Panic consumption under public health emergencies: The mediating role of risk perception

Abstract

Aim The primary objective of this study was to examine and explain the public panic consumption model based on the stimulus–organism–response theory, during the peak time period of the COVID-19 pandemic in China. Subject and methods The research data were collected through the questionnaires adapted for the purpose of this survey, which included a total of 408 participants (33% female) from the global population. The stepwise regression analysis has been conducted. Results The results have shown that both physical social networks and online social networks have a significant positive impact on infection risk perception, but the impact of physical social networks has proved to be a better predictor. Infection information obtained from physical social networks affects conformity buying and uncontrolled self-medication if the perceived risk perception is higher. When it comes to the impact of risk perception on conformity buying, health change has a significant negative regulatory effect. In the impact of risk perception on the uncontrolled self-medication, health change has no significant regulatory effect. Conclusions During the recent epidemic states, it is noticeable that public panic consumption has aggravated the difficulty of emergency management. Especially when it comes to the management of medical materials and medicines. In order to tackle this challenge in the future, the trigger mechanisms behind panic consumption are revealed.