An analysis of the relationship between risk perceptions and willingness‐to‐pay for commodities during the COVID‐19 pandemic

Abstract

The novel coronavirus disease of 2019 (COVID-19) has had a significant impact on the global retail market. Nonetheless, consumers will eventually return to the market once the pandemic is effectively controlled.

Rise of Mental Sub-Health Consumers: Examining the Compulsive Buying Behavior in the Post-COVID-19 Era

“…By conducting a multigroup analysis, we find that the relation between anxiety and compulsive buying can be enhanced by utilitarian products, while the relation between fear appeal and compulsive buying is strengthened by hedonic products. The special outcomes of the moderating effect of utilitarian products stem from life-saving purchase decisions and are consumed for the problem-solving purpose (O. Li & Qian, 2022).…”

“…The special outcomes of the moderating effect of utilitarian products stem from life-saving purchase decisions and are consumed for the problem-solving purpose (O. Li & Qian, 2022). It is worth noting that the relationship between loneliness and compulsive buying is not significant for different product types.…”

“…Li et al, 2021). In COVID-19 circumstances, people preferred utilitarian products based on problem-focused strategy coping with awe (e.g., threat, anxiety, and risk) (O. Li & Qian, 2022; Y.…”

The interplay between framing effects, cognitive biases, and learning styles in online purchasing decision: lessons for Iranian enterprising communities

“…Also, results of studies investigating how awe affects consumers’ decisions on food choices revealed that consumer preferences for healthy versus unhealthy products improve with the experience of awe (Cao et al , 2020). At a cognitive-conceptual level, awe differs from other emotions, is characterized by cognitive accommodation and elicited only by information-rich stimuli (Cao et al , 2020) and buffers individuals against losing their possessions (Koh et al , 2019), the effect of risk events on awe is driven by risk perceptions (Li and Qian, 2022) compared with neutral emotion, increases consumers’ likelihood to choose healthy products over unhealthy products because the observed awe effect is driven by consumer processing styles, which increase reliance on analytical processing, thus, leading consumers to prefer healthy products. Consumers with a chronic intuitive rather than analytical processing style are more likely to be influenced by experiences of awe (Cao et al , 2020).…”

Pandemics and consumers' mental well‐being

“…In contrast, research that focused more on generalized or positive influences of the pandemic examined such topics as specific types of consumption behaviors and corresponding changes during the pandemic, including online physical activity behaviors (Cronshaw, 2022 ), food and beverage consumption (Jaud & Lunardo, 2022 ), and effects on sustainable consumption (Hüttel & Balderjahn, 2022 ). Other papers focused more on consumers' psychological responses to the pandemic including risk perceptions and consumer purchase behavior (Li & Qian, 2022 ) and goal orientation effects on well‐being (Sonmez, 2022 ). Articles in this special issue also examined morality based consumer responses including religion versus escape behaviors on life satisfaction (Ekici & Watson, 2022 ), religiosity's influence on service failure response and emotional well‐being (Sarofim et al, 2022 ), and mortality salience and altruism (Jin & Ryu, 2022 ).…”