noun a sudden, widespread, and often irrational purchase of goods, typically in response to a perceived shortage or crisis
Panic buying is often driven by fear, uncertainty, and a need for control in times of crisis.
Panic buying can lead to supply chain disruptions, price gouging, and inflationary pressures.
During times of crisis or uncertainty, panic buying occurs when consumers purchase large quantities of goods out of fear of shortage or price increase.
Panic buying can deplete essential supplies, making it difficult for those in need to access necessary resources.
Panic buying can create a domino effect, where one person's actions influence others to also engage in panic buying.
The term 'panic buy' is often used in news reports and social media discussions to describe consumer behavior during emergencies.
In the field of journalism, writers may use 'panic buy' to describe the phenomenon of people rushing to purchase goods in response to a perceived crisis or shortage.
Psychologists may use 'panic buy' to explore the behavior of individuals who engage in panic buying as a response to fear, uncertainty, or anxiety.
Economists may use 'panic buy' to analyze the impact of panic buying on supply chains, pricing, and overall market stability.
Marketing specialists may use 'panic buy' to develop strategies for addressing consumer behavior during times of heightened panic buying.
Retail managers may use 'panic buy' to prepare for and manage surges in customer demand during periods of panic buying.
Emergency planners may use 'panic buy' to assess the implications of panic buying on disaster preparedness and response efforts.