Panic-Buying Behavior During The Covid-19 Pandemic in Indonesia: A Social Cognitive Theoretical Model
Currently, there are limited studies on the application of the social cognitive theory in social psychology, particularly in explaining and predicting panic-buying behavior during the COVID-19 pandemic in Indonesia. This study is primarily aimed at acknowledging the role of the social cognitive theory’s development in explaining and predicting the panic-buying behavior of Indonesian citizens during the COVID-19 pandemic. The development of the theory is attained by combining emotions and subjective norms to predict the panic-buying behavior intention in Indonesia. Using a purposive sampling technique, the sample size consists of 350 respondents from various areas, such as Jakarta, Tangerang, and Banten. An online survey was performed as the data collection method. Social desirabilit response (SDR) test was also conducted by this study to guarantee the naturality of the replies from the respondents. Data were then analyzed using structural equation modeling (SEM) with a two-stage approach. The result demonstrated that emotions have the highest impact on the panic-buying behavioral intention. Further, subjective norms, self-efficacy, and social outcome expectancies have the second, third, and fourth highest impacts on panic-buying behavior, respectively. In general, the social cognitive theory model developed in this study can understand, explain, and predict panic-buying behavior during the COVID-19 pandemic outbreak in Indonesia. Overall, the results of this study may serve as basic information for practitioners and business persons by providing insights regarding the factors that form consumers’ intentions and behavior during the pandemic, relating to their buying decisions.
Agarwal, R., Anderson, C., Zarate, J., and Ward, C. (2013). If we offer it, will they accept it? Factors affecting patient use intentions of personal health records and secure messaging. Journal of Medical Internet Research, 15(2), 1–14.
Ajzen, I. (1988). Attitudes, Personality, and Behavior. Milton Keynes: Open University Press.
Ajzen, I. and Fishbein, M. (1980). Understanding Attitudes and Predicting Social Behavior. Englewood Cliffs, NJ: Prentice-Hall.
Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211.
Ajzen, I. (2005). Attitudes, Personality, and Behavior. Berkshire: Open University Press.
Ajzen, I. (2011). Behavioral interventions: Design and evaluation guided by the theory of planned behavior. In Social psychology and evaluation, eds. Melvin M. Mark, Stewart I. Donaldson, and Bernadette Campbell. New York, NY: Guilford.
Ajzen, I. (2012). Martin Fishbein's Legacy: The Reasoned Action Approach. The Annals of the American Academy of Political and Social Science, 640(1), 11-27
Ajzen, I., and Madden, T. J. (1986). Prediction of goal-directed behavior: Attitudes, intentions, and perceived behavioral control. Journal of Experimental Social Psychology, 22(5), 453–474. https://doi.org/10.1016/0022-1031(86)90045-4
Alexander, D. S., Cao, C., and Alfonso, M. L. (2002). Examining Whether the Social Cognitive Theory Concepts Predict Childhood Obesity Prevention Outcome Expectations. International Quarterly of Community Health Education, 0(0), 1–9.
Amalia, F., Fadillah, R., Aji, M. R. W., Masnatin, H., Maulida, R. H., Komalasari, R., Yustiningsih, F., Sitompul, H. T. S., Silitonga, R. L. H., Saputra, A., Rachman, A. T., Apriyanto, D., Roseline, H., Maulidya, M., Hardaningtyas, W., Ayuningtyas, W. C., Farisy, Z., Amaliyah, I., dan Masteriarsa, M. F. (2020). Perkembangan Ekonomi Indonesia dan Dunia: Ancaman Resesi Dunia Akibat Pandemi (Triwulan 1 Tahun 2020). Kementerian PPN/BAPPENAS, 4(1), 1-86
Armitage, C. J., and Conner, M. (2000). Social cognition models and health behavior: A structured review. Psychology & Health Psychology and Health, 15(15), 173–189. https://doi.org/10.1080/08870440008400299
Arora, R., and Singer, J. (2006). Cognitive and Affective Service Marketing Strategies for Fine Dining Restaurant Managers. Journal of Small Business Strategy, 17(1), 51–61.
Bagozzi, R.P., Gopinath, M., and Nyer, P. (1999). The Role of Emotions in Marketing. Academy of Marketing Science Journal, 27(2), 184–206.
Bagozzi, R. (1997). Goal-Directed Behaviors in Marketing: Cognitive and Emotional Perspectives. Psychology and Marketing, 14(6), 539–543.
Bandura, A. (1991). Social Cognitive Theory of Self Regulation. Organizational Behavior and Human Decision Processes, 50(2), 248–287.
