Panic Buying in Hungary During Covid-19 Pandemic

The study examines buyers’ behavior in Hungary during COVID -19 pandemic based on a non-representativeonline questionnaire that was carried out during the time of lockdown in Hungary in March 2020. We would liketo find out whether there was really accumulation of goods, and if so, which product rang...

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Bibliographic Details
Published in:Theory, methodology, practice methodology, practice, 2021-01, Vol.17 (1), p.53-65
Main Authors: Sikos T., Tamás, Papp, Vanda, Kovács, András
Format: Article
Language:English
Subjects:
Buying
Cluster analysis
COVID-19
customer behavior
Customers
hungary
Pandemics
Panic
panic buying
Shopping
spatial differences
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Summary:The study examines buyers’ behavior in Hungary during COVID -19 pandemic based on a non-representativeonline questionnaire that was carried out during the time of lockdown in Hungary in March 2020. We would liketo find out whether there was really accumulation of goods, and if so, which product ranges were involved. Howdid the outbreak of COVID-19 change shopping behavior? In which direction did it move and could retail tradereact to the unexpected, rapid challenge of going online? Can the respondents be identified with the traditionalbuying behaviour pattern and can it be typified with it? In our study we provide an overview of the anomaliesdetected in the Hungarian “panic buying” concerning shopping frequency, spending and product avoidance. First,we introduce the main behavioral patterns of shoppers during the “panic buying period” in Hungary, then wedraft different types of customers. Second, we highlight some statistically significant relations with regionalaspects. Here connections are identified between shopping frequency, spending, stock piling and the places ofresidency of the surveyed people. Third, we categorised customers into five groups with cluster analysis. The maincluster forming differences are the altered sense of well-being and the attitude differences in stock piling.
ISSN:1589-3413
2415-9883
DOI:10.18096/TMP.2021.02.06