Can the Memory Trail Tell a Story to Anticipate the Future Panic Buying Behavior of Elderly Consumers? A Mixed Methods Approach

Authors

  • Subhajit Bhattacharya XIM University, India
  • Arijit Das XLRI, Jamshedpur, India
  • Arunava Dalal University of Engineering and Management, Kolkata, India

Keywords:

Elderly Consumers, Panic Buying Behavior, COVID-19 memories, Mixed-Method Study, Qualitative Methods, RIDIT

Abstract

This study examines why elderly customers in developing countries tend to buy more goods than they need during crises, often called panic buying. We used a mixed-methods approach, including interviews with elderly consumers in emerging markets and analyzing their past experiences during crises. Our study identified several aspects contributing to panic buying among elderly consumers, including anxiety, fear, concern for family, feelings of scarcity, peer influence, media exposure, and price sensitivity. The broad variables that influence elderly consumers to engage in panic buying are found to be psychological, environmental, economic, and social. Policymakers and marketing organizations in developing countries can use this study's findings to gain better insights into the variables contributing to panic buying among senior citizens. By monitoring their thoughts and interactions during future crises, marketers can improve their ability to target senior customers. This study can also help identify areas of concern and pain points, enabling marketers to enhance satisfaction among elderly consumers.

Author Biographies

  • Arijit Das, XLRI, Jamshedpur, India

    Arijit Das is a doctorate scholar of XLRI, Jamshedpur, India. He holds a B.E. from Jadavpur University, West Bengal, and an M. Tech from IIT Kharagpur, West Bengal. He has work experience as an Assistant Professor in the Department of Electrical Engineering at ST. Thomas’ College of Engineering and Technology, West Bengal. His research interests include Consumer Behavior, Brand Management, Sustainable Marketing, and Marketing Literacy. He presented multiple papers at different conferences, including IEEE.

  • Arunava Dalal, University of Engineering and Management, Kolkata, India

    Arunava Dalal works at the University of Engineering and Management in Kolkata as an assistant professor. Prof. Dalal has worked in corporate for sixteen years. His papers have been published in international journals and are listed in ABDC, Web of Science, and SCOPUS. He is interested in how people act as consumers, how to market services, and how to market in a way that is good for the environment.

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2024-05-08

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Special Issue: Senior Consumers and CS/D&CB. Editors: Norbert Meiners and George W. Leeson.