Bandura, A. (1989). Human Agency in Social Cognitive Theory. American Psychologist, 44(9), 1175–1184.
Bandura, Albert. (1991). Social Cognitive Theory of Self Regulation. Organizational Behavior and Human Decision Processes, 50(2), 248–287.
Bandura, Albert. (1996). Social Learning Theory. Englewood Cliffs, NJ; Prentice-Hall.
Bandura, Albert. (2001). Social Cognitive Theory: An Agentic Perspective. Annual Review of Psychology, 52(1), 1–26. https://doi.org/10.1146/annurev.psych.52.1.1
Bandura, A. (2002). Social Cognitive Theory in Cultural Context. Applied Psychology: An International Review, 51(2), 269–290. https://doi.org/10.1111/1464-0597.00092
Benight, C. C.and Harper, M. L. (2002). Coping self-efficacy perceptions as a mediator between acute stress response and long-term distress following natural disasters. Journal of Traumatic Stress, 15(3), 177–186.
Bonneux, L. and Van Damme, W. (2006). An iatrogenic pandemic of panic. British Medical Journal, 332(7544), 786–788.
Budiyanti, H., and Patiro, S. P. S. (2018). Perceived fairness, emotions, and intention of fast-food chain restaurant customers in Indonesia. Gadjah Mada International Journal of Business, 20(2). https://doi.org/10.22146/gamaijb.30136
Caprara, G.V., Di Giunta, L., Eisenberg, N., Gerbino, M., Pastorelli C., and Tramontano, C. (2008). Assessing regulatory emotional self-efficacy in three countries. Psychological Assessment, 20(3), 227–237. doi 10.1037/1040-35126.96.36.199
Carillo, K. D. (2010). Social cognitive theory in is research–literature review, criticism, and research agenda. International Conference on Information Systems, Technology, and Management.
Chin, W. W. (1998). The partial least squares approach for structural equation modeling. In George A Marcoulides (Ed.), Methodology for business and management. Modern methods for business research (pp. 295–336). Lawrence Erlbaum Associates Publishers.
Cialdini, R. B., Reno, R. R., and Kallgren, C. A. (1990). A focus theory of normative conduct: Recycling the concept of norms to reduce littering in public places. Journal of Personality and Social Psychology, 58(6), 1015–1026. https://doi.org/10.1037/0022-35188.8.131.525
Cialdini, R.B., Kallgren, C. A., and Reno, R. R. (1991). A Focus Theory of Normative Conduct: A Theoretical Refinement and Reevaluation of The Role of Norms in Human Behavior. Advances in Experimental Social Psychology,24, 201–234.
Cismaru, M., Cismaru, R., Ono, T., and Nelson, K.(2011). “Act on Climate Change”: An Application of Protection Motivation Theory. Social Marketing Quarterly, 17(3), 62-84
Dholakia, U. (2020). Why are we panic buying during the coronavirus pandemic? To alleviate fear and anxiety, to mimic others, and to react to future scarcity. Psychology Today. https://www.psychologytoday.com/us/blog/the-science-behind-behavior/202003/why-are-we-panic-buying-during-the-coronavirus-pandemic. Accessed: 2 March 2020
Fishbein, M. and Ajzen, I. (1975). Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research. Massachusetts: Addison-Wesley Publishing Company, Inc.
Fishbein, M. and Ajzen, I. (2010). Predicting and Changing Behavior: The Reasoned Action Approach. New York Hove: Psychology Press Taylor and Francis Group.
Fishbein, M. and Middlestadt, S. (1995). Noncognitive Effects on Attitude Formation and Change: Fact or Artifact? Journal of Consumer Psychology, 4(2), 181–202. https://doi.org/10.1207/s15327663jcp0402_05
Fornell, C. and Larcker, D. F. (1981). Structural Equation Models with Unobservable Variables and Measurement Error: Algebra and Statistics. Journal of Marketing Research, 18(3), 382–388.
Gist, M. E., and Mitchell, T. R. (1992). Self-efficacy: a theoretical analysis of its determinants and malleability. TheAcademy of Management Review, 17(2), 183–211.
Gross, J. J. (1998). Antecedent-and response-focused emotion regulation: Divergent consequences for experience, expression,
and physiology. Journal of Personality and Social Psychology, 74(1), 224-237. doi:10.1037/0022-35184.108.40.206
Gross, J. J. (2002). Emotion regulation: Affective, cognitive, and social consequences. Psychophysiology, 39(3), 281-291.
Gross, J. J. (2014). Emotion regulation: Conceptual and empirical foundations. In J. J. Gross (Ed.), Handbook of emotion regulation (2nd ed., pp. 3-20). New York, NY: Guilford Press.
