{{Short description|Unusual pattern of purchase}} {{Use dmy dates|date=March 2020|cs1-dates=y}} [[File:Mua hàng dự trữ dịch COVID-19 (cropped).png|thumb|Customers bulk-buying goods during the COVID-19 pandemic in Vietnam]] '''Panic buying''' (alternatively hyphenated as '''panic-buying'''; also known as '''panic purchasing''') occurs when consumers buy unusually large amounts of a product in anticipation of, or after, a disaster or perceived disaster, or in anticipation of a large price increase or shortage.
Panic buying during various health crises is influenced by "(1) individuals' perception of the threat of a health crisis and scarcity of products; (2) fear of the unknown, which is caused by emotional pressure and uncertainty; (3) coping behaviour, which views panic buying as a venue to relieve anxiety and regain control over the crisis; and (4) social psychological factors, which account for the influence of the social network of an individual".<ref>{{cite journal |last1=Yuen |first1=Kum Fai |last2=Wang |first2=Xueqin |last3=Ma |first3=Fei |last4=Li |first4=Kevin X. |title=The Psychological Causes of Panic Buying Following a Health Crisis |journal=International Journal of Environmental Research and Public Health |date=18 May 2020 |volume=17 |issue=10 |pages=3513 |doi=10.3390/ijerph17103513 |pmid=32443427 |pmc=7277661 |doi-access=free }}</ref>
Panic buying is a type of herd behavior.<ref>Bruce Jones & David Steven, ''The New Politics of Strategic Resources: Energy and Food Security Challenges in the 21st Century'' (eds. David Steven, Emily O'Brien & Bruce D. Jone: Brookings Institution Press, 2015), p. 12.</ref> It is of interest in consumer behavior theory, the broad field of economic study dealing with explanations for "collective action such as fads and fashions, stock market movements, runs on nondurable goods, buying sprees, hoarding, and banking panics".<ref>William M. Strahle & E. H. Bonfield. [https://www.acrwebsite.org/volumes/6964/volumes/v16/NA-16 Understanding Consumer Panic: a Sociological Perspective] {{Webarchive|url=https://web.archive.org/web/20210112131448/https://www.acrwebsite.org/volumes/6964/volumes/v16/NA-16 |date=2021-01-12 }}, ''Advances in Consumer Research'', Volume 16, 1989, eds. Thomas K. Srull, Provo, UT: Association for Consumer Research, pp. 567–573.</ref>
Panic buying can lead to genuine shortages regardless of whether the risk of a shortage is real or perceived without merit; the latter scenario is an example of self-fulfilling prophecy.<ref>{{cite news|title=Toxic leak threat to Chinese city|url=https://www.cantonrep.com/news/20200303/we-need-to-calm-down-coronavirus-fears-spark-lsquopanic-buyingrsquo-of-toilet-paper-hand-sanitizer-and-water|work=The Repository|date=8 March 2020|archive-date=2020-03-04 |access-date=2020-03-08 |archive-url=https://web.archive.org/web/20200304114834/https://www.cantonrep.com/news/20200303/we-need-to-calm-down-coronavirus-fears-spark-lsquopanic-buyingrsquo-of-toilet-paper-hand-sanitizer-and-water|url-status=dead}}</ref>
==Examples== thumb|Advertisement using panic as a selling argument. The ad warns about an upcoming typhoon and asks customers whether they have bought everything. Panic buying occurred before, during, or following: * The First (1914–1918)<ref>{{cite book |last1=Faris |first1=Robert |title=Social Disorganization |year=1948 |publisher=The Ronald Press Company |page=524 |url=https://books.google.com/books?id=rFEAAAAAMAAJ}}</ref><ref>{{cite book |last1=Hardach |first1=Gerd |title=The First World War, 1914–1918 |year=1981 |publisher=University of California Press |isbn=978-0-520-04397-8 |page=198 |url=https://books.google.com/books?id=q_G_Qnag_TcC&pg=PA198}}</ref><ref>{{cite book |last1=Watters |first1=Mary |last2=Library |first2=Illinois State Historical |title=Illinois in the Second World War: The production front |year=1952 |publisher=Illinois State Historical Library |page=58 |isbn=9780912154190 |url=https://books.google.com/books?id=Si0gAAAAMAAJ}}</ref> and Second World Wars (1939–1945).