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

ABSTRACT

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.