Gupta, S., and Gentry, J.W. (2019). ‘Should I Buy, Hoard, or Hide?’- Consumers’ responses to a perceived scarcity. The International Review of Retail, Distribution, and Consumer Research, 29(2), 178–197
Hair, J. F., Black, W. C., Babin, B. J., and Anderson, R. E. A. (2010). Multivariate Data Analysis (7th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Hamidi, H., and Jahanshaheefard, M. (2019). Essential factors for the application of education information system using mobile learning: a case study of students of the university of technology. Telematics and Informatics, 38, 207–224. doi: 10.1016/j. tele.2018.10.002
Hendrian dan Patiro, S. P. S. (2019). Faktor-faktor Psikologis Penentu Niat Ibu-ibu Rumah Tangga Di Indonesia Untuk Membeli Produk Tiruan/palsu. MIX: Jurnal Ilmiah Manajemen, 9(1), 88-108
Heuven, E., and Bakker, A. B. (2003). Emotional dissonance and burnout among cabin attendants. European Journal of Work and Organizational Psychology, 12(1), 81–100.
Heuven, E., Bakker, A. B., Schaufeli, W. B., and Huisman, N. (2006). The role of self-efficacy in performing emotion work. Journal of Vocational Behavior, 69(2), 222–235.
Iacobucci, D., Gilbert, A., and Churchill, J. (2018). Marketing Research: Methodological Foundations (12th ed.). Nashville, TN: Earlie Lite Books, Inc.
Julianti, A. (2020). Kecemasan dan Pembelian Impulsif Pada Saat Pandemi Covid-19. UG Jurnal, 14(12), pp. 23-31
Kabra, G., Ramesh, A., Akhtar, P., and Dash, M. K. (2017). Understanding behavioural intention to use information technology: insights from humanitarian practitioners. Telematics and Informatics. 34(7), 1250–1261. doi: 10.1016/j.tele.2017.05.010
Kim, H. J., Lee, J. M., and Rha, J. Y. (2017). Understanding the role of user resistance on mobile learning usage among university students. Computers and Education, 113, 108–118. doi: 10.1016/j.compedu.2017.05.015
Koole, S. L. (2009). The psychology of emotion regulation: An integrative review. Cognition and Emotion, 23(1), 4-41.
Lazarus, R. S., and Folkman, S. (1984). Stress, appraisal, and coping. New York: Springer.
Leach, J. (1994). Survival Psychology. Berlin/Heidelberg, Germany: Springer.
Li, S., Wang, Y., Xue, J., Zhao, N., and Zhu, T. (2020). The impact of COVID-19 epidemic declaration on psychological consequences: A study on active Weibo users. International Journal of Environmental Research of Public Health, 17(6), 1–9.
Ltifi, M., and Gharbi, J. (2012). E-Satisfaction and E-Loyalty of Consumers Shopping Online. Journal of Internet Banking and Commerce, 17(1), 1–20.
Luszczynska, A., Dona, B. G., and Schwarzer, R. (2005). General Self Efficacy in Various Domains of Human Functioning: Evidence from Five Countries. International Journal of Psychology, 40(2), 80–89.
Luszczynska, A. and Schwarzer, R. (2005). Social cognitive theory. In Predicting and changing health behavior: Research and practice with social cognition models (pp. 127–169). Open University Press.
Mccormick, M. J., and Martinko, M. J. (2004). Identifying leader social cognitions: Integrating the causal reasoning perspective into social cognitive theory. Journal of Leadership & Organizational Studies, 10(4), 2–11.
Middleton, L., Hall, H., and Raeside, R. (2019). Applications and applicability of Social Cognitive Theory in information science research. Journal of Librarianship and Information Science, 51(4), 927–937.
Namkung, Y., and Jang, S. C. (Shawn). (2010). Effects of perceived service fairness on emotions, and behavioral intentions in restaurants. European Journal of Marketing, 44(9/10), 1233–1259. https://doi.org/10.1108/03090561011062826
Nikou, S. A., and Economides, A. A. (2017). Mobile-based assessment: investigating the factors that influence behavioral intention to use. Computers and Education, 109, 56–73. doi: 10.1016/j.compedu.2017.02.005
Nunnally, J. C., and Bernstein, I. H. (1994). Psychometric Theory (3rd ed.). New York: McGraw Hill.
Nyer, P. (1997). A Study of the Relationships between Cognitive Appraisals and Consumption Emotion. Academy of Marketing Science Journal, 25(4), 296–304.
