searching multiple databases which are Google scholar, ScienceDirect, Emerald and ProQuest. The systematic literature review has been conducted by analyzing 38 papers. The study found that panic buying behavior forms vary as rational or irrational, conscious or unconscious, and imitative or deliberate based on the buyer's mentality and the surrounding situational cues. The findings highlighted the need for better understanding of panic buying phenomenon during the pandemic and more insightful investigations on the role of government, media and society in exacerbating or controlling the situation.