<ref>{{cite book |last1=Spaull |first1=Andrew David |title=Australian Education in the Second World War |year=1982 |publisher=University of Queensland Press |isbn=978-0-7022-1644-2 |page=100 |url=https://books.google.com/books?id=stEsAAAAMAAJ}}</ref><ref>{{cite book |last1=Jackson |first1=Ashley |title=The British Empire and the Second World War |year=2006 |publisher=A&C Black |isbn=978-1-85285-417-1 |page=505 |url=https://books.google.com/books?id=cghbp0WbhxAC&pg=PA505}}</ref><ref>{{cite book |last1=Morgan |first1=Philip |title=The Fall of Mussolini: Italy, the Italians, and the Second World War |year=2008 |publisher=OUP Oxford |isbn=978-0-19-157875-5 |page=66 |url=https://books.google.com/books?id=-UttMMRXi9AC&pg=PA66}}</ref> * The 1918–1919 global influenza pandemic ("Spanish flu") led to the panic buying of quinine and other remedies for influenza and its symptoms from pharmacists and doctors' surgeries.<ref>{{cite journal |last1=Honigsbaum |first1=Mark |title=Regulating the 1918–19 Pandemic: Flu, Stoicism and the Northcliffe Press |journal=Medical History |year=2013 |volume=57 |issue=2 |pages=165–185 |doi=10.1017/mdh.2012.101 |pmid=24070344 |pmc=3867839 |issn=0025-7273|doi-access=free }}</ref> Sales of Vicks VapoRub increased from $900,000 to $2.9 million in a year.<ref>{{cite news |last1=Burden |first1=Lizzy |title=Is panic buying irrational? Here's why it can seem to make economic sense |url=https://www.telegraph.co.uk/business/2020/03/20/panic-buying-irrational-can-seem-make-economic-sense/ |access-date=7 April 2020 |work=The Telegraph |date=20 March 2020}}</ref> * In the First Austrian Republic in 1922, hyperinflation and the rapid depreciation of the Austrian krone led to panic buying and food hoarding, which continued until a rescue backed by the League of Nations prevented an economic collapse.<ref>Colin Storer, ''A Short History of the Weimar Republic'' (I.B. Tauris, 2013), p. 102-03.</ref> * Bengal famine of 1943.<ref>{{cite book|author1=Archibald Percival Wavell|author-link1=Archibald Wavell, 1st Earl Wavell|editor1-last=Moon|editor1-first=Penderel|editor1-link = Penderel Moon | title=Wavell: The Viceroy's Journal|url=https://archive.org/details/wavellviceroysjo0000wave|url-access=registration|year=1973|publisher=Oxford University Press|page=[https://archive.org/details/wavellviceroysjo0000wave/page/34 34]|isbn=978-0-19-211723-6}}</ref> * 1962 Cuban Missile Crisis led to panic buying of canned foods in the United States.<ref>{{cite book|author1=Alice L. George|title=Awaiting Armageddon: How Americans Faced the Cuban Missile Crisis|year=2003|publisher=The University of North Carolina Press|isbn=0807828289|page=[https://archive.org/details/awaitingarmagedd0000geor/page/78 78]|url=https://archive.org/details/awaitingarmagedd0000geor|url-access=registration}}</ref> * The 1973 toilet paper panic in the United States.<ref>{{cite web |last1=Buder |first1=Emily |title=The Great Toilet-Paper Shortage Scare – The Atlantic |url=https://www.theatlantic.com/video/index/608209/toilet-paper-shortage/ |website=www.theatlantic.com |access-date=29 April 2020 |language=en |date=19 March 2020}}</ref> * The 1979 oil crisis led to panic buying of oil, led by Japan.<ref>Mamdouch G. Salameh, "Oil Crises, Historical Perspective" in ''Concise Encyclopedia of the History of Energy'' (ed. Cutler J. Cleveland: Elsevier, 2009), p. 196.</ref> * The 1985 arrival of New Coke led many consumers to panic buy the original Coke.