Park, Y., Son, H., and Kim, C. (2012). Investigating the determinants of construction professionals’ acceptance of web-based training: an extension of the technology acceptance model. Automation in Construction, 22, 377–386. doi: 10.1016/j. autcon.2011.09.016
Patiro, S. P. S., Dharmmesta, B. S., Nugroho, S. S., and Sutikno, B. (2016). Extended Theory of Planned Behavior as Model of Anabolic-Androgenic Steroid Use by Indonesian Bodybuilders. Journal of Indonesian Economy and Business, 31(1), 102–126.
Patiro, S. P. S. and Budiyanti, H. (2016). The Theory of Planned Behavior, Past Behavior, Situational Factors, and Self Identity Factors Drive Indonesian Entrepreneurs to be Indebtedness. DeReMa (Development Research of Management) Jurnal Manajemen, 11(1), 46–66.
Patiro, S. P. S., and Sihombing, S. (2014). Predicting Intention to Purchase Counterfeit Products: Extending The Theory of Planned Behavior. International Research Journal of Business Studies, 7(2), 109–120.
Rahman, R., and Wirayani, P. (2020). Indonesia stock index plunges to a three-year low amid virus fears. The Jakarta Post. https://www.thejakartapost.com/news/2020/02/27/indonesia-stock-index-plunges-to-three-year-low-amid-virus-fears.html. Accessed 15 Maret 2020.
Rana, N. P., and Dwivedi, Y. K. (2015). Citizen’s adoption of an e-government system: validating extended social cognitive theory (SCT). Government Information Quarterly, 32(2), 172–181.
Ratcliffe, R. (2020). Singapore’s Cramped Migrant Worker Dorms Hid Covid-19 Surge Risk. The Guardian. https://www.theguardian.com/world/2020/apr/17/singapores-cramped-migrant-worker-dorms-hide-Covid-19-surge-risk. Accessed 04 May 2020.
Ratten, V. and Ratten, H. (2007). Social cognitive theory in technological innovations. European Journal of Innovation Management, 10(1), 90–108.
Reuters. (2020). Indonesia confirms the first cases of coronavirus. Bangkok Post. https://www.bangkokpost.com/world/1869789/indonesia-confirms-first-cases-of-coronavirusaccessed 2 March 2020
Roy, D., Tripathy, S., Kar, S. K., Sharma, N., Verma, S. K., and Kaushal, V. (2020). Study of Knowledge, Attitude, Anxiety & Perceived Mental Healthcare Need in Indian Population during COVID-19 Pandemic. Asian Journal of Psychiatry, 51, 1-7
Safitri, K. (2020). "Rupiah Tembus Rp 15.000 Per Dollar AS, Terlemah Sejak Oktober 2018. Kompas. Com. https://money.kompas.com/read/2020/03/17/104545226/rupiah-tembus-rp-15000-per-dollar-as-terlemah-sejak-oktober-2018?page=all, Accessed: 17 March 2020.
Salisbury, W. D., Chin, W. W., Gopal, A., and Newsted, P. R. (2002). Research report: Better theory through measurement - Developing a scale to capture consensus on appropriation. Information Systems Research, 13(1), 91–103. https://doi.org/10.1287/isre.220.127.116.11
Schifter, D. E., and Ajzen, I. (1985). The intention, perceived control, and weight loss: An application of the theory of planned behavior. Journal of Personality and Social Psychology, 49(3), 843–851. https://doi.org/10.1037/0022-3518.104.22.1683
Schultz, P. W., Nolan, J. M., Cialdini, R. B., Goldstein, N. J., and Griskevicius, V. (2007). Research Article: The Constructive, Destructive, and Reconstructive Power of Social Norms. Psychological Science, 18(5), 429. https://doi.org/10.1111/j.1467-9280.2007.01917.x
Shadiqi, M. A., Hariati, R., Hasan, K. F. H., I’anah, N., dan Istiqomah, W. A. (2020). Panic buying pada pandemi COVID-19: Telaah literatur dari perspektif psikologi. Jurnal Psikologi Sosial, Retrieved from http://jps.ui.ac.id/index.php/jps/article/view/221
Singh, C. K., and Rakshit, P. (2020). A Critical Analysis to Comprehend Panic Buying
Behaviour of Mumbaikar’s in COVID-19 era. Studies in Indian Place Names, 40(69), 44–51.
Singh, P.and Bussey, K. (2011). Peer victimization and psychological maladjustment: The mediating role of coping self-efficacy. Journal of Research on Adolescence, 21(2), 420–433.
Sniehotta, F. F., J. Presseau, and V. Araújo-Soares. 2014. Time to retire the Theory of Planned Behaviour. Health Psychology Review 8(1), 1–7.
