The Impact of Chinese Consumers' Perception of Scarcity of Goods on Their Consumption Behavior

Abstract

Chinese people have been repeatedly isolated in the nearly three years of the epidemic, and after the end of Covid-19 in China, the number of large-scale events such as concerts with a large number of people increased sharply. As a result, people's desire to buy tickets became urgent, which led to the scarcity of tickets. In this study, the authors used two questionnaire surveys to study the behavior of Chinese consumers in the face of the scarcity of concert tickets. The authors found that after tickets were sold, Chinese consumers became more anxious and were more willing to pay tens of times more for tickets than the original price since they feel that tickets were scarcer after selling, and their anxiety levels also vary depending on which social media is used most frequently. Therefore, this research paper could help Chinese merchants better understand the psychology of Chinese consumers to some extent, thus helping them design better sale strategies that can promote consumption.