<ref>{{cite book |last1=Taylor |first1=Peter |title=The thirty-six stratagems: A modern-day interpretation of a strategy classic |date=2013 |publisher=Infinite Ideas |isbn=978-1-908474-97-1 |page=50 |url=https://books.google.com/books?id=TNW6s6u0EIQC&pg=PA50}}</ref><ref>{{cite book |last1=Roberts |first1=Kevin |title=Lovemarks: the future beyond brands |date=2005 |publisher=powerHouse Books |isbn=978-1-57687-534-6 |page=193 |url=https://books.google.com/books?id=xVefKsK9MtYC&pg=PA193}}</ref> * Year 2000 problem – food.<ref>{{cite news|last1=Lohr|first1=Steve|title=Technology and 2000 – Momentous Relief; Computers Prevail in First Hours of '00|url=https://www.nytimes.com/2000/01/01/us/1-1-00-technology-2000-momentous-relief-computers-prevail-first-hours-00.html?pagewanted=all|work=New York Times|date=1 January 2000}}</ref><ref>{{cite news|title=The Millenium Bug threatens food supply systems – developing countries are also vulnerable, FAO warns|url=http://www.fao.org/News/1999/990302-e.htm|publisher=Food and Agriculture Organization|date=19 April 1999|archive-date=2015-09-24 |access-date=2014-11-11 |archive-url=https://web.archive.org/web/20150924041501/http://www.fao.org/News/1999/990302-e.htm|url-status=dead}}</ref> * 2001 – panic buying of metals, gold and oil on international commodity markets following the September 11 attacks.<ref>{{Cite web|url=https://money.cnn.com/2001/09/11/markets/oil/|archive-url=https://web.archive.org/web/20011011225133/http://money.cnn.com/2001/09/11/markets/oil/|url-status=dead|archive-date=11 October 2001|title=Oil and gold prices spike|date=11 September 2001|website=money.cnn.com}}</ref> * Between January and February 2003, during the SARS outbreak, several rounds of panic buying of various products (including salt, rice, vinegar, vegetable oil, antibiotics, face masks, and traditional Chinese medicine) took place in the Chinese province of Guangdong and in neighboring areas such as Hainan and Hong Kong.<ref>{{cite book|first=Huiling|last=Ding|title=Rhetoric of a Global Epidemic: Transcultural Communication about SARS|publisher=Southern Illinois University Press|year=2014|pages=70, 72, 83, 103, 111}}</ref> * 2000 and 2005 UK fuel protests.<ref>{{cite news|last1=Collins|first1=Nick|title=EU ban on traditional lightbulbs prompts panic buying|url=https://www.telegraph.co.uk/earth/energy/6082853/EU-ban-on-traditional-lightbulbs-prompts-panic-buying.html|archive-url=https://web.archive.org/web/20090828200615/http://www.telegraph.co.uk/earth/energy/6082853/EU-ban-on-traditional-lightbulbs-prompts-panic-buying.html|url-status=dead|archive-date=28 August 2009|work=The Telegraph|date=25 August 2009}}</ref><ref name="bbc20000914">{{cite news |url=https://news.bbc.co.uk/2/hi/uk_news/924329.stm |title=UK fuel blockades tumble |date=14 September 2000 |publisher= BBC News|access-date=12 January 2008}}</ref> * 2005 Jilin chemical plant explosions – water, food.<ref>{{cite news | title= Toxic leak threat to Chinese city| url=https://news.bbc.co.uk/2/hi/asia-pacific/4462760.stm | publisher= BBC News| date = 23 November 2005}}</ref> * 2008–2016 United States ammunition shortage – panic buying by gun owners who feared tougher gun control laws under President Barack Obama was one cause of ammunition shortages.<ref>{{cite web|first=Danielle|last=Kurtzleben|url=https://www.vox.com/2014/7/1/5845524/the-ammunition-shortage-is-a-real-thing-heres-why-it-happened|title=Here's why the ammunition shortage went on for years|website=vox.com|date=1 July 2014}}</ref><ref>{{cite news|first=Stephanie|last=Clifford|url=https://www.nytimes.com/2012/12/22/nyregion/gun-shop-owners-report-spike-in-sales-as-enthusiasts-fear-possible-new-laws.html|title=Shop Owners Report Rise in Firearm Sales as Buyers Fear Possible New Laws|newspaper=New York Times|date=22 December 2012}}</ref> * In September 2013 during the Venezuelan economic crisis, the Venezuelan government temporarily took over the Aragua-based Paper Manufacturing Company toilet paper plant to manage the "production, marketing and distribution" of toilet paper following months of depleted stocks of basic goods—including toilet paper—and foodstuffs, such as rice and cooking oil. Blame for the shortages was placed on "ill-conceived government policies such as price controls on basic goods and tight restrictions on foreign currency" and hoarding.