Factor Analysis of Panic Buying During the Covid-19 Period in Indonesia

This article describes the impact of the COVID-19 outbreak on consumer behavior in Indonesia. This article discusses the factors that shape panic buying behavior due to COVID-19 in Indonesia. The study was conducted using exploratory studies on several people who behaved panic buying in areas affected by COVID-19 and experienced regional restrictions. The study begins with a focus group discussion, then continues with a survey using a questionnaire. Data analysis uses Exploratory Factor Analysis (EFA). The results obtained are then resumed with a focus group discussion to name the reduced factors. The results showed that the factors that formed panic buying behavior were an information and knowledge factor, a family considerations, a conditional or influence effect from other people, and a risk avoidance factor. These results provide the findings of the factors forming panic buying and the implications of suggestions for the government to educate the public with various media and prevent misinformation that can cause panic in buying behavior.