The Effect of Social Influence on Consumer Behavior during the COVID-19 Epidemic: A Social Psychology Perspective

Abstract

Introduction The COVID-19 epidemic has triggered radical shifts in consumer habits. To make sense of these transformations, it is essential to appreciate the significance of social impact.

Objectives This research uses social psychology to investigate how peer pressure affected people's buying habits throughout the pandemic. An online survey was administered to 4783 participants over 65 years during the first peak period of the COVID-19 contagion in European.

Methods The survey collected data on CB toward requisites and non-requisites, as well as various psychological factors, including anxiety, COVID-related fear, depression, personality traits, perceived economic stability, and self-confirmations for purchasing. Statistical analyses, including regression models, were conducted to examine the associations between these variables.

Results The study found that the COVID-19 epidemic had a significant effect on CB, leading to higher spending and a shift in the desire to buy both essentials and luxuries. However, it is important to note that the study only used a non-clinical sample, and more research on dysfunctional CB is needed.

Conclusions The research also highlighted the significance of thinking about contextual elements and the possibility for CB to change over time. Nonetheless, the findings of this study shed light on CB in times of health crisis, which is useful for planning ahead.