<ref>{{Cite news| title = Facing shortages, Venezuela takes over toilet paper factory |work=CNN |first1=Marilia |last1=Brochetto |first2=Greg |last2=Botelho| access-date = 13 March 2020 |date=12 September 2013| url = https://www.cnn.com/2013/09/21/world/americas/venezuela-toilet-paper/}}</ref> * ''Dakazo'' – Amid decreased support before the 2013 Venezuelan municipal elections, Venezuelan president Nicolás Maduro announced the military occupation of stores on 8 November 2013, proclaiming "Leave nothing on the shelves!"<ref name="ETnov2014">{{cite news|last1=Lezama Aranguren|first1=Erick|url=http://eltiempo.com.ve/venezuela/situacion/la-resaca-del-dakazo-un-ano-despues/161509|title=La resaca del "dakazo", un año después|date=9 November 2014|access-date=12 November 2014|url-status=dead|archive-url=https://web.archive.org/web/20141112122704/http://eltiempo.com.ve/venezuela/situacion/la-resaca-del-dakazo-un-ano-despues/161509|archive-date=12 November 2014|agency=El Tiempo}}</ref> The announcement of lowered prices sparked looting in multiple cities across Venezuela.<ref name="EUROnov2013">{{cite news|url=http://www.euronews.com/2013/11/12/watch-looting-in-venezuela-after-government-launches-attack-on-bourgeois-paras/|title=Watch: Looting in Venezuela after government launches attack on 'bourgeois parasites'|date=12 November 2013|access-date=12 November 2014|agency=EuroNews}}</ref> By the end of the Dakazo, many Venezuelan stores were left empty of their goods.<ref name="ETnov2014"/> A year later in November 2014, some stores still remained empty following the Dakazo.<ref name="ETnov2014"/> * In May 2021, panic buying exacerbated fuel shortages during the Colonial Pipeline ransomware attack in the Southeastern United States. * In September 2021, panic buying of petrol led to empty fuel filling stations across the United Kingdom. A lack of tanker drivers was blamed, with Brexit being the primary cause according to most Road Haulage Association respondents.<ref>[https://www.cnbc.com/2021/09/27/uk-could-deploy-army-to-deliver-fuel-as-drivers-panic-buy-gasoline.html A weekend of panic buying has left many gas stations across the UK dry], ''CNBC''</ref> *In November 2021, panic buying of groceries took place in the British Columbia Interior and Fraser Valley owing to the impacts of the 2021 Pacific Northwest floods.<ref>{{Cite web|last=Delvin|first=Megan|date=November 17, 2021|title=Grocery stores running out of food in BC cities cut off by flooding (PHOTOS)|url=https://dailyhive.com/vancouver/grocery-stores-no-food-bc-flooding|access-date=November 17, 2021|website=dailyhive.com}}</ref> * On March 3, 2022, panic buying of IKEA kit furniture and home appliances occurred in Russia due to the company's decision to close their 17 Russian stores in light of the 2022 Russian invasion of Ukraine. Extensive queues were reported in IKEA's Moscow and Saint Petersburg stores, and customers attempted to enter from the exit doors when entrance doors were closed.<ref>{{Cite web|work=Yahoo Finance|date=March 7, 2022|title=Shoppers panic buy as IKEA shuts stores & factories in Russia |url=https://uk.finance.yahoo.com/news/shoppers-panic-buy-ikea-shuts-162700033.html|access-date=March 7, 2022}}</ref> * In May 2023, the Malaysian states of Penang and Kedah experienced panic buying of bottled water due to an interruption in tap water supply lasting less than 24 hours.