Do people change their buying behavior during crises? Insights from the COVID-19 pandemic in Sri Lanka

Abstract

Due to the recent COVID-19 pandemic, panic buying occurs in several nations, including Sri Lanka, which causes shortages of merchandise, problems with supply chains, and numerous issues with daily life for individuals. Especially in the setting of Sri Lanka, this is a very new and uncharted area of consumer behavior. As a result, the objective of this study is to investigate the panic buying patterns of consumers in relation to Fast Moving Consumer Goods (FMCG) during the COVID-19 pandemic's height in Sri Lanka.The study employed a qualitative methodological approach due to the dearth of existing literature and the desire to unearth real customer insights. In the Western Province of Sri Lanka, interviews that were semi-structured with 25 individuals were conducted. Individuals were chosen using a non probabilistic purposive sampling method. Thematic analysis was used to analyze the data. The study discovered that during the COVID-19 pandemic, particularly at the start of the pandemic period, customers' usual buying habits changed. Regarding purchasing quantity, mode of purchase, price-sensitive shopper, purchasing duration, purchasing location, and brand preference, seven basic variations were identified. In addition, four themes—fear of dread, protective behaviors, social influence, and social trust—were developed as explanations for why FMCG consumers engage in such panic buying. By finding changes in consumer purchasing behavior, especially in a pandemic condition, and the reasons for such changes, which is a rare phenomenon in the prior literature, the study provides new insights.The study provides authorities insight into the best ways to cope with circumstances where people are panic buying. Without interfering with their internal business procedures, retailers can use this expertise to efficiently address the various demand situations.