Do memories, such as of Hurricane Katrina for example, influence consumer behavior?
Absolutely, or for older consumers, it might trigger memories of the gas lines in the 1970s, or going back even farther, the scarcities of many household staples during the Great Depression and World War II. The feeling of desperation and lack of control that is instilled in those situations stays with a consumer and can promote hoarding tendencies whenever a similar situation arises afterward. How do the media fuel irrational consumer behavior? Media accounts inform consumer behavior. The media may stimulate consumer concern by carrying the message that supply is tightening up or that purchase quantities are being limited. This can ignite the scarcity fears in a few consumers, who then head to the gas stations. This creates a small line, which then becomes newsworthy. Other consumers hear media accounts of the diminished supply and now the line, and they then run to get in line as well. The line lengthens, and this becomes even more newsworthy. And so on. Is this a phenomenon that is
