From Wikipedia, the free encyclopedia
Panic buying (alternatively rendered as panic-buying) occurs when consumers buy unusually large amounts of a product in anticipation of, or after, a disaster or perceived disaster, or in anticipation of a large price increase or shortage.
Panic buying is a type of
herd behavior. It is of interest in  consumer behavior theory, the broad field of economic study dealing with explanations for " collective action such as fads and fashions, stock market movements, runs on nondurable goods, buying sprees, hoarding, and banking panics."
Panic-buying can lead to genuine shortages regardless of whether the risk of a shortage is real or perceived; the latter scenario is an example of
Panic buying occurred before, during, or following these incidents:
1922–1923 German hyperinflation
1943 Bengal famine  1962
Cuban Missile Crisis – led to panic buying of canned foods in the United States  The
1979–1980 oil crisis led to panic buying of oil, led by Japan. 
Year 2000 problem – food   2001 - panic buying of metals, gold and oil on international
commodity markets following the September 11 attacks  In January and February 2003, during the
SARS outbreak, several rounds of panic buying of various products (including salt, rice, vinegar, vegetable oil, antibiotics, masks, and traditional Chinese medicine) took place in the Chinese province of Guangdong and in neighboring areas such as Hainan and Hong Kong.  2000 and 2005
UK fuel protests  
2005 Jilin chemical plant explosions – water, food 
2008–2013 United States ammunition shortage – Panic buying by gun owners who feared tougher gun control laws under President Barack Obama was one cause of ammunition shortages.   In September 2013 during the
Venezuelan economic crisis, the Venezuelan government temporarily took over the Aragua-based Paper Manufacturing Company toilet paper plant to manage the "production, marketing and distribution" of toilet paper following months of depleted stocks of basic goods—including toilet paper—and foodstuffs, such as rice and cooking oil. Blame for the shortages was placed on "ill-conceived government policies such as price controls on basic goods and tight restrictions on foreign currency" and hoarding. 
– Amid decreased support before the Dakazo 2013 Venezuelan municipal elections, Venezuelan president Nicolás Maduro announced the military occupation of stores on 8 November 2013, proclaiming "Leave nothing on the shelves!" The announcement of lowered prices sparked looting in multiple cities across Venezuela.  By the end of the Dakazo, many Venezuelan stores were left empty of their goods.  A year later in November 2014, some stores still remained empty following the Dakazo.   2019–20 coronavirus pandemic – masks, food, bottled water, toilet paper, hand sanitizer and rubbing alcohol.     
^ Bruce Jones & David Steven,
The New Politics of Strategic Resources: Energy and Food Security Challenges in the 21st Century (eds. David Steven, Emily O'Brien & Bruce D. Jone: Brookings Institution Press, 2015), p. 12.
^ William M. Strahle & E. H. Bonfield.
Understanding Consumer Panic: a Sociological Perspective, Advances in Consumer Research, Volume 16, 1989, eds. Thomas K. Srull, Provo, UT: Association for Consumer Research, pp. 567-573.
"Toxic leak threat to Chinese city". The Repository. 2020-03-08.
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^ Huiling Ding,
Rhetoric of a Global Epidemic: Transcultural Communication about SARS (Southern Illinois University Press, 2014), pp. 70, 72, 83, 103, 111.
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"Toxic leak threat to Chinese city". BBC News. 2005-11-23.
^ Danielle Kurtzleben,
Here's why the ammunition shortage went on for years, Vox (1 July 2014).
^ Stephanie Clifford,
Shop Owners Report Rise in Firearm Sales as Buyers Fear Possible New Laws, New York Times (22 December 2012).
Brochetto, Marilia; Botelho, Greg (2013-09-12). "Facing shortages, Venezuela takes over toilet paper factory". CNN . Retrieved . 2020-03-13
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"Watch: Looting in Venezuela after government launches attack on 'bourgeois parasites. EuroNews. 2013-11-12 '" . Retrieved . 2014-11-12
Sirletti, Sonia; Remondini, Chiara; Lepido, Daniele (2020-02-24). "Virus Outbreak Drives Italians to Panic-Buying of Masks and Food". Bloomberg . Retrieved . 2020-02-29
"The economics of the toilet paper panic—and why more stockpiling is inevitable". Macleans . Retrieved . 2020-03-13
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