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Should you stock up on groceries due to Corona virus?

JOHANNESBURG – With the coronavirus outbreak prohibiting the gathering of more than 100 people and the cancellation of many events, social media has been littered with videos and pictures of the public panic buying loads of household items.

EWN Reporter@ewnreporter · Mar 16, 2020

WATCH: Shoppers are stocking up on household products. Trolleys at a local department are stacked with tissues, food etc. #CoronaVirusSA #CoronavirusInSA
Video: @j_sampz

EWN Reporter@ewnreporter

#WATCH The stockpiling continues… This is Makro Strubens Valley. Same situation with many shoppers loading up on products. The till line goes from the door of the store all the way back round and past the start again. Video: Supplied.9111:12 AM – Mar 16, 2020Twitter Ads info and privacy153 people are talking about this

EWN Reporter@ewnreporter · Mar 16, 2020Replying to @ewnreporter @j_sampz

#CoronaVirusSA #CoronaVirusInSA Stock of some items including hand wash at a Pick n Pay store in Joburg has been WIPED OUT. Pictures: Cindy Poluta.

View image on Twitter
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View image on Twitter

EWN Reporter@ewnreporter

WATCH: Stockpiling at another Makro. #CoronaVirusSA Video: 812:43 PM – Mar 16, 2020Twitter Ads info and privacySee EWN Reporter’s other Tweets

702‘s Bongani Bingwa spoke to Gordon Institute of Business Science Dean, Professor Nicola Kleyn, to unpack the effects of panic buying.

“Academic papers suggest that panic buying is actually rational disaster buying. They are expecting that they may not have access to food stocks for some time.”

She said panic buying in the case of a disaster was a fairly short-lived phenomenon.

“When people feel that death is imminent, in most cases, they will panic. What we are seeing is psychological behaviour, it is less about the stock and more about what they are buying, like toilet paper.

“The hypothesis is that toilet paper is big and comfortable and relatively cheap for its size,” she says.

“Buying toilet paper is not panic buying, people want to feel that they have done what they needed to be prepared and toilet paper represents an easy purchase. People need to be conscious and rational when they go shopping. If people are stockpiling, they must be willing to offer those that can’t.”

Listen to the audio below for more.

To track the latest developments around the coronavirus both in South Africa and abroad, click on this live status report from Strategix. Eye Witness News

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