The Cause and Cost of Panic Buying During Emergencies and What Rational Preppers Are Buying

I am from a small city in Atlantic Canada. A friend of mine from high school posted a picture from one of our two Walmart stores showing barren shelves where toilet paper, paper towel, and wipes are normally plentiful.

Today we decided to go into town and purchase some essential items (non-perishable goods), in case our city ends up on lock-down. The parking lot was full, the grocery store was like I’ve never seen it before, it was very busy.

When we made it to the toilet paper aisle to get paper towel, there was a lady taking every package of toilet paper left on the shelf and shoving them in her cart like a madwoman. She was practically frothing at the mouth.

She was panic buying. My husband commented that he could literally see the desperation on her face.

What is panic buying and why do people do it?

Panic buying is when people buy copious amounts of items before, after, and during a time of national or international crisis. People may panic buy in anticipation of a shortage of goods.

Panic buying happens a lot in my area of Canada. Whenever there is a snowstorm or even reports of a possible blizzard, the stores are crowded with people, cashiers are busy, and there have been salt and sand shortages after a blizzard in the past.

This type of panic buying is insignificant compared to what is going on in the world right now. Reports from Malaysia indicate that hand sanitizer sales have risen 800% in the last two weeks.

People are terrified to be left without goods. Every time we open Facebook and see empty shelves and announcements of more closures, it adds to the panic we are all feeling.

Social media definitely has had an impact on everyone’s spending habits this week. I felt the need to panic buy after seeing our Walmarts were sold out of toilet paper, but I resisted that urge and bought a rational amount of items.

Panic buying helps people feel in control of the situation. Steven Taylor, a professor and clinical psychologist at the University of British Columbia, and the author of The Psychology of Pandemics” has some interesting insight as to why people panic buy.

“Under circumstances like these, people feel the need to do something that’s proportionate to what they perceive is the level of the crisis,” Taylor says. “We know that washing your hands and practicing coughing hygiene is all you need to do at this point.

“But for many people, hand-washing seems to be too ordinary. This is a dramatic event, therefore a dramatic response is required, so that leads to people throwing money at things in hopes of protecting themselves.”¹

Panic buying is fear-based, hoarding behavior. There is no need for someone to have 18 packages of toilet paper. However, people are trying to make themselves feel better by being prepared.

But at what cost?

The Consequences of panic buying

Panic buying can be a self-fulfilling prophesy. When people buy too much of one item, the supply plummets, and then there is an actual shortage. This why people need to control themselves, look at what they really need, and concentrate on preventative measures regarding the virus.

When people overbuy and hoard items, this will lead to prices of items rising because of supply and demand. This is why your 20-roll package of Scott toilet paper is now $40.00 at Walmart.

When the prices of items go up, it can take years for them to go back down. Depending on the commodity, the price may remain high.

Panic buying VS adequate preparation

The empty shelves we are seeing is because people were anxious and unprepared when they “stocked up”. There is a big difference between panic-buying and preparing for an emergency.

When people properly prepare for a lock-down or natural disaster, they buy essential items that will not go bad in the event of a power outage or extended lock-down. They do not buy their fellow humans out of hygiene products.

My husband is in the military and is very interested in doomsday prepping so he helped me make our grocery list.

The rational thing to do is make a list of the items you normally buy, plus enough non-perishable food items for a few weeks, not a few months. I always make my list in the order of that our grocery store is set up, this way you’re not jumping from isle to isle in a crowded area.

For example:

• Water (we use water cooler bottles and refill them, so three 18 litre bottles)
• Dried fruit and nuts
• Canned items, pasta and a big bag of rice
• peanut butter, instant coffee, powdered milk, Nutella, granola bars
• oatmeal and cereal
• Pasta sauces, butter (it freezes well), spices
• Meat and beans
• Potatoes and other root vegetables, keep them in a dark cool place to prevent sprouting.
• Pet food and treats
• Paper towels and tissue
• Personal hygiene products like shampoo, shaving cream, razors, toothpaste, a reasonable amount of toilet paper for the size of your family, and anything else you will need to replenish in the next two weeks.
• Refill any prescriptions and make sure you have a working thermometer, Advil or Tylenol, and any other OTC meds that you need.
• If you have a little one: Diapers, wipes, diaper rash cream, formula, and replacement soothers.
• Fill your car with gas, get gas for your snow blower or lawnmower.
• You can make hand sanitizer with aloe vera gel and isopropyl alcohol.

Rational buying is like prepping for a camping trip but on a greater scale. I have a feeling most panic buyers didn't make a list and panicked when they were shopping, grabbing anything they could in multiples. Really, this probably happened to more rational people than we realize.

When people panic buy while shopping, they cheat others out of getting something they really need. It breaks my heart to see the pictures of seniors buying Kleenex for toilet paper because someone decided they needed to buy 7 packages of toilet paper.

As a result of people panic buying toilet paper, the prices have already risen and will continue to rise. We could end up paying the higher cost for a number of years.

So when you’re shopping for goods this weekend, take my advice into consideration, always make a list, and wash your hands well after you come home.

Stay safe everyone!

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[1]: (Bryan Lufkin) Coronavirus: The psychology of panic buying. (March 4, 2020) https://www.bbc.com/worklife/article/20200304-coronavirus-covid-19-update-why-people-are-stockpiling

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Amy Cottreau is a freelance writer who hails from a small city in Atlantic Canada. She enjoys interacting with fellow writers, dreaming of ideas for her next article, and researching a myriad of topics.