Relationship between Panic Buying and Per Capita Income during COVID-19

Panic buying and hoarding express common human behavior in times of crisis. Early in COVID-19, as the pandemic crisis intensified, toilet paper was one of the emblematic cases of panic buying. Using a Geographic Information System (GIS) to cross official per capita income data and real toilet paper...

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Bibliographic Details
Published in:Sustainability 2020-12, Vol.12 (23), p.9968
Main Authors: Yoshizaki, Hugo T. Y., de Brito Junior, Irineu, Hino, Celso Mitsuo, Aguiar, Larrisa Limongi, Pinheiro, Maria Clara Rodrigues
Format: Article
Language:English
Subjects:
Buying
Coronaviruses
COVID-19
Crises
Earthquakes
Geographic information systems
Groceries
Households
Human behavior
Pandemics
Panic
Regression analysis
Social networks
Sustainability
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Summary:Panic buying and hoarding express common human behavior in times of crisis. Early in COVID-19, as the pandemic crisis intensified, toilet paper was one of the emblematic cases of panic buying. Using a Geographic Information System (GIS) to cross official per capita income data and real toilet paper transactions obtained from groceries spread around the city of São Paulo (Brazil), this study compares sales levels during the period in which panic purchases took place to the sales levels off that period. As expected, that data disclose noticeable panic buying. Regression analysis reveals that there is a significant positive correlation between average income per capita and panic buying. The results also indicate that panic buying happens in every income class, including low-income ones and contribute to enhancing the understanding of demand behavior during periods of crisis.
ISSN:2071-1050
2071-1050
DOI:10.3390/su12239968