South China Morning Post. (2020). In “virus-free” Indonesia, outbreak fears stoke panic buying frenzy. Scmp.Com. https://www.scmp.com/week-asia/health-environment/article/3064819/coronavirus-indonesia-scrambles-find-first-patients. Accessed: 2 March 2020
Stead, M., McDermott, L., MacKintosh, A. M., and Adamson, A. (2011). Why healthy eating is bad for young people’s health: Identity, belonging and food. Social Science & Medicine, 72(7), 1131–1139.
Steven, D., O’Brien, E., and Jones, B. D. (2014). New Politics Strategic Resources: Energy and Food Security Challenges in the 21st Century. Washington, DC, USA: Brookings Institution Press.
Stok, F.M., DeVet, E., DeRidder, D.T.D., and DeWit, J. B. F. (2012). Minority talks: The inﬂuence of descriptive social norms on fruit intake. Psychology and Health, 27(8), 956–970.
Sulistyawati, Rr. L., and Alamsyah, I. E. (2020). Ini Alasan Terjadi Panic Buying Saat Pandemi Corona. Republika.Co.Id. https://republika.co.id/berita/q7lz7k349/ini-alasan-terjadiem-panic-buyingem-saat-pandemi-corona.Accessed: 2 March 2020
Tangney, J. P., and Fischer, K. W. (Eds.). (1995). Self-conscious emotions: The psychology of shame, guilt, embarrassment, and pride. New York: Guilford Press.
Taylor, R. K. (2000). Marketing Strategies: Gaining a Competitive Advantage through the Use of Emotion. Competitiveness Review, 10(2), 146–152.
Trafimow, D. 2009. The theory of reasoned action: A case study of falsification in psychology. Theory & Psychology 19(4), 501–518.
Tsao, Y.-C., Raj, P. V. R. P., and Yu, V. (2019). Product substitution in different weights
and brands considering customer segmentation and panic buying behavior. Industrial Marketing Management, 77, 209–220.
Wahyu, A. M., Zahra, A. C. A., Firdaus, M. I. F., dan Widyatno, A. (2021). Perilaku Panic Buying Mengiringi Kemunculan COVID-19? Sebuah Studi pada Awal Pandemi di Indonesia. Humanitas, 5(1), 76 – 98
Wang, Z., Liu, X., and Zhang, S. (2019). A new decision method for public opinion crisis with the intervention of risk perception of the public. Complexity, 1-14
Wang, C., Pan, R., Wan, X., Tan, Y., Xu, L., Ho, C.S., and Ho, R. . (2020). Immediate psychological responses and associated factors during the initial stage of the 2019 coronavirus disease (COVID-19) epidemic among the general population in China. International Journal of Environmental Research and Public Health, 17(5), 1–25.
Wesseler, J. (2020). Storage policies: Stockpiling versus immediate release. Journal of Agricultural and Food Industrial Organization, 18(1), 1–9.
White, C, and Yu, Y. T. (2005). Satisfaction Emotions and Consumer Behavioral Intentions. Journal of Services Marketing, 19(6), 411–420.
Wijaya, T. (2020). Factor Analysis of Panic Buying During the Covid-19 Period in Indonesia. Social Sciences and Humanity Open. ssrn: https://ssrn.com/abstract=3603750 or http://dx.doi.org/10.2139/ssrn.3603750 Accessed: 3 Juni 2020
Wilkens, J. (2020). Why We Hoard: Fear at Root of Panic-Buying, Psychologists Say. The San Diego Union-Tribune. https://www.sandiegouniontribune.com/news/health/story/2020-03-22/hoard-fear-panic-buying-psychology. Accessed: 3 March 2020
Williamson, K., and Williams, K. J. (2011). Organizational Justice, Trust, and Perceptions of Fairness in The Implementation of Agenda for Change. Radiography, 17(1), 61–66.
Young, H. N., Lipowski, E. E., and Cline, R. J. W. (2005). Using social cognitive theory to explain consumers' behavioral intentions in response to direct-to-consumer prescription drug advertising. Research in Social and Administrative Pharmacy,1(2), 270-288.
Zhang, Y., Fang, Y., Wei, K-K., and Wang, Z. (2012). Promoting the intention of students to continue their participation in eLearning systems: the role of the communication environment. Information Technology & People, 25(4), 356–375.
Zheng, R., Shou, B., and Yang, J. (2020). Supply disruption management under consumer panic buying and social learning effects. Omega. 102238, in the press, https://doi.org/https://doi.org/10.1016/j.omega.2020.102238
- There are currently no refbacks.
Copyright (c) 2022 Gadjah Mada International Journal of Business
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.