Does Social Media Exposure Shape Consumer Response in the Form of Panic Buying?

This study examines the impact of social media exposure on panic buying behavior related to health and personal care products during the COVID-19 pandemic, with a focus on the mediating role of anxiety. Using a sample of 433 Indian consumers and structural equation modeling, the research finds that social media exposure directly increases panic buying and also indirectly influences it through heightened anxiety, demonstrating partial mediation. The study applies Social Proof Theory, the Stimulus–Organism–Response (S–O–R) model, and the Behavioral Inhibition System (BIS) theory to explain how social media acts as a stimulus that triggers anxiety and subsequent panic buying. Findings suggest that policymakers should regulate social media content to reduce misinformation and anxiety, and implement measures such as purchase limits during crises to mitigate panic buying. The research is limited to health and personal care products and urban, tech-savvy populations, indicating scope for broader future studies.