Turning the tide on panic buying: how resale opportunities reduce product demand
摘要
During crises such as pandemics, consumers often engage in panic buying, hoarding more products than they need. Such behavior can disrupt supply chains and lead to substantial social resource losses. Yet identifying effective interventions to alleviate panic buying remains challenging. In this paper, we examine the impact of providing resale opportunities on consumers’ panic buying behavior. Across six experiments, we show that resale opportunities reduce consumer demand for essential goods by lowering perceived scarcity and increasing social consideration. While addressing either mechanism alone can partially mitigate panic buying, addressing both simultaneously produces stronger effects. These findings highlight the joint role of perceived scarcity and social consideration in driving panic buying and offer important implications for retailers and policymakers.