<ref>{{cite news |title=Panic-buying up north as taps run dry |url=https://www.thestar.com.my/news/nation/2023/05/16/panic-buying-up-north-as-taps-run-dry |access-date=21 May 2023 |work=The Star |date=16 May 2023 |language=en}}</ref> * In August 2023, after the discharge of radioactive water of the Fukushima Daiichi Nuclear Power Plant, people in China began panic buying salt and radiation detectors because of the public anxiety towards the radioactive water released.<ref>{{Cite web |title=China shoppers panic-buying salt after Fukushima Daiichi treated water release {{!}} NHK WORLD-JAPAN News |url=https://www3.nhk.or.jp/nhkworld/en/news/20230825_30/ |archive-url=https://web.archive.org/web/20230831040348/https://www3.nhk.or.jp/nhkworld/en/news/20230825_30/ |url-status=dead |archive-date=31 August 2023 |access-date=2023-08-31 |website=NHK WORLD |language=en}}</ref><ref>{{Cite web |date=2023-08-25 |title=In China, Fukushima discharge met with bans, panic buying and wariness |url=https://www.tbsnews.net/world/china-fukushima-discharge-met-bans-panic-buying-and-wariness-688658 |access-date=2023-08-31 |website=The Business Standard |language=en}}</ref> Consumers in South Korea also began hoarding salt and seafood.<ref>{{Cite web |last1=Yeung |first1=Jessie |last2=Seo |first2=Yoonjung |last3=Hancocks |first3=Paula |date=2023-07-10 |title=South Korean shoppers hoard salt and seafood ahead of Japan's release of treated radioactive water {{!}} CNN Business |url=https://www.cnn.com/2023/07/09/business/japan-fukushima-south-korea-panic-buying-intl-hnk/index.html |access-date=2024-08-27 |website=CNN |language=en}}</ref><ref>{{Cite news |last1=Kim |first1=Daewoung |last2=Yim |first2=Hyunsu |date=June 11, 2023 |title=South Korea sea salt demand grows ahead of Japan's Fukushima contaminated water release |url=https://www.reuters.com/world/asia-pacific/skorea-sea-salt-demand-grows-ahead-japans-fukushima-contaminated-water-release-2023-06-09/ |work=Reuters}}</ref> * In August 2024, Japanese consumers began panic buying rice due to supply shortages, megaquake warnings, and typhoons.<ref>{{Cite news |date=2024-08-27 |title=Japanese scramble to buy beloved staple as rice shortages bite |url=https://www.straitstimes.com/asia/east-asia/japanese-scramble-to-buy-beloved-rice-as-shortages-bite |access-date=2024-08-27 |work=The Straits Times |language=en |issn=0585-3923}}</ref> * In October 2024, American consumers purchased large quantities of toilet paper and paper towels during the 2024 United States port strike,<ref name="LaRocco 2024">{{cite news |last1=LaRocco |first1=Lori Ann |title=Panic buying amid U.S. ports strike is creating supermarket supply concerns |url=https://www.cnbc.com/2024/10/03/panic-buying-us-ports-strike-food-supply-concerns.html |access-date=3 October 2024 |work=CNBC |publisher=Comcast |date=3 October 2024 |ref=LaRocco 2024 |archive-url=https://web.archive.org/web/20241003204812/https://www.cnbc.com/2024/10/03/panic-buying-us-ports-strike-food-supply-concerns.html |archive-date=3 October 2024}}</ref> despite these products not being among those affected by labor action.<ref name="Limehouse et al. 2024">{{cite news |last1=Limehouse |first1=Jonathan |last2=Lagatta |first2=Eric |last3=Lee |first3=Medora |title=Toilet paper not expected to see direct impacts from port strike: 'People need to calm down' |url=https://www.usatoday.com/story/money/2024/10/03/toilet-paper-port-strike/75495478007/ |access-date=3 October 2024 |work=USA Today |publisher=Maribel Perez Wadsworth |date=3 October 2024 |ref=Limehouse et al. 2024 |archive-url=https://web.archive.org/web/20241003222402/https://www.usatoday.com/story/money/2024/10/03/toilet-paper-port-strike/75495478007/ |archive-date=3 October 2024}}</ref><ref name="Rissman 2024">{{cite news |last1=Rissman |first1=Kelley |title=Why is toilet paper out of stock? Customers panic-buy as port strike enters day three |url=https://www.independent.co.uk/news/world/americas/us-politics/toilet-paper-panic-buying-port-strike-b2622820.html |access-date=3 October 2024 |work=The Independent |publisher=Independent Digital News & Media Ltd |date=3 October 2024 |ref=Rissman 2024 |archive-url=https://web.archive.org/web/20241003044058/https://www.independent.co.uk/news/world/americas/us-politics/toilet-paper-panic-buying-port-strike-b2622820.html |archive-date=3 October 2024}}</ref> At the end of the same month, due to the Spanish floods, bottled water and other products ran out in the supermarkets Mercadona and Consum, in Valencia.<ref>{{cite news |url=https://www.economiadigital.es/valencia/empresas/agua-mercadona-consum-dana-valencia.html |title=Agotada el agua en Mercadona y Consum en Valencia por el pánico de bulos generados con la DANA |first=Julián |last=Arraz |date=30 October 2024 |access-date=1 November 2024 |work=Economía Digital |language=es}}</ref><ref>{{cite news |url=https://www.todoalicante.es/comunitat/supermercados-vacios-panico-nueva-dana-20241101085854-nt.html |title=Supermercados vacíos por el pánico a una nueva DANA |date=1 November 2024 |access-date=1 November 2024 |work=Todo Alicante |language=es}}</ref> * In December 2024, after Yoon Suk Yeol, the president of South Korea, declared martial law, South Korean consumers began panic buying food, water, and other essential goods.<ref>{{cite news|date=4 December 2024|title=Convenience stores see uptick in sales following martial law declaration|url=https://news.koreaherald.com/view.php?ud=20241204050107|website=The Korea Herald|access-date=6 December 2024}}</ref><ref>{{cite news|date=4 December 2024|title=Martial law triggers panic buying of essentials|url=https://www.koreatimes.co.kr/www/tech/2024/12/129_387703.html|website=The Korea Times|access-date=6 December 2024}}</ref> * On 28 April 2025, Spaniards began panic buying radio receivers, bottled water, non-perishable food, etc. due to 2025 Iberian Peninsula power outage. Some supermarkets closed to the public.<ref>{{cite news |url=https://www.levante-emv.com/comunitat-valenciana/2025/04/29/apagon-valencia-compras-furor-radios-pilas-bares-linternas-velas-116854144.html |title=Las compras del apagón en València: Furor por las radios a pilas y el bar como refugio |first=Gonzalo |last=Sánchez |date=29 April 2025 |access-date=30 April 2025 |newspaper=Levante-EMV |language=es}}</ref><ref>{{cite news |url=https://www.infobae.com/espana/2025/04/28/supermercados-cierran-en-espana-tras-masivo-apagon-largas-colas-y-compras-de-emergencia/ |title=Supermercados cierran en España tras masivo apagón: largas colas y compras de emergencia |date=28 April 2025 |access-date=30 April 2025 |work=Infobae |language=es}}</ref>
=== COVID-19 pandemic === {{see also|Shortages related to the COVID-19 pandemic}} [[File:Empty toilet-paper shelves at Ica Focus - Gbg (cropped).jpg|thumb|Aftermath of selective panic buying of toilet paper during the COVID-19 pandemic]] Panic buying became a major international phenomenon between February and March 2020 during the early onset of the COVID-19 pandemic, and continued in smaller, more localized waves throughout during sporadic lockdowns across the world. Stores around the world were depleted of items such as face masks, food, bottled water, milk, toilet paper,<ref>[https://marker.medium.com/what-everyones-getting-wrong-about-the-toilet-paper-shortage-c812e1358fe0 What everyone's getting wrong about the toilet paper shortage] Medium</ref> hand sanitizer, rubbing alcohol, antibacterial wipes and painkillers.