Analyzing the Hoarding Behavior of Disinfection Products During COVID-19

DOI

10.2991/aebmr.k.220307.344How to use a DOI?

Keywords

Consumer hoarding behavior; Panic buying; COVID-19; Quarantine

Abstract

Hoarding and panic buying are common reactions of people towards unexpected disasters throughout history. This paper will specifically focus on COVID-19 and hoarding behaviors on masks, hand sanitizers, and other disinfection products that are essential during the pandemic. By researching historical examples of hoarding and sending out a questionnaire to find out current opinions on hoarding, this paper wants to investigate consumers’ motives and psychology behind these behaviors, and to further explore the impacts of this certain behavior and possible strategies firms can use in the future to deal with a similar situation. Over 100 questionnaires are collected and investigated, mostly from teenagers and young adults. As a result, we find that most consumers who commit hoarding behavior during a pandemic are more likely to already have a habit of stockpiling, and believe that hoarding can provide them with security and sanctuary. Even people who have not previously developed the habit of stockpiling necessities have considered hoarding disposable masks and other disinfection products during the pandemic due to the lack of security and convenience.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Jiamei Li
PY  - 2022
DA  - 2022/03/26
TI  - Analyzing the Hoarding Behavior of Disinfection Products During COVID-19
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 2101
EP  - 2104
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.344
DO  - 10.2991/aebmr.k.220307.344
ID  - Li2022
ER  -