Business Perspectives of Panic Buying

Abstract

Panic buying is one of the irrational human behaviors mostly being observed during environmental emergencies. Several domains of life overlap while explaining the action and instigating the prevention strategies. Consumer behavior affects and is affected by marketing policies, supply chain management, and economics principles. A sudden increase in demand resulting in an acute shortage of necessary goods challenges supply chain efficiency. Fraudulent marketers can disseminate the panic buying provoking stimulus to sell their specific products to create chaos in the environment. This chapter discusses the relationship of panic buying with the business dimensions, such as how supply chain affects and is affected by panic buying, role marketing principles, industrial buying characteristics due to panic buying, and demand–supply metrics of panic buying.