On Why We Shouldn’t Panic Buy
It’s been almost 3 months since the first coronavirus infection has happened and the situation doesn’t seem to be getting any better. Almost every country sees an exponential trend of coronavirus infection, and the people, aren’t responding the way they should in spite of the pandemic.
On March 16th, Malaysia’s PM announced a movement restriction policy to slow down the highly-viral coronavirus from spreading even further across the country. The responses were predictable. People of Kuala Lumpur were quickly engaged in panic buying of essentials. Videos of people buying gallons of milk, kilograms of bags of rice, and toilet papers were circling in Whatsapp groups. Hordes of people were waiting in line even before the supermarket was open. And no concrete government actions have been taken to stop these panic buying, except telling them not to.
Now, why are people doing this in spite of the government assurance that all essentials would be provided? According to a consumer psychologist Paul Marsden who spoke to CNBC, “it’s about ‘taking back control’ in a world where you feel out of control.” We feel that we are losing control of the situation. And by panic buying, we fell under the illusion that we have controlled the situation by being ready ahead of time. Which apparently, isn’t true.
Although recently China and The US have developed a vaccine for SARS-Cov-2 which is the virus that is behind Covid-19. It is still undergoing clinical trial and we would see it being mass produced within 18-months from now, which is still a long way to go compared to the problems that the virus has been causing. And no, temperature above 27 degrees Celsius does not kill it. There are no tricks or hacks to make the virus vanish in one fell swoop. In conclusion, we will feel helpless for months or maybe a year.
Maybe people are thinking, “What if we ran out of food? What if we ran out of masks or hand sanitizers?” And so they stock up, crowding supermarkets/groceries, taking whatever edibles they can reach, emptying aisles and freezers, then bringing home things that they did not know how long would last and if they are going to use it or not. Now we see why we shouldn’t do it.
These crowds that panic buying brings increases risk of being infected. People cramped in supermarkets or groceries, will physically and unwillingly be touching each other. Who knows who is already infected? We can not be sure. And if you are among them, you may be next. Also, not all people are as privileged as those who can go to the supermarket and panic buy an excessive amount of supplies. Those who came late, by any means, avoidable or unavoidable, will not get enough for the day. It’s good business for the store, they can always restock it the next day. But it is bad news for those who didn’t get the chance to buy anything, like Anthony Glynn, a 79 years old retired seaman.
The US have seen its Surgeon General pleading for people to stop buying face masks so that their healthcare workers will have enough. On the other hand, Japan imposes penalties on those who resold masks. These series of panic buying causes shortage and problems to those who really needs it. It disrupts efforts that is being done to counter the pandemic. Effectively delaying our way out of our current situation.
We shouldn’t worry about any supply shortages from happening, at least not in the near future. Supermarket chains have their own way of dealing with disruptions. Their supply chains are designed to adapt to unprecedented mishaps, and we wouldn’t notice anything from happening. If one supplier couldn’t supply a product, their network of suppliers are always ready to cover for each other, ensuring that demands are fulfilled.
It doesn’t help to rely on anyone these days. It also does not help in being selfish. The virus will just spread its way around not minding anyone’s business. Whether it’s the government or the people, if we do not collaborate by reminding and lending each other a helping hand, then I’m afraid, we are already too late. And we don’t want to be too late.
