Consumers worldwide have responded to coronavirus fears by stockpiling food, water, hand sanitizer, toilet paper and more. This is perfectly understandable. But is it rational? Column by Davidlaz:
Disneyland visitors take reasonable precautions but are determined not to let coronavirus fears get in the way of having enjoying the Anaheim theme park.
Catherine Belling, an associate professor of medical education at Northwestern University, likened such purchases to how consumers might react to news of a zombie apocalypse. “We expect the rush to stock up to have an almost immediate impact on supply chains for manufacturers of the most sought-after goods,” the company’s researchers concluded.
“There is no place for price gouging on Amazon,” the company said, blaming “bad actors” for “attempting to artificially raise prices on basic-need products during a global health crisis.”announced Wednesday Many people don’t want to risk a situation where they can’t get their meds. So the prudent move is to buy first, ask questions later.
Yale’s Dhar said it’s important to many consumers to maintain a feeling of being in control of their lives. The impulse to hoard reflects that.
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