Why Panic Buying Is Not Actually Helpful
Toilet paper, hand sanitizer, protective masks, Tylenol, flour and so many other items have suddenly become hot commodities as most Americans hunker down at home during the coronavirus pandemic. This has left many people shopping in bulk as they attempt to be prepared not just for a possible two-week quarantine but for months—just in case. You’ve seen the empty shelves at the stores across the country. You’ve also likely seen the pictures of people’s garages stuffed with supplies, so if you find it, you’re going to buy it. After all, if you don’t, someone else will, you’ll be left with nothing and then what will happen? Stop right there…and breathe. You’re panicking, and that’s causing you to engage in some aptly termed “panic buying.” While it might not seem like a big deal since you’re just one person, you’re adding to a larger problem and causing serious harm in ways you don’t realize. “Panic buying is an act of selfish madness,” says Paul Hong , professor of global supply chain ma