Expert warns people not to panic buy or stockpile goods amid Covid-19 fears
A leading lecturer in retail management has warned people not to panic and stockpile goods in the context of the outbreak of the coronavirus.
Damien O’Reilly of Technological University Dublin has warned there is “absolutely no need” for panic-buying of goods like toiletries or food.
In recent days, there has been a widespread spike in sales of items such as hand sanitiser and face masks, with some products impossible to find on Irish shelves.
It follows similar patterns that have emerged in other countries. New data released by Kantar Worldpanel showed sales of hand sanitiser increasing sharply in the UK last month.
In February, sales soared by 255%, while liquid soap sales increased by 7% and sales of household cleaning products rose by 10%.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “Given the media focus around the outbreak of Covid-19 in February, it’s unsurprising to see shoppers prudently protecting themselves from illness.”
Similar scenes have emerged in some Irish supermarkets recently, with hand sanitiser all but disappearing from the shelves of several retail chains.
However, Mr O’Reilly, a lecturer in Retail Management at TU Dublin, urged people to be calm.
Speaking on RTÉ Radio 1, Mr O’Reilly spoke of a “herd mentality” and “the fear of the unknown” creeping into shoppers’ minds.
He said the image of empty shelves will, in itself, cause a panic as shoppers believe they have missed out on something they should have bought earlier.
“It’s the fear that a dramatic event warrants a dramatic response,” he said.
“Certain items — tinned foods, toilet paper, water —there is an increase in those, but big manufacturers and retailers know what they are doing. They have had simulations for pandemics, Brexit or other situations where there would be a scarcity of supply.”
Mr O’Reilly said they will have models in place that will mitigate against a loss of supply. Among the suggested strategies is a reduction in the range of goods available. For example, instead of there being several brands and sizes of a product, this might be focused on one standard size to ensure supply.
A high-level meeting of Government officials and representatives of the grocery sector took place earlier this week to discuss contingency plans in the event that the virus spreads widely.
It was chaired by enterprise minister Heather Humphreys, who moved quickly to assure the public that panic-buying was unnecessary.
Ms Humphreys said that she was “assured that grocery supply chains are well stocked and there is ample supply to meet demand”.
She said retailers and suppliers were working on contingency plans “and are following the public health advice provided by Government on a daily basis, so that health is prioritised for employees and consumers, and food supply chains can continue to function with minimal disruption”.
- The HSE have developed an information pack on how to protect yourself and others from coronavirus. Read it here
- Anyone with symptoms of coronavirus who has been in close contact with a confirmed case in the last 14 days should isolate themselves from other people - this means going into a different, well-ventilated room alone, with a phone; phone their GP, or emergency department - if this is not possible, phone 112 or 999 and in a medical emergency (if you have severe symptoms) phone 112 or 999
