Factors affecting panic buying during the COVID-19 lockdown in Bangladesh

Panic buying (PB) due to a stressful situation can be observed in different countries during the pandemic time of Coronavirus Disease 2019 (COVID-19), including Bangladesh. This study aimed to evaluate the association between PB and socio-demographic characteristics during the lockdown and identify the factors associated with levels of PB in Bangladesh.

An online survey was conducted using a convenience sampling technique from June 30, 2020, to August 30, 2020. In this study, a sample of 352 participants was selected from an infinite population. Descriptive statistics were used to describe the participants’ characteristics, and the chi-square statistic was used to assess associations. Multinomial logistic regression analysis was conducted to identify factors associated with PB levels.

Findings indicated that earning status, secondary and higher education, and students were more likely to engage in moderate PB during the pandemic situation. However, this study revealed that participants practiced PB more frequently (34.39%) in the Dhaka division and had done so in an emergency. The study’s findings also found that medium knowledge and stressful events, including depression and fear, were significantly associated with extreme PB during the COVID-19 lockdown in Bangladesh.

The study’s findings would help understand levels of PB towards emergency response for human survival. This study may help to improve the circumstances surrounding PB, enabling the general public to think critically and understand the situation.