Where Is All The Toilet Paper? A Consumer Psychologist Decodes Pandemic Hoarding
Consumer psychologist, Dr. Kit Yarrow, unpacks the panicked buying behavior amidst the coronavirus outbreak.
As public concern surrounding the coronavirus deepens, social media has become inundated with photos of empty grocery store shelves. Stories of toilet paper and sanitizer hoarders are scattered across the internet.
“Anxiety fuels action. Control is the antidote to anxiety.” – Dr. Kit Yarrow, consumer psychologist
What’s behind this stockpiling behavior and will it really keep people safe during this global health crisis?
Listen: Consumer psychologist, Dr. Kit Yarrow, breaks down frenzied shopping as health crisis mounts.
Guest
Dr. Kit Yarrow, consumer psychologist and author of “Decoding the New Consumer Mind” and “Gen BuY,” says panic buying has a lot to do with social pressure and anxiety. She says when people are stressed, they look to others for how to respond. When people see others stocking up, they think I better go do that too.
“Anxiety fuels action,” says Yarrow. “Control is the antidote to anxiety.” Stocking up on supplies makes anxious people feel in control during an unpredictable situation. Leadership is another key factor in managing collective anxiety in a climate of crisis. “Certainly, we’ll see more erratic purchasing behavior if people don’t have leadership that they can trust,” says Yarrow.
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