Panic buying: An insight from the content analysis of media reports during COVID-19 pandemic

Background

Panic buying is an emerging phenomenon observed during, but not restricted to, pandemic.

Aim

We aimed to evaluate the nature, extent, and impact of panic buying as reported in the media.

Methods

This study was conducted by collecting the information from the English media reports published till 22nd May 2020. A structured format was developed to collect data. Searching was done by using the keyword “panic buying”. We have excluded the social media posts discussing the panic buying.

Results

The majority of media reporting was from the USA (40.7 %), and about 46 % of reports highlighted the scarce item. Approximately 82 % of the reports presented the causes of panic buying whereas almost 80 % report covered the impact of it. About 25.7 % of reports highlighted the rumor about panic buying and only 9.3 % of reports blamed the government. Only 27.1 % reports described the remedial measures, 30.8 % reports conferred the news on the psychology behind panic buying and 67.3 % news displayed the images of empty shelves.

Conclusion

A high proportion of reports on panic buying have been found from the developed countries discussing the causes & impact of panic buying on the basis of expert opinion.