Understanding how social media posts affect panic buying behavior: the lens of elaboration likelihood model and scarcity theory

Purpose This study investigates the impact of social media posts on panic buying behavior while also examining the moderating role of the posts’ attention level and exploring the mediating effects of perceived credibility, perceived risk and perceived scarcity. Design/methodology/approach Building upon the elaboration likelihood model and scarcity theory, this study examines the impacts of numerical presentation and posting account type on panic buying behavior and explores their underlying mechanisms. To test our hypotheses, we conducted two online randomized experiments and employed t -tests and regression analysis as the main analytical methods. Findings Our findings highlighted the significance of incorporating precise numerical information and utilizing institutional accounts to enhance users’ perceptions of scarcity and credibility, thereby inducing panic buying behavior. Moreover, posts from institutional accounts were also found to amplify users’ perceived risks. Additionally, we discovered that the impacts of both numerical presentation and posting account type were negatively moderated by the posts’ attention level. Originality/value While previous research has acknowledged the impact of social media posts on panic buying behavior, it has overlooked the identification of specific attributes within these posts that may exert influence as well as neglected to consider the mediating role of user attitudes. This study contributes to the existing literature by elucidating the underlying mechanisms through which three distinct characteristics of social media posts impact panic buying behavior, thereby providing practical insights for effectively managing social media content and mitigating panic buying.