The big five personality traits as antecedents of panic buying

Abstract

This study aims to analyse the effects of personality traits as antecedents of panic buying. In extraordinary periods, certain behavioural changes could be observed in individuals, and panic buying behaviour could occur for specific products or product groups. The theoretical framework of the concept of panic buying comprises various theories, including individual and socio-psychological backgrounds. In line with the main objective of this study, the concept of panic buying is addressed in the light of theories that elaborate on individual factors. Even though there are many factors affecting panic buying, there is a limited number of studies discussing the subject within the context of personality traits, which are among the individual factors. In this study, data were acquired from 852 participants in Turkey by applying the questionnaire technique as a quantitative research method. The Big Five Personality Traits, one of the significant theories in measuring personality traits, are selected as the baseline. This study used the «The Big Five Inventor» scale. On the other hand, the «Panic Buying Scale» was applied in the measurement of panic buying. Data analysis was conducted through confirmatory factor analysis and structural equation modelling. Upon evaluating the findings, it was concluded that agreeableness (one of the five major personality traits) has a statistically significant and negative impact on panic buying. In contrast, neuroticism has a significant and positive effect. The more individuals have high agreeableness personality traits, the more panic buying decreases. Besides, the trait of high neuroticism causes an increase in panic buying. No significant effect of extraversion, conscientiousness, and openness personality traits on panic buying was determined. The findings indicate the effects of personality traits on the individual causes of panic buying behaviour. It is anticipated that this study will fill the relevant gap in the literature concerning considering personality traits as an antecedent of panic buying in the context of Turkish participants and examining both individual characteristics and cultural effects. Understanding the basic motivations of individuals regarding panic buying behaviour is of utmost importance for correctly managing the processes for similar extraordinary periods that may occur again in the future and for taking the necessary precautions.