As a result of the declaration of a public health emergency all over the Philippines as a result of multiple local transmissions of COVID-19, many people have stormed groceries and department stores to stock up on items they think will be essential to their well-being and survival.
Items like canned food, water, sanitary items, and face masks are on top of the list. But some people, ever wary of the possibility of a city-wide lockdown, just grab everything they can from the shelves.
It’s not just happening here. Apparently, in many parts of the world, people are also panic buying. Check the news reports. Toilet paper is now becoming the number one item to buy in several countries and many stores have run out of stock.
Panic buying is the buying of large quantities of commodities in response to a perceived crisis. It’s usually a knee-jerk reaction from people who suddenly become afraid certain commodities will become scarce or overpriced as a result of that crisis.
However, panic buying doesn’t solve our COVID-19 problem, it only compounds it even more.
First, going out to buy huge amounts of whatever you want, you will likely encounter hordes of people doing the same. The groceries will literally become crowded with people frantic to get their hands on anything. This runs counter to the suggestion that people avoid crowds and public gatherings as a way to prevent spreading COVID-19.
Second, while people panic buy to avoid shortages, in the end what they are doing will actually lead to a shortage and possibly a price increase. As a result, they end up causing what they fear will happen.
Third, it just causes more panic. When a man sees a neighbor grabbing everything he thinks he needs from the shelves, he will most likely start doing the same. An atmosphere of fear like this is never good for any crisis as it will only impair the judgment of people.
It’s not called panic buying for nothing after all.
Yes, the COVID-19 virus is indeed a threat and a crisis, but the first thing we must do in any crisis is to stay calm. Panic buying just creates this tidal wave of fear that threatens to overwhelm even the most sensible of us.