<ref>{{Cite web|url=https://insideretail.com.au/news/supermarkets-report-panic-buying-over-coronavirus-fears-202003|title=Supermarkets report panic buying over coronavirus fears|date=2020-03-03|website=Inside Retail|access-date=2020-04-03}}</ref><ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2020-02-24/virus-outbreak-drives-italians-to-panic-buying-of-masks-and-food|title=Virus Outbreak Drives Italians to Panic-Buying of Masks and Food|last1=Sirletti|first1=Sonia|last2=Remondini|first2=Chiara|date=24 February 2020|website=Bloomberg|access-date=29 February 2020|last3=Lepido|first3=Daniele}}</ref><ref>{{Cite web| title = The economics of the toilet paper panic—and why more stockpiling is inevitable|work=Macleans|date=10 March 2020 |access-date = 13 March 2020| url = https://www.macleans.ca/economy/economicanalysis/the-toilet-paper-panic-and-why-more-stockpiling-is-inevitable/}}</ref><ref>{{Cite web| title = Virus panic buying prompts toilet paper rationing in Australia| work = CTVNews| access-date = 13 March 2020| date = 4 March 2020| url = https://www.ctvnews.ca/world/article/virus-panic-buying-prompts-toilet-paper-rationing-in-australia/}}</ref><ref>{{cite web |url=https://www.smh.com.au/business/companies/coles-limits-toilet-paper-purchases-to-one-pack-per-person-20200308-p547xb.html |title=Coles and Woolworths further limit toilet paper purchases as supply sells out in an hour |agency=Sydney Morning Herald |publisher=smh.com.au |date=8 March 2020 |access-date=11 March 2020}}</ref><ref>{{Cite web| title = 'It's crazy': Panic buying forces stores to limit purchases of toilet paper and masks|date=6 March 2020 |publisher=CNN| access-date = 13 March 2020| url = https://www.cnn.com/2020/03/06/business/coronavirus-global-panic-buying-toilet-paper/index.html}}</ref> As a result, many retailers rationed the sale of these items.<ref>{{cite news |last1=Gadher |first1=Dipesh |title=Every ration helps in coronavirus crisis: Tesco puts one-item limit on essentials |url=https://www.thetimes.com/uk/healthcare/article/every-ration-helps-in-coronavirus-crisis-tesco-puts-one-item-limit-on-essentials-xcpv028kw |access-date=7 April 2020 |work=The Sunday Times |date=29 March 2020}}</ref>
Online retailers such as eBay and Amazon began to pull certain items listed for sale by third parties such as toilet paper,<ref>{{cite news |last1=Halliday |first1=Josh |title=eBay urged to clamp down on coronavirus profiteering |url=https://www.theguardian.com/uk-news/2020/mar/16/ebay-urged-to-clamp-down-on-coronavirus-profiteering |access-date=7 April 2020 |work=The Guardian |date=16 March 2020}}</ref> face masks, pasta, canned vegetables, hand sanitizer and antibacterial wipes over price gouging concerns.<ref>{{cite news |title=Coronavirus price gouging: Amazon and eBay failing to tackle rip-off sellers, says Which? |url=https://news.sky.com/story/coronavirus-price-gouging-amazon-and-ebay-failing-to-tackle-rip-off-sellers-says-which-11963229 |access-date=7 April 2020 |work=Sky News |date=25 March 2020}}</ref><ref>{{cite news |last1=Nicas |first1=Jack |title=He Has 17,700 Bottles of Hand Sanitizer and Nowhere to Sell Them |url=https://www.nytimes.com/2020/03/14/technology/coronavirus-purell-wipes-amazon-sellers.html |access-date=7 April 2020 |work=The New York Times |date=14 March 2020}}</ref> As a result, Amazon restricted the sale of these items and others (such as thermometers and ventilators) to healthcare professionals and government agencies.<ref>{{cite news |last1=Palmer |first1=Annie |title=Amazon blocks sale of N95 masks to the public, begins offering supplies to hospitals |url=https://www.cnbc.com/2020/04/02/amazon-blocks-sale-of-n95-masks-to-public-begins-supplying-hospitals.html |access-date=7 April 2020 |work=CNBC |date=2 April 2020}}</ref> Additionally, panic renting of self-storage units took place during the onset of the pandemic.<ref>{{cite web|date=2 April 2020|title=Transacting in Turbulent Times: The Impact of Coronavirus Across All Segments of the Self-Storage Industry|url=https://www.insideselfstorage.com/coronavirus-covid-19/transacting-turbulent-times-impact-coronavirus-across-all-segments-self-storage|website=Inside Self-Storage|language=en}}</ref>
