Essential item purchases during COVID-19: A cluster analysis of psychographic traits

Abstract

ABSTRACT This research seeks to profile consumer segments formed during the COVID-19 pandemic via a set of psychographic consumption traits: Narcissism, Psychological Entitlement, Status Consumption, Fear of Embarrassment, and Fear of Missing Out. Based on a cluster analysis of 281 consumers, the data generated four distinct groups: Egalitarians, Agentic Egoists, Communal Egoists, and Conformists. Further, we compared the segments in their acquisition behavior as it pertains to importance of purchase, quantity of purchase, sharing of purchase, and willingness to pay for essential items. Our results showed that each cluster was associated with a unique set of consumer preferences. For instance, Egalitarians placed less importance on medical items. Conformists placed greater importance on acquiring disposable masks than others. Communal Egoists were interested in food-related items such as bottled waters and snacks. Agentic Egoists reported that they would spend more money on cold/cough medicines than Egalitarians and Conformists. Overall, our findings provide key insights and recommendations to retail managers. Some limitations include our sampling approach (i.e. US consumers) and determining clusters based on select psychographic traits. We acknowledge that there are other characteristics that can differentially influence consumers’ acquisition behavior during the pandemic.