Relationship between Panic Buying and Per Capita Income during COVID-19

Hugo T. Y. Yoshizaki, Irineu de Brito Junior, Celso Mitsuo Hino, Larrisa Limongi Aguiar and Maria Clara Rodrigues Pinheiro
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Hugo T. Y. Yoshizaki: Graduate Program in Logistics Systems Engineering, São Paulo University, São Paulo 05508-010, Brazil
Irineu de Brito Junior: Graduate Program in Logistics Systems Engineering, São Paulo University, São Paulo 05508-010, Brazil
Celso Mitsuo Hino: Department of Production Engineering, São Paulo University, São Paulo 05508-010, Brazil
Larrisa Limongi Aguiar: Graduate Program in Logistics Systems Engineering, São Paulo University, São Paulo 05508-010, Brazil
Maria Clara Rodrigues Pinheiro: Department of Production Engineering, São Paulo University, São Paulo 05508-010, Brazil

Sustainability, 2020, vol. 12, issue 23, 1-14

Abstract: Panic buying and hoarding express common human behavior in times of crisis. Early in COVID-19, as the pandemic crisis intensified, toilet paper was one of the emblematic cases of panic buying. Using a Geographic Information System (GIS) to cross official per capita income data and real toilet paper transactions obtained from groceries spread around the city of São Paulo (Brazil), this study compares sales levels during the period in which panic purchases took place to the sales levels off that period. As expected, that data disclose noticeable panic buying. Regression analysis reveals that there is a significant positive correlation between average income per capita and panic buying. The results also indicate that panic buying happens in every income class, including low-income ones and contribute to enhancing the understanding of demand behavior during periods of crisis.

Keywords: panic buying; hoarding; per capita income; vulnerability; COVID-19; São Paulo; grocery (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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