posted on 2023-08-30, 17:28authored byS. M. Yasir Arafat, Sujita K. Kar, Vikas Menon, Charanya Kaliamoorthy, Srijeeta Mukherjee, Angi Alradie-Mohamed, Pawan Sharma, Marthoenis Marthoenis, Russell Kabir
Background:
Panic buying is an emerging phenomenon observed during, but not restricted to, pandemic.
Aim:
We aimed to evaluate the nature, extent, and impact of panic buying as reported in the media.
Methods:
This study was conducted by collecting the information from the English media reports published till 22nd May 2020. A structured format was developed to collect data. Searching was done by using the keyword “panic buying”. We have excluded the social media posts discussing the panic buying.
Results:
The majority of media reporting was from the USA (40.7 %), and about 46 % of reports highlighted the scarce item. Approximately 82 % of the reports presented the causes of panic buying whereas almost 80 % report covered the impact of it. About 25.7 % of reports highlighted the rumor about panic buying and only 9.3 % of reports blamed the government. Only 27.1 % reports described the remedial measures, 30.8 % reports conferred the news on the psychology behind panic buying and 67.3 % news displayed the images of empty shelves.
Conclusion:
A high proportion of reports on panic buying have been found from the developed countries discussing the causes & impact of panic buying on the basis of expert opinion.