What is it about?
The Covid-19 pandemic has ushered in a new age in the world. We are still grappling with the implications in various areas of our everyday lives. The impulsive buying habits of consumers, the supply chain, and the whole industry are not exceptions.
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Why is it important?
Consumers and supply chains were both unprepared during the early stages of the novel coronavirus pandemic. The procurement of utilitarian products was referred to as panic buying. The study examined using exploratory studies on several individuals in the eight selected Islamic countries who have been panic buying in coronavirus-affected areas and have faced regional constraints. The data apply on exploratory factor analysis (EFA) in eight selected Islamic countries, three hundred samples finally selected, and a good number of volunteers supported this study. The results have shown that a drastic financial effect on the economy where purchasing power and remittance inflow declined, inflation goes up and precaution for lockdown, whereas impulsive buying goods tendency increased due to misinformation, and panic buying immensely impact in the economy. The decision-making process has shifted, preventing financial burdening, rising saving patterns, and unwelcoming unhealthy consumption. Moreover, visible psychological distress, depression, anxiety, and post-traumatic stress. These studies concluded with a policy recommendation providing the results.
Perspectives
Writing this article was a great pleasure as it has co-authors with whom I have had long-standing collaborations. This article also leads to rare disease groups contacting me and ultimately to greater involvement in rare disease research. Appreciate a great number of volunteer support this study. I hope this article makes what people might think is a boring, slightly abstract area like health economics, consumer purchasing behavior, and measuring things like health, kind of interesting and maybe even exciting.
MOHAMMAD MUSHFIQUL HAQUE MUKIT
Western Illinois University
Read the Original
This page is a summary of: The Economic Influence on Consumers Buying Behavior in Islamic Countries: Evidence from the COVID-19 Economic Crisis, ECONOMICS, June 2021, De Gruyter,
DOI: 10.2478/eoik-2021-0003.
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