The massive buyouts of toilet paper caused bewilderment and confusion from the public. Images of empty shelves of toilet paper were shared on social media in many countries around the world, e.g. Australia, United States, the United Kingdom, Canada, Singapore, Hong Kong and Japan. In Australia, two women were charged over a physical altercation over toilet paper at a supermarket.<ref>{{Cite web|date=2020-03-08|title=Women charged after toilet paper row at Sydney Woolworths goes viral|url=https://www.abc.net.au/news/2020-03-08/coronavirus-toilet-paper-fight-at-woolworths-leads-to-charges/12037046|access-date=2021-03-30|website=www.abc.net.au|language=en-AU}}</ref> The severity of the panic buying drew criticism; particularly from Prime Minister of Australia Scott Morrison, calling for Australians to "stop it".<ref>{{Cite web|title='It's un-Australian, and it must stop': Scott Morrison tells Australians to cease panic buying|url=https://www.sbs.com.au/news/it-s-un-australian-and-it-must-stop-scott-morrison-tells-australians-to-cease-panic-buying|access-date=2020-08-03|website=SBS News|language=en}}</ref>
Research on this specific social phenomenon of toilet paper hoarding suggested that social media had played a crucial role in stimulating mass-anxiety and panic.<ref>{{Cite journal|last1=Leung|first1=Janni|last2=Chung|first2=Jack Yiu Chak|last3=Tisdale|first3=Calvert|last4=Chiu|first4=Vivian|last5=Lim|first5=Carmen C. W.|last6=Chan|first6=Gary|date=January 2021|title=Anxiety and Panic Buying Behaviour during COVID-19 Pandemic—A Qualitative Analysis of Toilet Paper Hoarding Contents on Twitter|journal=International Journal of Environmental Research and Public Health|language=en|volume=18|issue=3|pages=1127|doi=10.3390/ijerph18031127|pmid=33514049|pmc=7908195|doi-access=free}}</ref> Social media research found that many people posting about toilet paper panic buying were negative, either expressing anger or frustration over the frantic situation. This high amount of negative viral posts could act as an emotional trigger of anxiety and panic, spontaneously spreading fear and fueling psychological reactions in midst of the crisis. It may have triggered a snowball effect in the public, encouraged by the images and videos of empty shelves and people fighting over toilet rolls.
== Gallery == <gallery> File:Rationing Means a Fair Share for All of Us.jpg|alt=A cartoon of two women with the above panel having a woman hoarding and the below panel having the two share resources via rationing|A United States propaganda poster in World War II showing the effects of panic buying goods File:Mexico City Empty Shelves in a Supermarket Swine Flu.jpg|Shoppers at a Walmart in Mexico City panic buying canned food during the 2009 flu pandemic File:Dakazo.png|Venezuelans grabbing for items during the ''Dakazo'', an event of the crisis in Venezuela File:DSC05532 (49675496857).jpg|Shoppers in London panic buying canned food and toilet paper during the COVID-19 pandemic File:2020-03-13 22 34 45 Bare shelves due to panic buying in the Giant supermarket at the Franklin Farm Village Shopping Center in the Franklin Farm section of Oak Hill, Fairfax County, Virginia during the COVID-19 corona virus pandemic.jpg|Panic buying at the Giant supermarket in Franklin Farm, Virginia, during the COVID-19 pandemic in March 2020 File:Fishing-rod panic buying.jpg|Fishing-rod panic buying in Corpus Christi, Texas, during the COVID-19 pandemic </gallery>
==See also==
* Panic selling * Revenge buying * Stock market crash * Economic bubble * Mass hysteria * Hoarding * Panic room
==References== {{Reflist|2}}
==External links== * {{Commons category-inline}}
Category:Economic problems Category:Consumer behaviour Category:Scarcity