Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

The most likely person to panic buy is…

Published

on

One of the first things we noticed at the beginning on the pandemic and lockdowns was the sudden rush on the supermarkets and the disappearance of toilet paper from shelves.

Now researchers have pinpointed the most likely type of person to succumb to panic buying.,

Data from the University of Adelaide revealed women under 55 who have children and a university degree are in fact the number one culprit.

Women under 55 with a university degree most likely panic buyers.
Women under 55 with a university degree most likely panic buyers.

Researchers say panic buyers are people who become more anxious when there’s uncertainty in their day to day life.

“Toilet paper and milk were flying off the shelves faster than I could count, and carbonated water was just about empty.”

The study found one in four described their own behaviour last year as panic buying.

Research also discovered Australians are the ‘world’s best panic-buyers’.

But it’s a phenomenon seen right around the world.

Mass demand for rice and instant noodles in Singapore prompted Prime Minister Lee Hsien Loong to assure the public there was enough to go around.

In Auckland, New Zealand, supermarket spending shot up 40% compared to the same day a year ago.

And shoppers in Malaysia wanting to pad “pandemic pantries” – grocery hoards to fill people’s kitchens until the crisis dies down – have driven an 800% increase in weekly hand sanitiser sales.

The psychology of panic buying

With events like looming natural disasters, such as a hurricane or flood, people frequently stock up with emergency supplies.

“It is rational to prepare for something bad that looks like it is likely to occur.”

David Savage, associate professor of behavioural and microeconomics at the University of Newcastle in Australia

Irrational stockpiling can also lead to price gouging, Academics warn that if the price of a roll of toilet paper is tripled, then people will see that product as scarce, leading to anxiety.

“If everyone else on the Titanic is running for the lifeboats, you’re going to run too, regardless if the ship’s sinking or not”.

Steven Taylor, a professor and clinical psychologist at the University of British Columbia

In the case of a hurricane or flood, most people have a fair idea of the items they may need in the event of a blackout or a water shortage. But since it’s unclear at this stage just what effects Covid-19 will have, there’s a lot of uncertainty driving this spending.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Ferrari’s debut high-performance electric vehicle will be priced above $500,000

Published

on

Ferrari has unveiled details about its inaugural electric car, slated to be priced upwards of $500,000, as first reported by Reuters.

This announcement comes amidst growing global interest and competition in electric vehicles, with Ferrari aiming to blend its iconic design prowess with sustainable technology.

The Italian automaker, renowned for its high-performance sports cars, is expected to maintain its commitment to superior craftsmanship and engineering excellence in its electric offering.

Following the EV announcement, Ferrari also confirmed plans to establish a new manufacturing plant aimed at enhancing production flexibility and significantly reducing car development times.

Mike Costello from Cox Automotive joins to discuss the latest in EVs. #featured #trending

Continue Reading

Money

Nvidia surpasses Microsoft as the most valuable company in the world

Published

on

Nvidia has emerged as the world’s most valuable company, surpassing Microsoft with a market value of over $3.3 trillion.

This shift comes on the heels of Nvidia’s consistent growth in the semiconductor sector and its strategic advancements in artificial intelligence and gaming technologies.

This milestone marks a significant validation of Nvidia’s aggressive expansion and innovation strategies under CEO Jensen Huang, who has steered the company towards dominance in high-performance computing.

Continue Reading

Money

Finance expert empowers his social audience with accessible wealth tips

Published

on

The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

Continue Reading

Trending Now