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

Federal Reserve lowers rates amid eased job market

Published

on

The Federal Reserve has cut interest rates by a quarter-point, bringing the benchmark rate to a range of 4.5% to 4.75%, as economic growth continues but job gains slow.

The Fed noted that labour market conditions have “generally eased,” even with low unemployment, signalling a more cautious approach amid a stable economic expansion.

The statement marks a shift in Fed language, now saying inflation has “made progress” toward the 2% goal instead of the prior “further progress.”

With inflation holding steady around 2.6%, policymakers aim to keep economic risks balanced, despite pressures from slower job growth.

This rate cut reflects a strategic move to sustain economic momentum while cautiously watching inflation’s gradual trend toward the Fed’s target.

The decision was unanimous, aligning Fed priorities with a balanced approach to support both employment and price stability.

Continue Reading

Money

Trump victory sparks market surge as Wall Street soars

Published

on

Donald Trump’s election victory has sparked a massive rally in the stock market.

Banks and industrial companies led the surge as investors bet that Trump’s plans for deregulation and tax cuts will boost economic growth.

Shares of big banks, like JPMorgan and Goldman Sachs, soared as investors predicted fewer regulatory restrictions.

Meanwhile, industrial giants such as Caterpillar and steelmakers like Nucor also hit record highs, reflecting optimism about U.S. manufacturing.

In contrast, clean-energy stocks took a hit, as Trump’s policies are expected to favour traditional energy sectors.

This surge comes amid rising Treasury yields and falling gold prices as investors gain confidence in the transition to a Trump administration.

Continue Reading

Money

Australian Treasurer and RBA chief clash over economy

Published

on

 

A rare dispute has emerged between Australia’s Treasurer Jim Chalmers and Reserve Bank Governor Michele Bullock over the nation’s economic trajectory.

Governor Bullock argues the economy remains overheated, even as growth data shows recent slowdowns.

Treasurer Chalmers, however, warns that sustained high interest rates are “smashing the economy.”

This debate is critical for Australians, as it will influence the future of interest rates and inflation.

Data shows a mixed economic picture: while inflation is down, it’s still above target, and the jobs market remains historically strong.

Ultimately, deciding who’s right may come down to theory and perspective on economic health.

Continue Reading

Trending Now