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Understanding and managing pandemic-related panic buying
1Department of Psychiatry, University of British Columbia, Vancouver, BC, V6T 2A1b, Canada.
Journal of Anxiety Disorders
|January 31, 2021
Summary
Pandemic panic buying (PB) occurs when people isolate, driven by fear contagion and amplified by social media. This leads to temporary scarcity, with toilet paper being a notable target due to disgust sensitivity.
Area of Science:
- Psychology
- Behavioral Economics
- Public Health
Background:
- Pandemics often trigger panic buying (PB) of essential goods.
- Community leaders were perplexed by PB during the COVID-19 pandemic.
Purpose of the Study:
- To explain the psychological drivers of pandemic-related panic buying.
- To analyze the factors contributing to fear contagion and scarcity mentality.
Main Methods:
- Review of psychological theories including social learning and behavioral immune system.
- Analysis of recent research on pandemic-related consumer behavior.
Main Results:
- Panic buying is initiated by highly fearful individuals during self-isolation periods.
- Fear contagion spreads through social media, amplifying perceived scarcity.
- Toilet paper was a target due to disgust sensitivity; some purchasing was driven by "dark" personality traits.
Conclusions:
- "Don't panic!" messaging is ineffective; alternative communication strategies are needed.
- Understanding psychological factors is crucial for managing pandemic-related consumer behavior.
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